What is the Meaning & Definition of partial balance sheet

A partial balance sheet is a financial instrument that is used to visualize the list of total debits and credits of the accounts and the balance of each (which may be debtor or creditor). Thus, it allows to establish a basic summary of a financial statement. Partial balance reflects the accounting of a Corporation (or company) or an organization over a period of time. This assessment therefore acted as a basis when it comes to prepare the annual accounts.
Partial balance sheet also helps to confirm that the accounting of the company is well organized. It is possible that the balance sheet amounts and balances is correct and that, nevertheless, he understands a faulty accounting. This may be the case, for example, someone who pays a supplier any but which is wrong in noting that this payment has been set to one someone else. Theoretically, the balance sheet would be correct from after the numbers but not in practice.
The development of a partial balance begins with the realization of the sums of annotations for each account, as well the debit than credit. The following approach is to get the balance of each account (the difference between the debit and credit). Finally, money and achieved balances are transferred to the balance sheet.

In general, partial balance sheet is a volunteer for the contractor that recommendable document so that he can know accurately the financial state of his company while avoiding to reproduce the errors at the time of the preparation of accounts annual.