Whether the balance on the trial balance is the opening or closing balance

Trial Balance.

The balance on the left and right sides is divided into two columns: the opening balance and the closing balance, and the middle is the amount of the current period. This is shown in the figure below.

At the end of the period, fill in the four amounts of all accounts into the trial balance, and the result should be:

1. Because "assets = liabilities + owners' equity."

So. 1) Total Opening Debit Balances of All Accounts = Total Opening Credit Balances of All Accounts.

2) Total closing debit balances of all accounts = Total closing credit balances of all accounts.

2. Because every business is "there must be a loan, and the loan must be equal".

Total current debit incurrence for all accounts = Total current period credit incurrence for all accounts.

A trial balance is a form in which the total of the credit and credit occurrences and balances of each account in the ledger is added on a regular basis to check whether the credit and credit are balanced and whether there are any errors in the account records.

In accounting, the fourth step of the bookkeeping procedure, the table is a simple list of all the accounts and their balances in the general ledger, which helps to check the accuracy of the records and prepare the financial statements. The table usually has three columns: "Account Name" and "Opening Balance", "Current Amount" and "Closing Balance". In addition to checking whether the amounts incurred and the closing balances of all general ledger accounts are balanced, it is also possible to obtain a general overview of economic activities and budget implementation during the period through the comparison table of current and balance of the general ledger account;In addition, the data provided in this table can also be used as an important basis for the preparation of accounting statements through necessary calculations and adjustments.

Step 1: At the end of the period, all the economic transactions that should be recorded in the account are registered, and the debit amount, credit amount and closing balance of each account are calculated.

Step 2: Prepare a "Statement of Amounts and Balances of the General Ledger Account".

It should be noted that the trial balance does not mean that the day-to-day account records are completely correct, but only substantially correct, as some account records are incorrect and difficult to detect from the trial balance.

These errors include:

1) The borrower and the borrower have a record error of the same amount;

2) All omissions or duplicate records of the same economic transaction;

3) The account record is in the wrong direction of borrowing;

4) Using the wrong account name. These errors require another method to find them.

Only the beginning number cannot be compiled.

How is the total amount of occurrence in this period unbalanced?

What about the business description? There is only the beginning number, there is no business description, how to incur the amount? The amount of occurrence is not made up in a vacuum.

The balance of the asset is on the debit side, the opening balance of the debit side, the increase in the current period (debit), and the decrease in the current period (credit).

The balance of equity is on the credit side Credit opening balance is slipping The amount of increase in the current period (credit) The amount of decrease in the current period (debit).

The balance trial balance is obtained according to the formula "equity in assets".

Extended information: 1. Opening balance.

The opening balance refers to the account balance that already exists at the beginning of the period. The opening balances are based on the closing balances of the previous period and reflect the transactions of the previous period and the results of the accounting policies applied in the previous period. The existing account balance at the beginning of the period is the amount carried forward from the previous period to the current period, or the amount adjusted from the previous period's closing balance.

Typically, the opening balance is the balance carried forward from the previous account to the current account and is equal in amount to the previous closing balance of the corresponding account. However, due to changes in accounting policies due to events after the previous period.

Under the influence of factors such as the correction of accounting errors in the previous period, the balance at the end of the previous period may need to be adjusted or restated when it is carried forward to the current period.

2. Introduction. Opening balances reflect the results of transactions in prior periods and accounting policies applied in the prior period. The opening balance should be based on the objective existence of economic operations, which is the audited unit in accordance with the accounting policies adopted in the previous period for the previous accounting period.

The results of the transactions that occurred and the transactions that were processed. The opening balance is linked to the CPA's first engagement with the CPA. Broadly speaking, a CPA is the first time to be entrusted with the financial statements of an audited entity.

Conducting an audit, or performing a continuous audit engagement, involves an audit of the opening balances. However, in the continuous audit business, the CPA usually only needs to pay attention to whether the audited closing balance of the audited entity has been correctly carried forward to the current period, or whether it has been adjusted or restated in appropriate circumstances, and it is rarely necessary to implement other special audit procedures.

3. Understanding. Certified public accountant refers to a person who has obtained a certified public accountant certificate and practices in an accounting firm, and the full name of Certified Public Accountant (CPA) in English refers to professionals engaged in social auditing, intermediary auditing, and independent auditing. In some other countries such as International Accountant, or AIA for short, such as the United Kingdom, Australia, Canada.

Internationally, accountants generally refer to certified public accountants, not accountants with intermediate professional titles in China. The subject of the CPA exam is "Accounting".

Audit", "Financial Cost Management".

Economic Law, Tax Law, Strategy and Risk Management. By the end of 2010, a total of 10,000 people had obtained general practice certificates.

1. Trial balance of balances.

Fill in: 1. "Opening Balance": reflect the opening balance of the reporting period, according to the general ledger.

Fill in the account balance. January is the carry-over of the previous year, and the balance of each month after February is the balance at the end of the previous month.

