diff --git a/test/validateBalances.ts b/test/validateBalances.ts
index 9407002d..a41ac5ee 100644
--- a/test/validateBalances.ts
+++ b/test/validateBalances.ts
@@ -1,20 +1,21 @@
 /** 
- * Script to validate Ztg balance of an account with polkadot.js 
+ * Script to validate Ztg balance of an account against on-chain balance
  */
-import https from 'https'
-import { Tools } from "../src/processor/util"
-import { AccountInfo } from "@polkadot/types/interfaces/system";
+import https from 'https';
+import { Tools } from '../src/processor/util';
+import { AccountInfo } from '@polkadot/types/interfaces/system';
 process.env.NODE_TLS_REJECT_UNAUTHORIZED = '0'; // Temporarily stop verifying https certificate
 
-var falseCounter = 0, trueCounter = 0, falseAccs = ``;
+// Modify values as per requirement
 const WS_NODE_URL = `wss://bsr.zeitgeist.pm`;
-const accountLimit = 20; // Number of accounts that need to be validated
-const blockNumber = 1601267; // Balances from polkadot.js will be pulled as on this block number on chain
+const QUERY_NODE_HOSTNAME = `processor.zeitgeist.pm`;
+const ACCOUNTS_LIMIT = 20; // Number of accounts that need to be validated
+const BLOCK_NUMBER = 1601267; // Balances from polkadot.js will be pulled as on this block number on chain
 
 // GraphQL query for retrieving Ztg balances of accounts
 const query = JSON.stringify({
   query: `{
-    accountBalances(where: {assetId_eq: "Ztg"}, limit: ${accountLimit}) {
+    accountBalances(where: {assetId_eq: "Ztg"}, limit: ${ACCOUNTS_LIMIT}) {
       account {
         accountId
       }
@@ -25,7 +26,7 @@ const query = JSON.stringify({
 });
 
 const options = {
-  hostname: 'processor.zeitgeist.pm',
+  hostname: QUERY_NODE_HOSTNAME,
   path: '/graphql',
   method: 'POST',
   headers: {
@@ -47,14 +48,15 @@ const req = https.request(options, (res) => {
       console.log(JSON.parse(data).errors[0].message);
       return;
     }
+    var falseCounter = 0, trueCounter = 0, falseAccs = ``;
     const accounts = JSON.parse(data).data.accountBalances;
     const sdk = await Tools.getSDK(WS_NODE_URL);
 
     /**
-     * It is recommended to use `blockNumber` few blocks before finalized head 
+     * It is recommended to use `BLOCK_NUMBER` few blocks before finalized head 
      * of the chain so that subsquid has the data processed in its database.
      */
-    const blockHash = await sdk.api.rpc.chain.getBlockHash(blockNumber);
+    const blockHash = await sdk.api.rpc.chain.getBlockHash(BLOCK_NUMBER);
     console.log();
 
     for (var i = 0; i < accounts.length; i++) {
@@ -75,13 +77,13 @@ const req = https.request(options, (res) => {
     console.log(`\nTotal accounts checked: ${trueCounter+falseCounter}`);
     console.log(`Balances match for ${trueCounter} accounts`);
     if (falseCounter > 0) {
+      const falseAccsList = falseAccs.split(',');
       console.log(`Balances don't match for the below ${falseCounter} account(s):`);
-      var falseAccsList = falseAccs.split(',');
       for (var a in falseAccsList) {
         console.log(falseAccsList[a]);
       }
     }
-    process.exit();
+    process.exit(1);
   });
 });
 
