Description
The Trial Balance report is used for reviewing activity by debit, credit, and resulting balance against each Ledger Account at each location level, as well as at all consolidating location levels. The report provides a clear financial snapshot as of a specific date.
Caution: The Trial Balance will only balance in current years when prior fiscal accounting years have been closed. PLease close all previous fiscal years under Admin>Acc Periods for accurate results.
Report Balances
For guidance in how balances are displayed according to Ledger Account Type:
Balance Sheet Ledger Accounts (Asset | Liability | Equity) include all journal lines through the end date of the report.
Closing entries are only included for Balance Sheet type accounts.
Income Statement Ledger Accounts (Revenue | Expense) include all journal lines from start of accounting year until the end date of the report.
Balance Drill-Downs
By clicking into the Balance on a given line in this report, you can see all of the journal lines that make up that balance. Additionally, you can further click into a Journal Number to see a detailed view of the Journal Entry, its associated details, and its audit logs.
Report Configuration Settings
The available report configurations to customize the view and balances delivered for the Trial Balance report can be adjusted on the right slider tab of the report:
1. Column Format
Standard - returns a report with Debit balance, Credit balance, and Ending Balance per Ledger Account as of one ending date (e.g. end of month).
Comparative - returns a report with Ending Balance per Ledger Account per multiple ending dates (e.g. Month over Month, Quarter over Quarter, Year over Year).
2. Location
The Location to run a Consolidated or Unconsolidated Trial Balance.
3. Date
Standard
Date - The ending date to return cumulative balances through to.
Comparative
Select the Start Date to run the report from.
Select the End Date to run the report cumulatively through
These dates along with the type of comparison will determine how many columns are used in the report as Months, Quarters, or Years.
4. Consolidation
When the Consolidation Toggle is ON, balances are consolidated for the selected Location and its child Locations.
Features:
Includes journal lines from the specified Location and all children Locations.
Incorporates elimination journal lines.
Mandates setting consolidation rates for child-parent Location pairs with differing currencies.
Translates and consolidates all balances to the currency of the specified Location's reporting currency.
Utilizes spotRate for Balance Sheet accounts and Weighted Average Rate for Income Statement accounts during currency consolidation.
Applies historicalRate for Equity Ledger Accounts that have been designated for historical rates (set at Ledger Account level).
Provides a translation adjustment figure, calculated as the sum of Balance Sheet account balances minus the sum of Income Statement account balances that is displayed in the Cumulative Translation Difference report section.
For Comparative reports, the translation difference is calculated for each comparative column.
When the Consolidation Toggle is OFF, balances are unconsolidated for the selected Location.
Features:
Excludes elimination journal lines.
Consolidation Rates are not required.
Returns balances in the currency of the specified Location's reporting currency.
Processes transactions exclusively from the specified Location.
5. Hide Zero Balance
Defaults to toggle ON
Hides Ledger Accounts where the resulting balance is zero.
Ledger Accounts with no activity are never included.
6. Journal Status
Options: Dropdown filter to include
Alljournal lines (Default),Draftjournal lines, orPostedjournal lines
7. Column Type
For comparative format Trial Balance report, you can select Month, Quarter, or Year.
Report Filters
The Trial Balance can be filtered to find the right Ledger Account or set of Ledger Accounts based on the below Ledger Account fields (case-insensitive):
Name
Number
Type
Report Group
Subtype
Report Columns
Column | Description |
Number | The Ledger Account Number associated with the Ledger Account. |
Name | The name of the Ledger Account. |
Type | The Ledger Account Type of the Ledger Account (Asset, Liability, Equity, Revenue, Expense). |
Sub-Type | SubType of the Ledger Account, offering further granularity within the Account Type. |
Report Group | The Report Group group categorizing the Ledger Account (e.g. Cash, Accounts Payable, Revenue). |
Debit | The total debit journal lines for this Ledger Account in the selected Location (Standard Format report only). |
Credit | The total credit journal lines for this Ledger Account in the selected Location (Standard Format report only). |
Balance | The balance of the Ledger Account (calculated as Sum(debits - credits)). |
Comparative Balance Columns:
Monthly comparative report has the columns as
01-2024,02-2024,03-2024, etc.Quarterly comparative report has the columns as
Q1-2024,Q2-2024,Q3-2024,Q4-2024Yearly comparative report has the columns as
2024,2023,2022, etc.
Saving and Sharing
When a Trial Balance report is saved, the following configuration is saved:
Visible Columns
Column Order
Column Width
Pinned Columns
Location
Date
Consolidated ON/OFF
Hide Zero Balance ON/OFF
Journal Status All/Posted/Draft
Exports
The Trial Balance Report will be exported in xlsx format, and can be done so by clicking export and then export detail:
Standard Format
Comparative Format
