If the
total debits equal the total credits, the trial balance is considered
to be balanced, and there should be no mathematical errors in the
ledgers. However, this does not mean there are no errors in a company's accounting system.
Key
to preparing a trial balance is making sure that all the account
balances are listed under the correct column. The appropriate columns
are as follows:
Assets = Debit balance
Liabilities = Credit balance
Expenses = Debit Balance
Equity = Credit balance
Revenue = Credit balance.