BALANCING OF LEDGER ACCOUNT
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Before the preparation of Trial Balance, the
account must be balanced off at regular intervals during the financial year, it
is necessary to balance each account, in order to ascertain the overall
position recorded in the book keeping system. In balancing the account, the
following procedures must be followed:
1. Post all Debit Items.
2. Add all the Items on the Debit side.
3. Post all Credit Item.
4. Add all the Items on the Credit side.
5. Compare both the two totals.
