Free trial balance template for Excel (adjusted and extended)
A trial balance lists every account in the books with its balance as a debit or a credit, and proves that the two totals agree. It's the checkpoint between the general ledger and the financial statements: you take it at month end or year end, make the adjusting entries the books are missing, and split the adjusted balances into the income statement and the balance sheet. This free Excel template does all of that on one sheet, in the layout accountants call an extended trial balance or worksheet: unadjusted balances, adjustments, adjusted balances, and income statement and balance sheet columns with net income as the balancing line. Below: what's in the file, the columns, a worked example with four adjusting entries, how the extended columns work, and what to check when it doesn't balance.
Short answer: download the trial balance template (.xlsx). Enter each account's balance at the period end in Debit or Credit; the status reads Balanced when the totals agree. Add accruals, prepaids and depreciation on the Adjustments sheet, and the adjusted trial balance and the income statement and balance sheet columns fill in, with net income (loss) calculated for you. The Example is a fictional design studio at September 30, 2026: an unadjusted trial balance of 333,855.77 each side, four adjusting entries totalling 5,536.40, an adjusted trial balance of 338,992.17 and net income of 63,767.12.
Download the free trial balance template (.xlsx)
Five sheets: a blank Trial balance with the 50 starter accounts and 20 spare rows, a blank Adjustments sheet for 60 lines of adjusting entries, a filled-in Example with its Example adjustments, and How to use. It uses only SUM, SUMIF, ROUND, IF, AND, OR, N, IFERROR, VLOOKUP and TEXT, so it works in Excel, Google Sheets (File, Import), LibreOffice and Numbers. No sign-up, no email, no macros. It prints in landscape with the column headings repeated on every page.
- What's in the template
- The columns
- Worked example: the unadjusted trial balance
- Adjusting entries and the adjusted trial balance
- The extended trial balance: income statement and balance sheet
- How to prepare a trial balance, step by step
- When the trial balance doesn't balance
- What a balanced trial balance doesn't prove
- FAQ
1. What's in the template
- Header: the business name and the period end the trial balance is taken at.
- Account list: the 50 starter accounts from our chart of accounts template (1000 Business checking to 7900 Ask my accountant), each with a Category (Asset, Liability, Equity, Income, Cost of sales, Expense, Other income, Other expense), plus 20 spare rows. Yellow cells are inputs, so rename, renumber or add accounts to match your own chart.
- Unadjusted trial balance: two input columns, Debit and Credit, for each account's balance at the period end.
- Adjustments: totalled by account from the Adjustments sheet, where each adjusting entry has a reference (AJE 1, AJE 2 ...), an account from the drop-down, the amounts and an Entry check that shows OK when the entry balances.
- Adjusted trial balance, Income statement and Balance sheet: calculated. The Category decides which statement each adjusted balance goes to, and net income (loss) balances both pairs of columns.
- Checks box (top): the unadjusted difference, the adjustments difference, adjustments posted to an account that isn't in the list, net income, and a status line that reads Balanced: debits = credits in every column when everything agrees.
Need only a plain trial balance? Fill in the account list and the unadjusted columns and ignore the rest: with no adjustments, the adjusted columns simply repeat the balances.
