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Glossary

Trial balance

A report listing every account's balance, proving total debits equal total credits.

A report listing every account with its debit or credit balance, and the totals at the bottom. If total debits equal total credits, the ledger is internally consistent; if not, something is broken and month-end can't proceed.

In Bizdivers: Accounting → Trial Balance shows a clear Balanced or Out of Balance indicator for any as-of date and basis, and a balanced trial balance is a blocking item on the close checklist. See The bookkeeper's toolkit.