post-closing trial balance


Before an accountant will transfer revenue and expenses to the next accounting period, he/she may perform another check on the balance sheet accounts to see if there are any adjusting entries that need to be made before the financial statements are prepared.

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You need to make sure that you have enough of a post-closing trial balance to continue on with what you need.

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The accountant spent a long dreary night working on the post-closing trial balance before finally giving in and getting some much needed sleep.

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They had to review all of the quarterly charges before transferring the post-closing trial balance, since they were not sure how much they totaled.

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