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Using the Trial Balance Report

You can run a Trial Balance report by choosing Trial Balance in the Other Reports screen. You can:

  • Change the date of the report.
  • Add another date to the report as a comparison.
  • Save, print and email the report.

 

What does the report show?

The Trial Balance report lists all your accounts and their balances on a particular date. Each account shows either a debit balance value or a credit balance value, listed in either the debit column (Dr) or credit (Cr) column.

The purpose of a Trial Balance is to prove that the value of all the debit value balances equals the total of all the credit value balances. If the total of the two columns differ, this would indicate an error in the accounts. Since every transaction in EasyBooks is a double-entry between two accounts there should never be a difference in these totals. However, it is possible to make errors in the initial setup of your opening balances. If you see the line Opening Balances in your report, refer to the next heading to find out more.

 

What does the line "Opening Balances" indicate?

It is possible to make errors in the initial setup of opening balances such that your accounts are not in balance. If this is the case, EasyBooks shows a line labelled Opening Balances at the end of the report, together with the amount needed to bring the accounts back into balance. You should review your opening balances if this line appears.

Every transaction moves money from one account to another without loss. For example, if you pay dividends, you will normally pay these as a transaction between your Bank account and one of your Capital / Net Worth accounts, such as your Retained profit account. The balance of both accounts is affected by the same amount because the double-entry system is managed by EasyBooks. This is not the case for your Opening Balances. If you are setting opening balances, be careful to use the correct figures for all accounts so the accounts are still in balance. Use the Trial Balance report to check. If the Opening Balances line appears, your accounts are not balanced.

 

How does EasyBooks pick the initial date for your report?

You can use Previous and Next to change the report date quickly to the previous or next financial period. The report will run for the last date of the financial period selected.

 

How do I view a previous year's report?

You can use Previous and Next to change the report date quickly to the previous or next financial period. The report will run for the last date of the financial period selected.

 

How do I save, print or email the report?

In the report screen, click send located in the top-right corner of the screen, followed by one of the send options.

 

Options in this Screen

 

Previous/Next

You can use Previous and Next to change the report date quickly to the previous or next financial period. The report will run for the last date of the financial period selected.

 

Date 

You can set the date to run the report for a different point in time.

 

Show Contained

If you have any accounts in a container account, only the total for the container is presented in the report. Use this option to show all the individual accounts. For information about container accounts, please refer to "Adding or Editing an Account".

 

Show Comparison

Add a second date to the report using this option. This is typically used to compare how the figures have changed from one date to another. Enter the comparison date in the field provided.