(i) Balance is the difference between the total debits and the total credits of an account.
(ii) Balancing means the writing of the difference between the amount columns of the two sides in the lighter (Smaller Total) side, so that the grand totals of the two sides become equal.

(i) The excess of debit total over the credit total is called the debit balance.
(ii) When there is only debit entries in an account, the amount itself is the balance of that account, i.e., the debit balance

(i) Ledger is known as Principal book of accounts because it is very useful for a business enterprise.
(ii) It is a book which contains all sets of accounts, namely, personal, real and nominal accounts
(iii) Account-wise balance can be determined from the ledger.
(iv) The ledger accounts are opened or maintained based on journal entries passed.

(i) The debit and credit columns of an account are to be totalled separately.
(ii) The difference between the two totals is to be ascertained.
(iii) The difference is to be placed in the amount column of the side having lesser total. 'Balance c/d' is to be entered in the particulars column against the difference and in the date column the last day of the accounting period is entered.
(iv) Now both the debit and credit columns are to be total and the totals will be equal. The totals of both sides are to be recorded in the same line horizontally.
(v) The total is to be distinguished from other figures by drawing lines above and below the amount.
(vi) The difference has to be brought down to the opposite side below the total.
(vii) 'Balance b/d' is to be entered in the particulars column against the difference brought down and in the date column, the first day of the next accounting period is entered.
(viii) If the total on the debit side of an account is higher, the balancing figure is debit balance and if the credit side of an account has higher total, the balancing figure is credit balance. If the two sides are equal, that account will show nil balance.