This method is not widely used because the accuracy of balances is not determined in this method. In the totals method, both credit total and debit total is tabulated in two separate columns and credit and debit sides of the ledger are totaled.
The format for preparing the trial balance by using totals method is given below −
The advantages of preparing the trial balance by using totals method are given below −
The disadvantage is that the final accounts cannot be prepared by using this method.