Ankit Lal Karn ACW Accounts At Edumarz
It is very important for the bookkeeper that the trial balance should tally.
Tallied trail balance means that debit and credit in any entry have been made correctly.
This tallied trial balance is not a full-proof accuracy of the accounting records.
It guarantees that the posting is done correctly, but it does not prove that the entry is itself correct.
That means there can still be some error such as:-
Error in totaling of subsidiary books.
Error in sum total of credit and debit balance of trial balance
Error in posting subsidiary book’s total.
Error while calculating subsidiary books closing balance.
Omission in showing the closing balance of an account in the trial balance.
Error in recording in a wrong account or wrong amount.
Making a revere entry instead of the original entry.
An error of calculation of ledger account balance.
Recording in the wrong side of trial balance.