Trial Balance
One table for the whole period: a row per account, with opening balance, debit movement, credit movement and closing balance. It is the first thing an accountant opens to see the books whole.
Illustration of the Trial balance screen
| Function | What it does |
|---|---|
| 1. Period picker | The period to show, written YYYYMM. The arrows either side step back and forward. |
Reading it
- Total debit movement must equal total credit movement. That is the quickest check that the period's books balance.
- This period's closing balance is next period's opening balance — so consecutive months always join up.
- If an account looks odd, open its general ledger and read the entries.
Print it before you close
Look at the trial balance right before closing and period-end: a gap caught now is far easier to fix than one caught after the period is locked.
Related
- General Ledger — detail per account.
- Ledger Reconciliation — check nothing is unposted.
- Financial Statements — the statements built on these figures.