A trial balance is an accounting tool that essentially combines the balance sheet and the income statement. Accordingly, a company's trial balance must be in order prior to being used to prepare a tax ...

Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...

The unadjusted trial balance for a company plays an important role in basic accounting entries. This balance is usually reflected on a worksheet that includes all of the entries that aren't accounted ...

Clay Halton was a Business Editor at Investopedia and has been working in the finance publishing field for more than five years. He also writes and edits personal finance content, with a focus on ...