A professional consultant company can use this template spreadsheet to produce a trial balance - a record of a company's 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.
[COMPANY NAME] Trial Balance [Date] Account Type Debit Credit Checking Account Bank - Accounts Receivable Accounts Receivable - Prepaid Insurance Other Current Asset - Advances for Employees Other Current Asset - Inventory Other Current Asset - Furniture and Equipment Fixed Asset - Accumulated Depreciation Fixed Asset - Computer Equipment Fixed Asset - Accumulated Depreciation Fixed Asset - Vehicles Fixed Asset - Accumulated Depreciation Fixed Asset - Buildings Fixed Asset - Accumulated Depreciation Fixed Asset - Land Fixed Asset - Business Investments Other Assets - Patents Intangible Assets - Accounts Payable Accounts Payable - Business Credit Cards Credit Card - Operating Line of Credit Other Current Liability - Sales Tax Payable Other Current Liability - Payroll Liabilities Other Current Liability - Car Loan Payable Long Term Liability - Business Loan Long Term Liability - Shareholder's Loan Long Term Liability - Opening Bal Equity Equity - Capital Stock Equity - Dividends Paid Equity - Owners Draw Equity - Retained Earnings Equity - Consulting Fees Income - Commission Income Income - Bonuses Income - Interest Income Other Income - Discounts Awarded Cost of Sales - Billable Labor Hours Cost of Sales - Subcontractors Cost of Sales - Rental Fees for Seminars Cost of Sales - Professional Inventory Cost of Sales - Advertising and Promotion Expense - Automobile Expense Expense - Bank Service Charges Expense - [COMPANY NAME] Trial Balance [Date] Account Type Debit Credit Business Licenses and Permits Expense - Charitable Contributions Expense - Computer and Internet Expenses Expense - Continuing Education Expense - Depreciation Expense Expense - Dues and Subscriptions Expense - Insurance Expense Expense - Interest Expense Expense - Meals and Entertainment Expense - Miscellaneous Expense Expense - Networking/ Bus. Development Expense - Office Supplies Expense - Payroll Expenses Expense - Postage and Delivery Expense - Printing and Reproduction Expense - Professional Fees Expense - Rent Expense Expense - Telephone Expense Expense - Travel Expense Expense - Uncategorized Expenses Expense - Utilities Expense - Website Development Expense - $ - $ -
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