post closing trial balance



Trial balance prepared after closing entries have been posted to respective ledger accounts. Its objective is to test whether total debits equal total credits for all real (permanent) accounts, prior to beginning a new accounting period.

Use this term in a sentence

  • The post closing trial balance period was almost over and we had to discern what was going on with everything.

    2 people found this helpful
  • The post closing trial balance was reviewed by the CPA and it did in fact balance so this was a great relief.

    5 people found this helpful
  • You should keep a close eye on the post closing trial balance so that you know you always have enough for what you need.

    7 people found this helpful
Show more usage examples...

Related Videos

Have a question about this term? Ask for help in the
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z