trial balance

then do we record opening inventory on the credit side of trial balance?

headbayo is not quite right - closing inventory should be determined on the last day of the financial year, not the day after. The trial balance is prepared immediately after the bookkeeping is finished, but before the year end adjustments (inventory, accruals and prepayments, depreciation, irrecoverable debts). It is prepared to check that the bookkeeping has been done correctly - that the debits to equal the credits. For that reason, the balance on the inventory account will be the balance that was left there last year - i.e. the opening inventory. It will be a debit balance. If you have not already done so then you should watch my lectures on double entry booking and trial balance (and the adjustments for inventory etc,)

Thank you so much, i understood..

Great :-)