Trial balance

Trial balance is a source of information regarding individual components of company assets and capital. It provides information necessary to prepare elements of the financial statement, that is balance sheet, income statement, cash flow statement, etc.

Trial balance is a statement of journal entries on accounts. Turnover is the registry of all business transactions posted on an account. Balance is the registry of CR and DR sides, that is, all turnovers listed on an account in a given accounting period (including also the opening balance).

Trial balance is available from the level of menu Accounting, under [Trial Balance] button.

Trial balance can be displayed as:

  • Tree – hierarchical structure
  • List – flat structure
Trial balance

The list contains standard buttons which have been described in article <<Standard buttons>> and, additionally:

  • [Calculate] – allows for calculating trial balance
  • [Collapse All] – in case of a tree structure, it allows for reducing chart of accounts to general accounts
  • [Expand All] – in case of a tree structure, it allows for expanding a chart of accounts to a form including both general and subsidiary accounts
  • [Journal Entries] – allows for displaying journal entries for selected account
  • [Clearings] – allows for displaying the list of clearings for selected account in specified range of dates. The list of clearings can be displayed only for an account at the lowest level.
  • [Trial Balance] – allows for calculating trial balance for selected account

Trial balance is composed of the following columns:

  • Number
  • Name
  • OB DR, OB CR – account balances on the day of opening of accounting ledgers
  • Turnover DR, Turnover CR – turnover for the reporting period
  • Subtotal Turnover DR, Subtotal Turnover CR – turnover incrementally from the beginning
  • Balance DR, Balance CR, Ending Balance – balances at the end of reporting period
  • Currency – document currency, depends on the settings in the filter
  • Type (column hidden by default) – account type
Note
Totaling is possible from the level of the list of trial balance only upon selecting a specific currency in the filter of the option All in system currency. If system currency of accounts is different, value 0 is displayed in the summary.

Detailed description of filtering and calculating of can be found in article Trial balance calculation.

 

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