A retail company 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.
[COMPANY NAME] Trial Balance [Date] Account Type Debit Credit Cash in Drawer Cash - Checking Account Bank - Lay Away Receivable Accounts Receivable - Employee Advances Other Current Asset - Prepaid Insurance Other Current Asset - Merchandise Inventory - Furniture and Equipment Fixed Asset - Accumulated Depreciation Fixed Asset - Computer Equipment/ Custom Software Fixed Asset - Accumulated Depreciation Fixed Asset - Vehicles Fixed Asset - Accumulated Depreciation Fixed Asset - Buildings and Leasehold Improvements Fixed Asset - Accumulated Depreciation Fixed Asset - Land Fixed Asset - Security Deposit Other Asset - Accounts Payable Accounts Payable - Business Credit Cards Credit Card - Customer Lay Away Deposits Other Current Liability - Sales Tax Payable Other Current Liability - Payroll Liabilities Other Current Liability - Car Loan Payable Long Term Liability - Mortgage/ Lease Long Term Liability - Shareholder's Loan Long Term Liability - Opening Balance Equity Equity - Capital Stock Equity - Dividends Paid Equity - Owners Draw Equity - Retained Earnings Equity - Merchandise Sales Income - Retail Service Sales Income - Product Warranty Sales Income - Proceeds from Sale of Assets Other Income - Finance Charge/ Interest Income Other Income - Direct Labor Cost of Sales - Sales Commissions Cost of Sales - Merchandise Sold Cost of Sales - Merchant Account Fees Cost of Sales - Warehousing and Storage Costs Cost of Sales - Purchases - Resale Items Cost of Sales - Product Samples Expense Cost of Sales - [COMPANY NAME] Trial Balance [Date] Account Type Debit Credit Advertising and Promotion Expense - Automobile Expense Expense - Bank Service Charges Expense - Business Licenses and Permits Expense - Charitable Contributions Expense - Computer and Internet Expenses Expense - Continuing Education Expense - Depreciation Expense Expense - Dues and Subscriptions Expense - Foreign Exchange Gain/ Loss 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 Services (Legal, Accounting) Expense - Property Tax Expense - Rent Expense Expense - Repairs and Maintenance Expense - Telephone Expense Expense - Travel Expense Expense - Utilities Expense - Website Development Expense - $ - $ -
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