A Trial Balance is a financial report used in accounting to check whether the total of all the debit and credit entries within an organisation’s ledger accounts balance to zero. If the totals do not match, it indicates potential errors in recording transactions, such as omissions, duplications, or incorrect amounts, which need to be investigated and rectified. This document lists all the accounts from the general ledger with their balances at a specific date.
A Trial Balance is usually divided into main categories which include assets, liabilities, income, expenses, and equity accounts.
This document will teach you about the Trial Balance module including how to review account balances, confirm double-entry accuracy, and prepare for financial reporting.
Navigation: Main Menu > Accounting > Financials > Menu (button) > Trial Balance.
Table of Contents
To view the Trial Balance for a specific date or financial period:
Click the drop-down list next to Financial Year and select the relevant financial year.
Select the Period Months from the Period drop down to refine the selection (optional).
Click the View (button) to refresh the Trial Balance display.
The Trial Balance provides a Balance field at the top right, which shows a calculated balance:
Zero Balance: If the balance is zero, all transactions are accurately paired with corresponding debits and credits and no further action is required.
Non-Zero Balance: A non-zero balance indicates an error in the double-entry system. Investigate and correct these discrepancies to maintain accurate records.
Tick the checkbox next to Show All Accounts to include all accounts in the view, including those with zero balances.
Click View (button).
Tick the checkbox next to Order by Acc No. to sort the Trial Balance in numerical order.
Click View (button).
Note: If account numbers are not used, the accounts will be displayed in a random order. The account number field can be added using the Field Chooser (*).
Click the Accounting radio button.
Click View (button).
Click the Transaction radio button.
Click View (button).
Click the Categories radio button.
Click View (button).
Note: When viewing categories, the amount displayed in the Balance field represent the retained income or loss for the selected period (if the Balance is zero when the Trial Balance is unfiltered).
Click the arrow on the dropdown list next to Filter.
Click Income Statement to only view accounts that are on the Statement of Profit or Loss.
Click Balance Sheet to only view accounts that are the Statement of Financial Position.
Click All to reset this filter.
Click View (button).
Note: When applying any of these two filters, the amount displayed in the Balance field represent the Retained Income or Loss for the selected Period (if the Balance is zero when the Trial Balance is unfiltered).
Click View (button) to display a Trial Balance.
Click the small filter icon next to any column to refine the display.
Click View (button) to display a Trial Balance.
Double-click any account to view the General Ledger Account, or
Right click any account and click View Detailed Ledger from the context menu.
Note: If Show All Accounts is unticked, you may receive a message prompting you to select a General Ledger Account, depending on whether the amount represents an individual account or an aggregate. This process takes you to the Ledger. Click Main Menu > Accounting > Financials to return to the Trial Balance.
Click the Field Chooser (*).
Tick the available fields to include or exclude columns.
Note: The available columns change depending on the chosen radio button (Accounting, Transaction or Categories).
Click View (button) to display a Trial Balance.
Right-click any column and click Group By This Field, or
Drag a column header to the bar on which the search block is.
Click View (button) to display a Trial Balance.
Click any column header to sort the Trial Balance by that column.
Click Menu (button) > Hide decimal values.
Click View (button).
Click View (button) to display the current Trial Balance.
Print Options:
Click Output > Print to send the report directly to the default printer.
For printer selection, click Print (Show Dialogue) to choose a specific printer, including options like a PDF printer.
Click View (button) to display the report.
Click Output > Preview to display a preview of the Trial Balance.
Note: You can print this view by clicking the Printer Icon to send the preview to your preferred printer.
The system allows users to email the Trial Balance in different formats:
View the Trial Balance by clicking View.
Email Options:
To email an Excel copy: Click Menu > Email Excel.
To email a PDF copy: Click Output > Email > Select the Template (if applicable) to send the document in PDF format.
Click Menu (button) > Reset Data Filters to revert the Trial Balance display to its original settings.
Click View (button).
Click Menu (button) > click an option under the Views heading:
Dashboard
Statement of Profit or Loss
Statement of Financial Position
Click Menu (...) next to any entry on the Trial Balance.
Click Add Financial Statement Notes.
Type in the note in the pop-up.
Select a Period from the dropdown list.
Click Save (button).
Click Close (button).