Features of Trial Balance

 

Features of Trial Balance

1. Trial balance in accounting lists down all the ledgers, including the cash book.

2. It does not form a part of the Double-entry System of Accounting. It serves only as a reference.

3. A trial balance can be prepared any time- weekly, monthly, quarterly, and year-end.

4. It serves as a vital tool to verify the arithmetical accuracy of the books.

5. It forms a connecting point between the Profit and Loss Account and Balance sheet.

6. It does not provide conclusive proof of the absence of error. Errors such as errors of principal may still exist.

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