Trial Balance

The Trial Balance is the place to check that all the Accounting transactions balance.

A Trial Balance shows the movement of values between Balance Sheet and Income Statement accounts. The Opening option is used for Real Accounts that are only updated once annually. eg. Retained Earnings. With this option, the Trial Balance is only populated with the Opening Balance as at the start of the Financial Year.

Navigation

Main Menu > Accounting > Trial Balance

1. Data filter - The Data Filter allows you to select a Financial Year followed by a range of Months (Periods) in the Financial Year. The Financial Year filter will be automatically be populated to include the dates of all the Ledger Transactions. The Periods filter will be populated according to the Setting: Financial Year - Starting Month.

2. Report - This allows you to select what is shown in the data grid - this is used for Reporting or Output purposes.

   • All - This shows all the Trial Balance records.

   • Income Statement - This shows only Income Statement records.

   • Balance Sheet - This shows only Balance Sheet records.

3. Show all check box - This allows you to view all the Trial Balance accounts, even if there is no movement against them. By default, only Accounts with values in them are displayed.

4. Balance - This shows the Balance. If the Trial Balance is out of balance, this value will display in red.

5. Report - This shows what Accounting Report the Account is linked to - Balance Sheet or Income Statement.

6. Category - This shows which Accounting Category the Account is linked to.

7. Account Group - This shows what Account Group this record is linked to.

8. Account - This shows what Account this record is linked to. Double-click an Account to access the Account Summary.

9. Opening - This shows the Opening Balance.

10. Movement - This shows what values have moved through the Account.

11. Debit - This shows the total Debits against the selected Account for the selected date period. This can be set here: Setup > Accounting > Categories > Type.

12. Credit - This shows the total Credits against the selected Account for the selected date period. This can be set here: Setup > Accounting > Categories > Type.

13. Balance - This shows the total balance for the Account.

The Trial Balance has three views, anAccounts Viewthat displays a list of Accounts and their corresponding balances, a Categories View, which sorts the report by Categories, and aTransactions Viewwhich displays all the Transactions that make up the Trial Balance. Use theMenu > View Accounts or Menu > View Categories or Menu > View Transactionsto change the view. If theAccounts Viewbalances, theTransactions Viewwill also balance, but the totals in the Debit and Credit columns will of course differ.

The Trial Balance can be sorted by Report, then Account Number, then Account.

Upgrade notes

• Audits - Rebuilds- Rebuilds of the Trial Balance are now Audited.

Setting up

Click here for more on how to setup Account Categories for Trial Balance.