Trial balance is an accounting procedure used to ensure the mathematical equality between debit and credit accounts as recorded in the general ledger. A trial balance can take different forms, ...

Accrual basis accounting requires your business to record revenue in the reporting period in which you earn rather than receive the revenue. Businesses that receive advance payments -- such as annual ...

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 ...