Trial Balance

A simple snapshot of all financial transactions within a given period. Use this report to see opening balance, closing balance and amount debited and credit for each of your accounts within the selected time period.


To compare Balance Sheets across multiple time periods, try Balance Sheet by Periods


This report is only available to users with Financial Reporting permissions. 


NOTE: Trial Balance is a financial transactions report. You may see discrepancies in totals compared with Inventory reports which track actual stock in and stock out. If you see a discrepancy, the first place to check is the Transactions vs Stock on Hand Difference report – the most common cause of discrepancies is goods invoiced not received or goods received not invoiced. You may want to enable Inventory Accrual transactions if this a common scenario for your business.

Manual Journals can also cause discrepancies, as they will be reflected on the Balance sheet but may not be included in the Inventory Movement report.


Prerequisite


Table of Contents


Data from this report can be exported in Excel, PDF or RTF format. 


Input:

Reporting PeriodAllows the user to select the reporting period from a list of options or set a custom date range.
LayoutSet to the Default layout. Allows selection of saved layouts, if any. 
Save Layout AsAllows saving a layout for potential future use.
Reset LayoutResets the layout to the default layout or selected saved layout.


Select Apply Filter to set filter fields for the report and Update to refresh the output with any new changes. See Managing DEAR Reports - Filtering Reports for more detailed information about using filters. 


Output:

The following output fields are available for this report. 


Fields
Account ClassLedger account class
Account CodeLedger account code
DescriptionAccount description
Job #Job number if applicable
Data Headers
Opening BalanceOpening balance for the account
DebitAll debit turnovers for the period
CreditAll credit turnovers for the period
Closing BalanceClosing balance for the account


Publish

Balance sheet by periods can be Saved or Published to save a snapshot of the report and its settings where the data and date range cannot be changed. 



Published reports can be accessed from the top right of the reports screen in the Published tab. Reports that have been saved but not published will appear in the Draft tab. 



Add notes to a report for publishing by clicking the drop-down arrow in a cell and clicking Add a footnote. You will then be able to enter text in the notes field below the report. Notes text will be saved to draft or published reports. 

FAQs

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My Trial Balance report does not balance between debit and credit. 

This can be caused by incorrect account codes used in some places and in transactions, as a result causing this issue. You can get in touch with DEAR support to help remap to the correct codes and rectify this error.


I have the Trial balance and inventory movement report and the ending balance do not agree, I do not understand how this can be possible. 

The Inventory Movement report is the actual record of received stock and stock out, however the trial balance is a snapshot of all financial transactions of the given period of time. It is likely that you may have some stock that has been invoiced but hasn't been received or received but not invoiced. Please check Reports->Financial Reports->Transactions vs Stock On Hand differences. It will show you all documents where discrepancy comes from. 


We need help understanding why inventory asset value is added in April for stock invoiced in April but received in May as shown on the Trial Balance and Stock Received vs Invoice Report. 

Balance Sheet reflects transactions. Invoice generate this transactions because it has asset account in invoice line. This can be changed by enabling Inventory Accrual going forward. When inventory accrual is enabled, invoice will generate different transaction, replacing asset account in invoice line with Goods Invoiced Not Received account.


Why does Trial balance data differ from Transaction Report data? Which is correct? The Total for period (Trial Balance) and Grand Total (Transaction Report) do not match up for debit turnover for account XXXX. 

A credit note was issued for a refund. This is shown in the Trial Balance, but not in the Transactions Report (only debts are included). Trial Balance is the most accurate net total.


I am checking the sales taxes I should pay, but it is showing different amount on the reports. The Sales tax Report Shows $64.086.132, and the Trial Balance for this tax (account  240801) shows 8.841.716. Please help.

Problem was caused by tax rule component having incorrect account code. As a result, tax transactions were created to wrong account. Account remapping has been done to rectify this issue (you can contact DEAR support for help with this)


Now there is still a discrepancy between Trial balance account 240805 and Sales Tax Summary IVA 19% (19.000%) tax. This discrepancy is due to opening balance invoices having this tax rule set. But for opening balance invoices there is no tax transaction created. 

You can use Trial balance as correct report for tax purposes, and going forward if you exclude period with opening balance invoices, both reports should match.


We are trying to tie the inventory balance figure as per the trial balance as at 31 May back to a stock on hand figure. 

You could generate the Inventory Movement Summary report to check your stock value at a specific date. Make sure you have applied the date range: From and To date as May 31st.


I’m currently having issues with my trial balances not matching with the values in xero. Since setting up the integration with Xero, I have chosen to sync my historical data with Xero but of course this has caused issues on my side particularly with balances.

Users can enter opening balances into DEAR if they want their trial balance to match with what they have in Xero.



Still no answer to your question? Please do not hesitate to get in touch with DEAR support.

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