Accounting Ideas

Trial Balance that is a trial balnce

A trial balance is a report which includes the full balance sheet at a date with the reserves brought forward from the previous years P&Ls rolled up, then with any transactions form this accounting period in the P&L.
The reports you give as default are transactional nominal reports. The standard should be the report which is the "as of" report with the "summarise P&L values" box ticked.
Then when you click on the code to drill down it should show a brought forward figure and the transactions in the period form the last accounting year end to the as of date. Much as the offline system used to which is the accounting convention.

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  • Jun 1 2023
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