For example, if the total debits of the trial balance exceed the total credits by $840, this amount is credited in the suspense account.

How to Fix an Incorrect Trial Balance. The trial balance is meant to check the mathematical accuracy of accounts' debit and credit balances. Mathematical accuracy, however, does not mean that the ...

Discover common accounting errors and learn how to detect and prevent them effectively. Ensure your financial statements are accurate and reliable with our expert strategies.