Journal posting errors are not uncommon. At the close of each accounting period, the trial balance sheet is created to ensure that each account balances before the financial statements are created. The trial balance sheet acts as a tool to ensure the integrity of the financial statements. Once all the accounts are in balance, the income statement and balance sheet can then be created.

Creating the Closing Trial Balance Sheet

All of the general ledger (GL) accounts and their ending balances are listed on the trial balance. They are generally listed in order by GL category as follows.

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