Navigation: General Ledger System > Financial Statements & Reporting: Trial Balance Report This Help File Page was last Modified on 02/10/2024

❑The Trial Balance Report provides:

• A comparison of all of your Debit and Credit transaction entries;

•For all Financial Transactions that were posted to all of the Debit and Credit account types; and

•Determines whether your General Ledger is In-Balance.

•This Trial Balance Report may be requested for any Date, current or past, required to analyze the status of your Company's General Ledger Trial Balance at that designated point in time.

 

❑Understanding the General Ledger Checkpoint created from the Trial Balance Report:

a)When a Trial Balance Report is created for All Divisions and All Departments, that report's data set is inserted as a Checkpoint.

 

Trial Balance Report - Options tab - All Divisions & All Departments

 

Print Preview for GL Checkpoint from Trial Balance Report - All Divisions & All Departments

 

b)When a Trial Balance Report is created for a set of one or more selected Divisions (see "Divisions" below) and/or a set of one or more selected Departments (see "Departments" below), that report's data set is not inserted as a Checkpoint.

 

❑Summary by Account Type - A few words about the Trial Balance and its importance in relation to reporting for a closed month:

•Always examine the Summary by Account Type section on last page of your Trial Balance.

✓The total Value in the Debit column should equal the total Value in the Credit column.

 

 

✓The Assets plus the Expenses account totals should equal the sum of the Liabilities, Equity and Sales account totals.

✓Also, the Expenses total should equal Sales total.

▪This is because each Financial Transaction posted to the General Ledger System is analyzed to determine whether it will affect Profit or Loss.

▪When it does, the system  automatically posts the appropriate Financial Transactions for Profit or Loss Amounts to the Mandatory Current Earnings and Earnings Posting Accounts (which is included in the Expenses total).

 

❑To access the Trial Balance Report dialog use either of these two methods:

a)From the Backstage Menu System Select Reports and Choose the General Ledger Menu, then Click the Trial Balance option, or

b)From the Quick Access Menu, Select Reports and Choose the General Ledger Menu, then Click the Trial Balance option.

 

•Those General Ledger Accounts with a zero balance ("$0.00") based on the As Of Date selected below will not be listed in the Trial Balance report.

 

❑Trial Balance Report tabs - There are three tabs on the Trial Balance dialog.

•Options - Initially only the Options tab is shown (until you make your Options selections and Select Print).

 

Trial Balance Report - Options tab

 

✓As Of - By default, when accessing this field's Drop-Down Calendar/Date Entry field, will by Today.

▪Use the Drop-Down Calendar/Date Entry field provided to Choose Today, or select a different As Of Date for this Trial Balance Report, if needed.

 

Trial Balance Report - Options tab - As Of Date field

 

✓Group by GL Accounts - Check this box to list each General Ledger Account only once, with only a summary total for all Financial Transactions posted for any Department and/or Division.

▪If no Check is inserted, the Financial Transaction total for each General Ledger Account will be listed for each Department and/or Division,

▪This will result in the same Account being listed multiple times to show the subtotals for each individual Department and/or Division

▪However, as described below, the report may be limited to a specific set of one or more Departments, and/or one or more Divisions

 

✓Divisions - By default, the Financial Information from All Divisions will be reported:

▪Specific - To specify a specific Division to be reported (i.e., No Division assigned, or a set of one or more Divisions):

oClick the Specific button and Click the Ellipse on the right side of the Specific field.

oUsing the Select Division dialog that will be displayed:

 

Select Division dialog

 

oCheck which Division(s) are to be included in this report.

oClick the OK button.

oWhen reporting by a selected set of one or more Division(s) (instead of All Divisions), the Summary by Account Type section will not be included in that report.

 

✓Departments - By default, the Financial Information from All Departments will be reported.

▪Specific - To identify a specific set of one or more Department(s) to be reported:

oClick the Specific button and Click the Ellipse on the right side of the Specific field.

oUsing the Select Division dialog that will be displayed:

 

Select Department dialog

 

oCheck the Department(s) to be included in this report.

oClick the OK button.

oWhen reporting by a selected set of one or more Department(s) (instead of All Departments), the Summary by Account Type section will not be included in that report.

•Print - Click the Print button to Preview and optionally Print (to a File or a Printer) this Trial Balance Report.

 

❑The Preview tab presents the report which resulted from the Options you've selected.

•GL Number - The Transaction Number for each entry is underlined and printed in Blue.

✓While Previewing the Trial Balance Report, you may Click on any General Ledger number to open the Account Register Form for this General Ledger Account.

•Up Arrow/Down Arrow - hi - Moves the report one line up, or one line down, respectively.

•Page Up/Page Down - Moves the report to the previous or next page, respectively.

 

Trial Balance - Preview tab

 

•Arrows - The arrows allow you to move back and forth, from page to page.

•Number - Indicates the page number you are viewing.

✓You may also type in a specific page number, Press 8 Enter and that page will be displayed immediately.

✓If you enter an invalid page number, it will be ignored.

•Fit To Page - Click the first button after the arrows to size a full page of the report to fit the screen.

•Zoom To 100% - Click the second button after the arrows to display the page at 100% (of the printed view).

•Fit To Page Width - Click the third button after the arrows to size the page of the report to fit the full width of the screen.

•Zoom To Percentage - Click the fourth button after the arrows to re-size the page of the report by percentage.

 

✓When you Click the Zoom To Percentage button, the Percentage selector will be displayed.

✓You may then Click the Up  or Down ‚ arrows to set the exact amount of Zoom you want.

 

Trial Balance by GL Account - Preview tab

 

•GL Number - Click any General Ledger Account Number to view the Account Register for that GL Number.

 

 

•Print - Click the Print button to Print (to a File or a Printer) the displayed Profit & Loss Statement, and may also be converted to a PDF or various other types of documents, or into an Excel® Spreadsheet file

•Email - Click the Email button to send the Report to an Email Address of your choosing.

•To Exit the Preview tab and Close this Report dialog Form, Click the Close box on the right at the top of the Preview tab.

 

❑Checking the In-Balance status:

•At the end of the Trial Balance Report, the Debit (Assets and Expenses) and Credit (Liabilities, Equity and Revenue) account types are compared to ensure that your system is In-Balance.

 

Trial Balance Report - Summary By Account Type sample

 

✓In the illustration above, as shown in the the Summary by Account Type section,  the Trial Balance is In-Balance.

 

 

❑Data View - This view provides a tabular (spreadsheet style) presentation of the selected data.

 

Trial Balance - Data View tab

 

•Arrows - Click the arrows to move through the record.

•Export - Exporting the data from this Data View Form (note the "fly-over" help available on these buttons):

✓Export to CSV - Click the first button after the arrows to export the data to a Comma Separated Values (CSV) file format.

✓Export To Excel - Click the second button after the arrows to export the data to an Excel (.xls) file format.

✓Export To Html - Click the third button after the arrows to export the data to an HTML formatted file.

•To Exit the Data View tab and Close this Report dialog Form, Click the Close box on the right at the top of the Data View tab.