Trial Balance

Overview

The Trial Balance describes a list of all the general ledger accounts with their respective debit or credit balances. It serves as a preliminary step in the financial statement preparation process, allowing for the identification of any potential errors or discrepancies before finalizing the financial statements. 

Views

The Trial Balance views can be toggled using the Menu (Button). The Views include:

• Categories - Lists Account Categories

• Accounts - (Default) - Lists all the general ledger accounts

• Transactions - Lists every General Ledger Transaction for the selected Period.

Fields (Default View)

Opening - This field displays the opening balances from the previous period. Debits are positive, Credits are negative. If this column sums to zero, it indicates the previous period was balanced.

Movement - This field displays the movement for the selected period. Debits are positive, Credits are negative. 

Debit, Credit - The balance at the end of the selected period.