2. The columns
| Column | What goes in it |
|---|---|
| Acct #, Account, Category | The account list. Category is a drop-down; it's what sends a balance to the income statement or the balance sheet. |
| Unadjusted trial balance | Each account's closing balance from the general ledger or your software's trial balance report: a debit balance in Debit, a credit balance in Credit, both positive. |
| Adjustments | Calculated: the account's debits and credits on the Adjustments sheet. |
| Adjusted trial balance | Calculated: unadjusted balance plus adjustments, shown as a debit or a credit balance. |
| Income statement | Calculated: adjusted balances of income, cost of sales and expense accounts (including other income and other expense). |
| Balance sheet | Calculated: adjusted balances of asset, liability and equity accounts. |
| Statement | Calculated from the Category, so you can see where each line went. |
3. Worked example: the unadjusted trial balance
The Example sheet is a fictional design studio's year to date at September 30, 2026. Its checking account ends at 13,440.52, the same ending balance as our sample bank statement PDF, and its accounts are the ones in the chart of accounts template. 3900 Retained earnings is the balance carried in at the start of the year (11,340.94). These are the balances before any month-end adjustments:
| Account | Category | Debit | Credit |
|---|---|---|---|
| 1000 Business checking | Asset | 13,440.52 | |
| 1010 Business savings | Asset | 25,000.00 | |
| 1050 Petty cash | Asset | 300.00 | |
| 1100 Accounts receivable | Asset | 18,450.00 | |
| 1300 Prepaid expenses | Asset | 2,400.00 | |
| 1500 Equipment | Asset | 24,600.00 | |
| 1510 Furniture and fixtures | Asset | 6,800.00 | |
| 1590 Accumulated depreciation | Asset | 8,750.00 | |
| 2000 Accounts payable | Liability | 4,125.80 | |
| 2100 Business credit card | Liability | 3,214.56 | |
| 2200 Sales tax payable | Liability | 1,167.29 | |
| 2300 Payroll liabilities | Liability | 1,288.41 | |
| 2700 Loan payable | Liability | 15,000.00 | |
| 3000 Owner's investment | Equity | 20,000.00 | |
| 3100 Owner's draws | Equity | 36,000.00 | |
| 3900 Retained earnings | Equity | 11,340.94 | |
| 4100 Service income | Income | 268,940.00 | |
| 5100 Subcontractors | Cost of sales | 21,400.00 | |
| 6000 Advertising and marketing | Expense | 3,860.00 | |
| 6050 Bank fees | Expense | 135.00 | |
| 6100 Car and truck expenses | Expense | 1,210.45 | |
| 6150 Contract labor | Expense | 6,525.00 | |
| 6250 Insurance | Expense | 3,600.00 | |
| 6300 Legal and professional fees | Expense | 2,750.00 | |
| 6375 Interest expense | Expense | 742.18 | |
| 6400 Office supplies | Expense | 1,964.32 | |
| 6450 Rent | Expense | 16,650.00 | |
| 6550 Software and subscriptions | Expense | 2,267.91 | |
| 6600 Supplies | Expense | 2,846.10 | |
| 6700 Telephone and internet | Expense | 1,704.06 | |
| 6800 Utilities | Expense | 3,713.94 | |
| 6900 Wages and salaries | Expense | 115,370.55 | |
| 6910 Payroll taxes | Expense | 9,236.84 | |
| 6920 Employee benefits | Expense | 12,888.90 | |
| 7000 Interest income | Other income | 28.77 | |
| Total | 333,855.77 | 333,855.77 |
Debits and credits both total 333,855.77, so the status reads Balanced. Two things to notice: 1590 Accumulated depreciation is an asset account with a credit balance (a contra account that reduces equipment and furniture), and 3100 Owner's draws is an equity account with a debit balance. Both are normal; keep them in their own categories.
