Purpose
The Trial Balance report provides a snapshot of the financial standing of your accounts by displaying the total debit and credit balances for each account at a specified date. This report helps verify that the sum of all debits matches the sum of all credits, indicating that the ledger accounts are balanced. Regularly reviewing the Trial Balance can assist in identifying errors or discrepancies in accounting entries early.
How to Generate the Report
To access the Trial Balance report:
Navigate to the Reports page.
Under the Accounting category, select Trial Balance.
Report Parameters
Customize the Trial Balance report by setting these parameters:
End Date: Defines the cutoff date for transactions to include in the report.
Company: Select one or more companies to include their accounts. By default, all companies are selected.
Exclude Closing Transactions: By default, set to Yes to exclude year-end closing entries. Set to No if you wish to include these transactions.
Building: Choose a specific building to focus on or select All Buildings for a comprehensive view.
Report Output
The Trial Balance report lists:
Each account with its corresponding Debit and Credit amounts.
Totals for the Debit and Credit columns at the bottom, allowing easy verification that debits and credits are balanced.
Related Reports
Trial Balance - Detailed
Includes an additional Start Date parameter.
Shows previous balance, current period, and ending balance for every account.
Accounts are grouped by account category for better organization.
Trial Balance - Detailed DR/CR
Similar to the Trial Balance - Detailed report but further splits the Current Period into Debit and Credit columns.
Displays previous balance, current period debit, current period credit, and ending balance for each account.
Use these reports regularly to ensure the accuracy and integrity of your financial data.
