| Scenario | What to Check | | :--- | :--- | | | Look for a credit balance in a bank account—likely a data entry error. | | Accounts receivable negative | Suggests overpayment or misapplied customer credits. | | Suspense account has a balance | Indicates a transaction QuickBooks couldn’t categorize correctly. | | Retained earnings changes mid-year | In accrual basis, RE should only change at year-end closing. | | Debits ≠ Credits | Very rare in QuickBooks, but if it happens, run "Verify Data" (Desktop) or check for disconnected bank feeds (Online). |
A Trial Balance is an internal report that lists the ending balances of all general ledger accounts at a specific point in time. In the double-entry accounting system used by QuickBooks, every transaction must have equal debits and credits. Therefore, the primary purpose of this report is to prove that your total Debits equal your total Credits. quickbooks trial balance report
At the very bottom of the report, you will find the row. In a healthy set of books, the bottom of the Debit column and the bottom of the Credit column must be identical. Common Uses for the Trial Balance | Scenario | What to Check | |