Small businesses must be well informed to survive in a competitive environment and one of the vital competencies they must develop is to read and understand important financial statements. After rectifying the errors in such a way that the credits and debits are equal the trial balance will be used to prepare important financial statements, more specifically the balance sheet and the profit and loss statement. The trial balance is an internal document and it is meant only for company officials and internal auditors. Here is a trial balance example generated from ProfitBooks.
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