Preparing a post-closing trial balance

A post-closing trial balance is a form of financial statement prepared after all closing entries have been recorded and posted to the general ledger. It serves as a final check to make sure that all debits equal all credits. This balance has two columns, one for debit balances and one for credit balances, and each account balance is totaled in each column. If the totals in the two columns match, then the ledger is in balance and all entries for the period have been properly made and posted. If there are any discrepancies, then additional investigation may need to be done to uncover any accounting errors.