Aqid ERPEvery account's balance on one page
The trial balance (ميزان المراجعة) lists every ledger account with its closing balance, debit balances in one column and credit balances in the other. Because every journal entry debited and credited equal amounts, the two columns must total the same; if they do not, something was posted one-sided. It is the bridge between the ledger and the financial statements: the income statement is built from its income and expense lines, the balance sheet from the rest.
- The company name and the date ("as at").
- Per line: account code, account name, debit balance or credit balance.
- The two totals, equal.
The sample, and what it does not catch
Eleven accounts, totalling 241,080.00 on each side. Equal totals prove the arithmetic, not the accounting: an entry posted to the wrong account, a transaction missed entirely, or two errors that cancel out all leave the trial balance in balance. Review each balance against what you know (does the bank agree to the statement, do receivables agree to the customer list, is VAT payable the figure on the return) before closing.
| Assets (1xxx) | Debit 165,080.00; credit 30,000.00 accumulated depreciation |
|---|---|
| Liabilities and capital (2xxx, 3xxx) | Credit 125,080.00 |
| Income (4xxx) | Credit 86,000.00 |
| Expenses (5xxx) | Debit 76,000.00 |
| Totals | 241,080.00 = 241,080.00 |