What is difference between trial balance and a balance sheet?
submitted by Reed Toomey

redmond

The trial balance is like a tool accountants use to make sure everything adds up before prepping financial statements. The balance sheet is one of those statements. It's what you see at the end of the accounting period showing what the company owns and owes.

psyllie

A trial balance is a list of all the general ledger accounts and their balances. It's used to make sure debits = credits.

A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a particular date. It's what they'd call a "snapshot" of the company's financial position.