A listing of the accounts in the general ledger along with each account's balance in the appropriate debit or credit column. The total of the amounts in the debit column should equal the total of the amounts in the credit column.
This is a statement prepared on a particular day, say at the end of the month, extracted from the various accounts in ledger to check the mathematical accuracy of books of accounts, i.e. the sum total of debit balance must be equal with some total of credit balance, otherwise the books of accounts would not be mathematically correct. It is the source data to prepare the final accounts.
Trial balance is an important statement prepared under the double-entry system. The fundamental principle of the double-entry system is that for every amount of debit there is equal amount of credit and vice versa.The principle provides a check an arithmetical accuracy of the recording of financial transactions in different books. Such a check can be performed by preparing a statement called trial balance.