4. Adjusting entries and the adjusted trial balance
An unadjusted trial balance can balance and still be incomplete: bills that arrived after the period end, prepaid costs that have been used up, depreciation and work not yet invoiced aren't in the ledger. Adjusting entries put them in. The Example adjustments sheet has four, each dated September 30:
| Ref | Debit | Credit | Amount | Why |
|---|---|---|---|---|
| AJE 1 | 7600 Depreciation | 1590 Accumulated depreciation | 1,250.00 | Depreciation on equipment and furniture for January to September (from the depreciation schedule template's example) |
| AJE 2 | 6250 Insurance | 1300 Prepaid expenses | 400.00 | Two months of a prepaid policy used up |
| AJE 3 | 6800 Utilities | 2000 Accounts payable | 286.40 | September's electric bill, received October 6 (an accrual) |
| AJE 4 | 1100 Accounts receivable | 4100 Service income | 3,600.00 | Work done in September, invoiced October 2 (unbilled income) |
The adjustments total 5,536.40 on each side. Only the eight accounts they touch change:
| Account | Unadjusted | Adj. debit | Adj. credit | Adjusted | Goes to |
|---|---|---|---|---|---|
| 1100 Accounts receivable | 18,450.00 Dr | 3,600.00 | 22,050.00 Dr | Balance sheet | |
| 1300 Prepaid expenses | 2,400.00 Dr | 400.00 | 2,000.00 Dr | Balance sheet | |
| 1590 Accumulated depreciation | 8,750.00 Cr | 1,250.00 | 10,000.00 Cr | Balance sheet | |
| 2000 Accounts payable | 4,125.80 Cr | 286.40 | 4,412.20 Cr | Balance sheet | |
| 4100 Service income | 268,940.00 Cr | 3,600.00 | 272,540.00 Cr | Income statement | |
| 6250 Insurance | 3,600.00 Dr | 400.00 | 4,000.00 Dr | Income statement | |
| 6800 Utilities | 3,713.94 Dr | 286.40 | 4,000.34 Dr | Income statement | |
| 7600 Depreciation | 0.00 | 1,250.00 | 1,250.00 Dr | Income statement |
The adjusted trial balance totals 338,992.17 each side (333,855.77 + 5,536.40 − 400.00: AJE 2's credit reduces the debit balance of Prepaid expenses instead of adding to the credit side). The adjustments raise net income by 1,663.60: 3,600.00 of extra income less 1,936.40 of extra expense.
5. The extended trial balance: income statement and balance sheet
The last four columns sort the adjusted balances by statement. In the example:
| Income statement Dr | Income statement Cr | Balance sheet Dr | Balance sheet Cr | |
|---|---|---|---|---|
| Adjusted balances | 208,801.65 | 272,568.77 | 130,190.52 | 66,423.40 |
| Net income for the period | 63,767.12 | 63,767.12 | ||
| Totals | 272,568.77 | 272,568.77 | 130,190.52 | 130,190.52 |
Income (272,568.77) minus costs and expenses (208,801.65) is net income of 63,767.12. It's added on the debit side of the income statement columns and the credit side of the balance sheet columns, because profit for the period increases equity until it's closed into retained earnings. A loss goes the other way round. If both pairs agree after net income, the extended trial balance is complete and the income statement and balance sheet can be drafted straight from it. The profit and loss template lays out this example's income statement month by month, with the same 63,767.12 of net income, and the balance sheet template lays out its balance sheet at September 30 (total assets 84,190.52), and the cash flow statement template shows why cash rose 15,692.13 over the same nine months.
6. How to prepare a trial balance, step by step
- Post everything for the period to the general ledger: bank and card lines, sales, bills, payroll. Our general ledger template has a built-in trial balance for a ledger kept in a spreadsheet.
- Reconcile the bank and card accounts first, so their balances match the statements (the bank reconciliation template is the workpaper).
- List every account's balance in the Debit or Credit column. From QuickBooks Online or Xero, run the Trial Balance report for the period end and export it to Excel.
- Check that it balances. Fix differences before adjusting (see the next section).
- Record the adjusting entries: accruals, prepaids used, depreciation, unbilled income, deferred income, and corrections your review turns up.
- Review the adjusted balances for anything odd: a liability with a debit balance, an expense account that's far higher than last period, a suspense or "Ask my accountant" balance that should be cleared.
- Draft the statements from the extended columns, and post the adjusting entries in your books so the ledger matches. Keep the workpaper with the period's records (in the US the IRS explains how long to keep records).
7. When the trial balance doesn't balance
- "Unadjusted trial balance out by": a balance is in the wrong column (the difference is then twice that balance), an account is missing from the list, or two digits are transposed (the difference divides evenly by 9).
- "Adjustments out by": an adjusting entry has only one side or its two amounts differ. The Entry check column on the Adjustments sheet shows which Ref is out.
- "An adjustment uses an account not in the list": an adjusting line's Account name reads Not in the list. Fix the number or add the account.
- "Check the Category column": an account with a balance has no category, so it didn't reach either statement.
- Your software's trial balance won't balance: that's rare, since software posts both sides of every entry. Usually the export left out a line (a subtotal row, an account with a zero opening balance), so compare the account count first.