2. "Amount incurred in the current period": reflects the amount of debit and credit of each account during the reporting period, and the monthly trial balance is filled in according to the "monthly" number of general ledger accounts.

2. Calculate the balance sheet.

1. Asset class accounts.

Closing Balance of Asset Class Account = Debit Opening Balance + Debit Current Amount Credit Current Amount.

2. Liabilities and owners' equity.

Class Accounts. Liabilities & Owners' Equity Credit Closing Balance = Initial Lease of Credit + Credit Amount Incurred in the Current Period - Debit Amount Incurred in the Current Period.

The closing balances of liabilities and owners' equity accounts are generally on the credit side. For example, short-term borrowings, accounts payable, notes payable, accounts receivable, capital reserves, taxes payable, etc. In addition, the closing balance of asset accounts is generally on the debit side, and the profit and loss accounts such as income and costs generally do not have a closing balance.

Closing balance = opening balance + increase in the current period - decrease in the current period.

In general, the reasons for the imbalance of the trial balance at the end of the period: the imbalance of the closing balance caused by the imbalance of the current amount or the opening balance, and there is no calculation error in the closing balance itself; There were technical errors in the calculation of the closing balances of individual accounts; There was a transfer error in the preparation of the trial balance.

Carry forward. At the end of the year, the balance of the account with a balance can be directly credited to the balance column of the new account, and there is no need to prepare a certificate of account destruction, and there is no need to re-credit the balance to the debit or credit of the account (receiver or payer), so that the balance of the account with a balance becomes zero. Because, since there is a balance at the end of the year, the balance should be faithfully reflected in the account, so that it is clearer and clearer.

Otherwise, the distinction between an account with a balance and an account without a balance is confused.

The above content refers to: Encyclopedia - Closing Balance.

Summary. 1. The role is different; The trial balance is used to check whether the accounting treatment is correct and whether the balance can be achieved; The account summary table is used to register the manual general ledger;

2. The content is different: the data in the account summary table is only the current amount of each accounting account; There is no balance; In the trial balance, there is the opening balance, the closing balance, and the amount incurred by the credit and debit in the current period;

1. The number of their subjects is the same, as long as there is data in this period, it must be reflected in these two tables; It can be said that the account summary statement is a part of the trial balance;

2. The quantity of the account summary table is ** in the T-shaped account, but the opening balance in the trial balance is from the account book, and it is not reflected in the T-shaped account.

The opening balance of the trial balance is not based on the nature of the account.

1. The role is different; The trial balance statement is used to check whether the accounting treatment is correct and whether the balance can be achieved; The account summary table is used to register the manual general ledger; 2. The content is different: the data in the account summary table is only the current amount of each accounting account; There is no balance; In the trial balance, there is the opening balance, the closing balance, and the amount incurred by the credit and debit in the current period; 1. The number of their subjects is the same, as long as there is data in this period, these two tables should be reflected; It can be said that the account summary statement is a part of the trial balance; 2. The quantity of the account summary statement is ** in the liquid stuffy T-shaped account, but the opening balance in the trial balance statement is from the account book, and it is not reflected in the T-shaped account.

Dear, here's the difference between them.

Summary. 1. That is, the profit and loss class should be carried forward to the profit account of the current year at the end of the month, so the closing balance of the profit and loss class is 0. In the trial balance, the balance of all accounts is calculated, and the amount of profit and loss after the expense is included in the profit of the current year, and the trial balance is balanced.

2. Do not fill in the content of profit and loss before you leave the balance sheet, fill in the balance of profit and loss at the end of the period after you finish it, and finally have a record of the occurrence of "current year's profit" and the "current year's profit" to "profit distribution" in your trial balance.

Isn't there no balance in the trial balance for income and expense? Then why do they have the closing balance of the trial balance?

1. That is the loss of the pants profit class to the end of the month to carry forward the current year's profit section of the high head, so the profit and loss class ending balance is 0. In the trial balance statement, the balance of all accounts is calculated, and the amount of profit and loss after expenses are included in the profit of the current year, and the trial balance is balanced. 2. Do not fill in the content of profit and loss before you leave the balance sheet, fill in the balance of profit and loss at the end of the period after you finish it, and finally have a record of the occurrence of "current year's profit" and the "current year's profit" to "profit distribution" in your trial balance.

What does it mean to carry over.

The carry-over is mainly the month-end profit and loss account Air Liquide, which transfers the income, cost and expenses to the profit of the current year, so that you can see the profit of this month and the profit of this year at a glance. There are four purposes for carry-forwarding: one is to carry out the balance of this account; the second is to calculate the cost for the reporting period; third, it is to calculate the profit and loss and the realization of profit in the current period; Fourth, in order to maintain the continuity of accounting work, it is necessary to carry forward the balance at the end of the current fiscal year to the next fiscal year.

Therefore, is the closing balance of expenses and income in the trial balance statement carried forward to the profit of the current year? Yes.