This is the most commonly used method for preparing a trial balance. In this method, closing balances are tabulated in two separate statements. All the credit balances are recorded in the credit column and all the debit balances are recorded in the debit column. Both balances are then tallied.
The format to prepare a trial balance is as follows −
|Account number||Account title||Ledger folio||Balance|
The advantages of trial balance are as follows −