After Net Income or Loss is entered on the end-of-period spreadsheet, the debit column total must equal the credit column total for the Balance Sheet pair of columns.

This is because the Balance Sheet reports the financial position of a company at a specific point in time and follows the accounting equation, which states that Assets = Liabilities + Equity. Therefore, the total debits (representing assets) must equal the total credits (representing liabilities and equity) for the Balance Sheet to be in balance. The Net Income or Loss is not included in the Balance Sheet pair of columns as it is reported on the Income Statement pair of columns.