An internal accounting report that is prepared prior to recording the adjusting entries. Its
purpose is to verify that the total amount of debit balances in the general ledger accounts is
equal to the total amount of credit balances.
For more on this term, search our site:
Learn Accounting: Gain unlimited access to our seminar videos, flashcards, visual tutorials, exams, business forms, and more when you upgrade to PRO.
After working as an accountant, consultant, and university accounting instructor for more
than 25 years, Harold Averkamp formed AccountingCoach in 2003. His goal was to
share his knowledge and passion for teaching accounting with people throughout the
world at a very low cost. Read More...