Which accounting procedure is used to verify the equality of total debits and credits?

The procedure used to verify the equality of total debits and credits is the trial balance. This accounting tool compiles all the ledger accounts and their balances into a single report. In a trial balance, the sum of all debit balances is compared to the sum of all credit balances. If these totals match, it indicates that the books are in balance, which is essential for accurate financial reporting.

This process is crucial because it serves as an initial check for any errors that may have occurred during the recording of transactions. The trial balance is typically prepared at the end of an accounting period to ensure that the double-entry accounting method, where every debit has a corresponding credit, has been correctly applied. Therefore, the trial balance is fundamental in maintaining the integrity of the financial statements that follow.

Other accounting procedures mentioned, such as account reconciliation, general ledger, and financial audit, serve different purposes and are not primarily focused on verifying the equality of total debits and credits in the same direct manner as a trial balance.