How do I calculate the trial balance report?
Calculating a Trial Balance Report is a useful tool for understanding the financial health of a company. This report prints the account number, description, and balance for the beginning and end of the period, and can also print accounting sequences, income statement, balance sheet, or all balances for a selected period of time. To calculate a Trial Balance Report, start by
creating a spreadsheet in a program like Sourcetable. Next, organize your accounts in a chart of accounts, and enter the beginning balances for each account. Then, enter all of your transactions for the period, including debits and credits to each account. Finally, calculate the ending balance for each account by subtracting the total debits from the total credits. The sum of the ending balances should equal zero if all of the transactions were entered correctly.