Trial balance
(Guest)
Hi,
My colleague claims that difference between Dr. & Cr. side of Trial Balance is Profit or Loss. That does not make any sense to me..
2 Replies
Prashant Sharma
(CA)
(389 Points)
Replied 29 January 2017
No,That is not profit.
Difference in trial balance means that there are some errors in journalising the entries or posting of entry in ledger.
Difference in trial balance means that there are some errors in journalising the entries or posting of entry in ledger.
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 29 January 2017
Not at all. Trail balance's Dr.and Cr.side should always tally. If this is not so then it means there is an error in ledger posting/ journal entries.
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