diff --git a/test/validateHistoricalBalances.ts b/test/validateHistoricalBalances.ts
new file mode 100644
index 00000000..118b99ca
--- /dev/null
+++ b/test/validateHistoricalBalances.ts
@@ -0,0 +1,91 @@
+/** 
+ * Script to validate Ztg balance history of an account against on-chain data
+ */
+import https from 'https';
+import { Tools } from '../src/processor/util';
+import { AccountInfo } from '@polkadot/types/interfaces/system';
+process.env.NODE_TLS_REJECT_UNAUTHORIZED = '0'; // Temporarily stop verifying https certificate
+
+// Modify values as per requirement
+const ACCOUNT_ID = `dE1VdxVn8xy7HFH9dLeebJu3eELFqXXjK8c2cwEuRJXr4QAZA`;
+const WS_NODE_URL = `wss://bsr.zeitgeist.pm`;
+const QUERY_NODE_HOSTNAME = `processor.zeitgeist.pm`;
+
+// GraphQL query for retrieving balance history of an account
+const query = JSON.stringify({
+  query: `{
+    historicalAccountBalances(where: {accountId_eq: "${ACCOUNT_ID}", assetId_eq: "Ztg"}, orderBy: blockNumber_ASC) {
+      balance
+      blockNumber
+      event
+      dBalance
+    }
+  }`,
+});
+
+const options = {
+  hostname: QUERY_NODE_HOSTNAME,
+  path: '/graphql',
+  method: 'POST',
+  headers: {
+    'Content-Type': 'application/json',
+    'Content-Length': query.length,
+    'User-Agent': 'Node',
+  },
+};
+
+const req = https.request(options, (res) => {
+  let data = '';
+  res.on('data', (d) => {
+    data += d;
+  });
+  res.on('end', async () => {
+    if (res.statusCode == 200) {
+      console.log(`Validating response received from ${options.hostname}`);
+    } else {
+      console.log(JSON.parse(data).errors[0].message);
+      return;
+    }
+    var balanceDiff = BigInt(0), diffs = ``, blockNums = ``;
+    const balanceHistory = JSON.parse(data).data.historicalAccountBalances;
+    const sdk = await Tools.getSDK(WS_NODE_URL);
+
+    for (var i = 0; i < balanceHistory.length; i++) {
+      const blockHash = await sdk.api.rpc.chain.getBlockHash(balanceHistory[i].blockNumber);
+      const {data: { free: amt }} = (await sdk.api.query.system.account.at(blockHash, ACCOUNT_ID)) as AccountInfo;
+
+      if (amt.toString() !== balanceHistory[i].balance.toString()) {
+        // Avoid redundant errors in case of multiple transactions in a block number
+        if ((balanceHistory[i+1] !== undefined) ? balanceHistory[i].blockNumber !== balanceHistory[i+1].blockNumber : true) {
+          console.log(`\nBalances don't match at ${blockHash} [#${balanceHistory[i].blockNumber}]`);
+          console.log(`On Polkadot.js: ` + amt.toBigInt());
+          console.log(`On Subsquid: ` + balanceHistory[i].balance);
+          balanceDiff = amt.toBigInt() - BigInt(balanceHistory[i].balance);
+          diffs += balanceDiff + `,`;
+          blockNums += balanceHistory[i].blockNumber + `,`;
+        }
+      } else {
+        console.log(`Balances match at ${blockHash} [#${balanceHistory[i].blockNumber}]`);
+      }
+    }
+    if (balanceDiff == BigInt(0)) {
+      console.log(`\nBalance history for ${ACCOUNT_ID} is in alliance with on-chain data`);
+    } else {
+      console.log(`\nBalance history for ${ACCOUNT_ID} is not in alliance with on-chain data`);
+      const diffsList = diffs.split(',');
+      const blockNumsList = blockNums.split(',');
+      console.log(`The differences found are:`)
+      for (var i = 0; i < diffsList.length - 1; i++) {
+        console.log(`${diffsList[i]} units at #${blockNumsList[i]}`)
+      }
+    }
+    process.exit(1);
+  });
+});
+
+req.on('error', (error) => {
+  console.error(error);
+});
+
+req.write(query);
+req.end();
\ No newline at end of file