A retail store can use this template spreadsheet to produce a trial balance - a record of a business' general ledger accounts. The trial balance consists of a list of each and every ledger account and the debit balance or credit balance for each account. Companies typically prepare trial balances periodically, usually at the end of a reporting period. The trial balance is an extremely useful worksheet. Not only can it serve to detect any mathematical or bookkeeping errors in a company's accounting system, but the values of the ledger accounts can be used to produce a company's financial statements, such as the balance sheet or income (profit and loss) statement.