When the trial balance agrees but a bank account doesn't match its statement, the problem is a missing, doubled or miscoded bank line rather than a one-sided entry. Our guide on how to find a reconciliation discrepancy works through it.
8. What a balanced trial balance doesn't prove
Equal totals only prove that debits equal credits. These errors leave the trial balance balanced:
| Error | Example | How you'd find it |
|---|---|---|
| Omission | A bill never entered at all | Bank and card reconciliations; an accounts payable review (the AP aging report should equal accounts payable) |
| Wrong account | A card payment posted to an expense instead of the card liability | Reviewing unusual balances; a liability with a debit balance |
| Wrong amount on both sides | 642.18 entered as 624.18 in debit and credit | Agreeing entries to the source documents |
| Duplication | The same bank line imported twice | Bank reconciliation; the bank statement balance checker |
| Principle | Equipment purchase expensed instead of capitalized | Review of large expense lines |
That's why the reconciliations come first and the review of adjusted balances comes last.
Building the books from bank statement PDFs?
Utilly's converter reads a bank statement PDF, downloaded or scanned, into Excel, CSV, QuickBooks or Xero files and checks the rows against the statement's beginning and ending balance, so the bank account in your trial balance starts from complete data. The preview is free with no sign-up. Try it on the sample bank statement first: its ending balance is the 13,440.52 in the Example sheet, and every download of the sample is free because the data is fictional.
Method: the layout is the standard extended trial balance (worksheet) used in accounting courses: unadjusted trial balance, adjustments, adjusted trial balance, income statement and balance sheet columns, with net income as the balancing figure. The example business and amounts are fictional. Template built and checked November 2, 2026: the Example sheet recalculates in LibreOffice to totals of 333,855.77 (unadjusted), 5,536.40 (adjustments) and 338,992.17 (adjusted), net income of 63,767.12 and a Balanced status.
FAQ
What is a trial balance?
A list of every account in the general ledger with its closing balance as a debit or a credit, taken at a period end. If the books are kept in double entry, total debits equal total credits. It's the starting point for adjusting entries and for preparing the income statement and balance sheet.
Is the trial balance template free?
Yes. Download the .xlsx with no sign-up or email address. It has a blank trial balance with 50 starter accounts and 20 spare rows, an adjustments sheet, a filled-in example and instructions, and it works in Excel, Google Sheets (File, Import), LibreOffice and Numbers.
What's the difference between an unadjusted and an adjusted trial balance?
The unadjusted trial balance is the ledger's balances as they stand at the period end. The adjusted trial balance adds the adjusting entries: accruals, prepaid costs used, depreciation, unbilled or deferred income, corrections. Financial statements are prepared from the adjusted one.
What is an extended trial balance?
A worksheet that puts the unadjusted trial balance, the adjustments, the adjusted trial balance and the income statement and balance sheet columns side by side, with net income (or loss) as the figure that makes both pairs of columns agree. This template is laid out that way.
Why doesn't my trial balance balance?
Usually a balance is in the wrong column (the difference is twice that balance), an account is missing, two digits are transposed (the difference divides by 9), or an adjusting entry has only one side. The template's status line says which part is out and by how much.
Does a balanced trial balance mean the books are right?
No. It proves debits equal credits, not that every transaction is there and in the right account. Omitted bills, entries in the wrong account, the same wrong amount on both sides and duplicated imports all leave it balanced; bank and card reconciliations and a review of unusual balances catch those.
Related guides
- Free depreciation schedule template for Excel (fixed asset register, straight-line)
- Free aging report template for Excel (accounts receivable and payable)
- Free profit and loss template for Excel (monthly P&L, income statement)
- Free balance sheet template for Excel (small business, with formulas)
- Free cash flow statement template for Excel (indirect method, with formulas)
- Free general ledger template for Excel (with a trial balance)
Related tools
- Bank reconciliation checker: compare a bank statement to your books and list missing, duplicate and mismatched transactions.
- Receipt to CSV: turn PDF or photo receipts and invoices into CSV, Excel, or QuickBooks and Xero bill imports.
