Give FOUR steps to be followed if a trial balance failed to balance. – NABTEB QUESTION

Steps to be followed if a trial balance failed to balance are:

i. Check whether both the debit and credit entries of all transaction have been posted.

ii. Check the additions on both sides of the trial balance.

iii. Check the figure posted to each of the account to ensure correct amount being posted.

iv. Check whether the balances are correctly transferred to the correct side of the trial balance.

v. If all the steps stated above are being taken are of, then, transfer the difference to the suspense account.