Trial Balance Format
A Trial Balance is a list of all ledger account balances on a particular date, arranged in debit and credit columns. It is prepared at the end of an accounting period to test the arithmetical accuracy of the double-entry records: total debit balances must equal total credit balances. It also serves as the basis for preparing the Financial Statements.
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Blank format
| Particulars | Debit (RM) | Credit (RM) |
|---|---|---|
| xx (asset/expense/drawings) | XX | |
| xx | XX | |
| xx (capital/liability/revenue) | XX | |
| xx | XX | |
| Total | XX | XX |
Blank structure only; XX marks where an amount would be entered.
Write a three-line heading centred at the top: the business name, the words 'Trial Balance', and 'as at 31 [month] [year]'. Put asset, expense and drawings balances in the debit column and capital, liability and revenue balances in the credit column; total both columns and rule them with a double line.
Parts of the format
- Three-line heading
- First line is the business name, second the words 'Trial Balance', and third the date 'as at 31 ...' because a trial balance shows balances on one date, not over a period.
- Particulars column
- Lists the name of each ledger account that has a balance, usually assets and expenses first, then capital, liabilities and revenue.
- Debit column
- Records debit balances, namely assets, expenses and drawings; each amount is written on the same line as its particular.
- Credit column
- Records credit balances, namely capital, liabilities and revenue (sales); these are not mixed with debit balances in the same column.
- Total row
- The debit column total must equal the credit column total; both totals are ruled with a double line.
- Link to closing inventory
- Only opening inventory appears in the Trial Balance; closing inventory is not a ledger balance, so it is noted as additional information below and used when preparing the Financial Statements.
Filled example
Maju Jaya Enterprise, owned by Encik Rahman, prepares its Trial Balance as at 31 December 2023. Its balances include Cash RM5,000, Bank RM15,000, Opening inventory RM8,000, Debtors RM6,000, Fittings RM20,000, Salaries RM12,000, Rent RM4,000, Drawings RM3,000, Capital RM40,000, Creditors RM8,000 and Sales RM25,000.
| Particulars | Debit (RM) | Credit (RM) |
|---|---|---|
| Cash | 5,000 | |
| Bank | 15,000 | |
| Opening inventory | 8,000 | |
| Debtors | 6,000 | |
| Fittings | 20,000 | |
| Salaries | 12,000 | |
| Rent | 4,000 | |
| Drawings | 3,000 | |
| Capital | 40,000 | |
| Creditors | 8,000 | |
| Sales | 25,000 | |
| Total | 73,000 | 73,000 |
Total debit RM73,000 equals total credit RM73,000.
Common layout errors
Related chapters and procedures
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