Following one sided errors would cause difference in the trial balance-
(i) Partial Omission.
(ii) Wrong casting of subsidiary books
(iii) Posting wrong amount in ledger
(iv) Posting on wrong side of account
(v) Wrong Balance of account
Errors which will not be revealed in trial balance are as follows :
(i) Complete Omission.
(ii) Error of principle
(iii) Compensating errors
(iv) Recording wrong amount in Journal
(v) Posting amount in wrong account but on correct side.

Suspense Account may be defined as a temporary account to which the difference in trial balance has been put till the errors are located and rectified. For example, a payment received from an unidentified party is recorded as
Bank A/c  Dr.
Suspense A/c
While preparing Trial Balance, if an accountant is unable to detect the difference in the totals of the Trial Balance, he can put the difference in suspense account. If the debit side is short the suspense account shall be debited by the amount of difference. If the credit side is short, then the difference shall be credited to the suspense account Thus, with the help of the suspense account the trial balance will get balanced. As soon as the errors are detected, these are rectified by passing Journal
entries.
It is not necessary that suspense account will balance off after the rectification of errors everytime. In that case, Debit balance of suspense account is shown on assets side of Balance sheet and credit balance of suspense account is shown on liabilities side of Balance sheet.
When all the errors leading to difference in the trial balance are located and rectified then only suspense account shall be closed automatically.

Advantages of preparing Suspense Account are as follows:
(i) Avoiding the delay in the preparation of Trial Balance: The main objective of opening suspense account is to avoid the delay in the preparation of final accounts due to the disagreement of the trial balance. After putting the difference of trial balance in suspense account, the accountant can prepare the final accounts.
(ii) Indication of errors: The balance in suspense account shows the difference in trial balance. Thus, it indicates that there are some errors in accounting books leading to disagreement of trial balance. Most of such errors are affecting only one account. As soon as these errors come into notice they are rectified by passing a rectifying journal entry, through suspense account. Thus, when all the errors affecting the trial balance are located, the suspense account is automatically closed.
(iii) Other uses: In practice, in addition to making up the difference in trial balance, suspense account maybe debited or credited when the exact treatment of any transaction is not known to the accountant.

If the Trial Balance agrees, then it should not be taken for granted that there is absolutely no errors. Infact, there do exist some errors that are not revealed by a Trial Balance. Such ineffectiveness of the Trial Balance is termed as the limitations of Trial Balance. The various limitations of the Trial Balance are given below:
(i) It does not assist to detect errors that arise if an entry is not recorded in the Journal. Such errors are termed as the Errors of Complete Omission.
(ii) If the effect of one error is cancelled by the effect of another error, then it cannot be ascertained by the Trial Balance. Such types of errors are termed as Compensatory Errors, which are rare to find.
(iii) If correct amount is posted in the correct side; however, in the wrong account and if wrong amount is posted in the wrong side, but in the correct account, then the Trial Balance fails to reflect these errors.
(iv) If there arises any error of principle, like capital expenditure mistakenly regarded as revenue expenditure or vice-versa, then such errors may not be revealed in form of mismatch between the two columns of the Trial Balance.
(v) If any transaction is recorded wrongly in the books of original entry, then such mistakes lead to the errors of recording which are not revealed by Trial Balance.

Functions of a Trial Balance: (i) Ascertaining arithmetical accuracy: To act as a device to check the arithmetical accuracy of the accounting process culminating in the ledger accounts. If the Trial Balance agrees, it may be taken that arithmetical errors do not exist, even though this cannot be conclusively stated.
(ii) Summary: To afford a summarised version of the position of each account and accounts in general. Scanning the Trial Balance enables one to know the assets that one possesses, the amounts that are owing to others and the amounts due from others, etc.
(iii) Facilitates preparation of financial statements: To act as a starting point for the preparation of the final accounts, viz., the Profit & Loss Account and the Balance Sheet. The final accounts are made on the basis of the Trial Balance. The various adjustments that are to be made can be made only after the Trial Balance is ready.
(iv) Facilitating audit: To enable the auditor to see whether any corrections were made after the accounts were checked. The Trial Balance establishes figures relating to various accounts as on a particular date. Any correction that becomes necessary should be made later by specific journal entry. A correction made in the accounts already checked, without such a journal entry, will be easily known as it will necessitate a change in the balance of the account concerned.
The Trial Balance, thus, is a very useful device to control and check inaccuracies and act as a basis for further accounting work, mainly preparation of the Profit and Loss Account and the Balance Sheet.