What are the steps taken by an accountant to locate the errors in the trial balance?

Explanation

Here square measure the steps taken by associate controller to find the errors within the balance

(i) Recheck the totals of debit and credit columns of the balance.

(ii) Compare the account head/title and quantity showing within the balance, thereupon of the ledger to observe associatey distinction in quantity omission of an account.

(iii) Compare the balance of current year thereupon of the previous year to visualize additions and deletions.

(iv) Check the correctness of balances of individual accounts within the ledgers

(v) Re-check the correctness of the posting in accounts from the book of original entry.

(vi) If the distinction between the debit associated credit columns is dissociative by two there's an occasion that an quantity adequate to common fraction of the distinction might are announce to the incorrect aspect of another ledger account.

(vii) The distinction might also indicate an entire omission of a posting.

(viii) If the distinction may be a multiple of nine or dissociative by nine, the error may well be because of transposition of figures.