Final Trial Balance Transcript
Accounting Cycle-2 > After Closing Trial Balance
Preparing the post-closing trial balance is the 9th step in the accounting cycle.
This is also an optional step.
It is prepared after the closing journal entries and its purpose is to verify that the temporary accounts have been closed and reset to zero balances.
Let's remember that the trial balance lists accounts in the following order: assets; liabilities; equities; revenues; and expenses.
Since the temporary accounts have been closed, the post-closing trial balance only lists the balance sheet accounts.