How would the broker compare the trial balance against the reconciliation?
A. The trial balance may be prepared at any time during the month and compared with the running balance of the cash receipts and disbursement journal. The trial balance, however, must be prepared, in writing, as of the bank statement ending date. At this time the broker should compare: a. The journal balance, b. The trial balance total, c. The reconciled bank statement balance (the adjusted bank balance). All three totals should show the same number. If they do not, the broker needs to continue to search for errors in either the journal, the ledger, or the bank reconciliation.
