How to Make Trial Balance in Excel (with Easy Steps)

If you are looking for how to make Trial Balance in Excel, then you are in the right place. In our practical life, we often need to make trial balances to get a legitimate statement of the financial state of our companies. If we do it in Excel it becomes easier. In this article, we’ll try to discuss trial balance and how to make trial balance in Excel.

How to Make Trial Balance in Excel: (with 2 Steps)

We need to first understand what Ledger and Trial balance are. Both of these things have significant use in accounting and have use in Excel.

Step-01: Making Ledger

Basically, an accounting ledger is an account or record that we use to store bookkeeping entries for balance sheets and income statements. Accounting ledger journal entries can include accounts like cash, accounts receivable, investments, inventory, accounts payable, accrued expenses, customer deposits, etc.
Eventually, we made a dataset of an arbitrary Ledger named Making Ledger. It has column headers as SL No., Particulars, and Amount. Here, we have included all the financial statements of the company. It covers almost all of the included topics of the ledger. The dataset is like this.

how to make trial balance in excel

Read More: How to Prepare Balance Sheet from Trial Balance in Excel

Step-02: Preparing Trial Balance

Eventually, after making a ledger the next step is Preparing a Trial Balance.
Firstly, we need to know about Trial Balance. Mainly, Trial Balance shows the information on each ledger balance in a tabular style. Every organization must assess its financial condition over a specific time period, thus it includes transactions made during the year as well as the opening and closing balances of ledgers. The Trial Balance aids in analyzing the position and transactions made during such a time period. Importantly, we do this with trial balances by listing all the accounts with both debit and credit balances in one location.
Generally, the trial balance has three columns. One is the Ledger column. The other two are the Debit and Credit columns. We have made the Trial Balance with a column header Preparing Trial Balance. Here, some of the particulars in Ledger are Debit Balance and the others are Credit Balance. The Trial Balance is like this.

preparing trial balance

Finally, we can see from the trial balance that the individual Total Debit Balance and Credit Balance are equal i.e. our Trial Balance is correct.

Read More: Debit Credit Balance Sheet with Excel Formula

Things to Remember

The total Debit Balance and Credit Balance in the Trial Balance should be equal. If it is not then there might be some calculation mistake while preparing it.

Download Practice Workbook


We can make Trial Balance very easily if we study this article properly. Please feel free to mention any questions or suggestions in the comment section. Have a nice day!

Related Articles

<< Go Back To How to Make Balance Sheet in Excel |Excel For Finance | Learn Excel

Get FREE Advanced Excel Exercises with Solutions!
Shajratul Alam Towhid
Shajratul Alam Towhid

Md Shajratul Alam Towhid, a BSc graduate in Naval Architecture & Engineering from Bangladesh University of Engineering and Technology, holds a pivotal role as an Excel & VBA Content Developer at ExcelDemy. Fueled by a deep passion for research and innovation, he actively engages with Excel. In his capacity, Towhid not only adeptly tackles complex challenges but also exhibits enthusiasm and expertise in gracefully navigating tough situations, emphasizing his unwavering commitment to consistently delivering exceptional, high-quality content that... Read Full Bio

We will be happy to hear your thoughts

Leave a reply

Advanced Excel Exercises with Solutions PDF