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Closing Balance of all ledger accounts are posted into the trial balance. It is important to remember that a debit closing balance in the ledger account appears on the credit side but in the trial balance it is presented in the debit column and vice versa.
Posting of closing balances should be done carefully as many errors may occur during the posting process such as Posting Error, Transposition Errors and Slide error.
Following is an example of a trial balance prepared from the closing balances of the ledgers detailed above.
Trial Balance as at 31 December 2011