Trial Balance

What is the Trial Balance in Akaunting?

The Trial Balance lists all the accounts in the general ledger and their balances at a specific time.

A trial balance ensures that your total debits and total credits are equal and balanced and identifies any errors or discrepancies that need to be corrected.

The Trial Balance in Akaunting typically includes the following information:

1. Account Name: This lists the name of each account in the general ledger, such as Cash, Accounts Receivable, Accounts Payable, General Expenses, Revenue, etc.
2. Account Type: This identifies the type of account, such as Assets, Liabilities, Expenses, Income, or Equity.
3. Debit Balance: This column lists the balance of each account in the general ledger that has a debit balance, which means the account has more debits than credits.
4. Credit Balance: This column lists the balance of each account in the general ledger that has a credit balance, which means the account has more credits than debits.

To see the Trial Balance, you need to Install or Purchase the Double-Entry app. After installation,

• Go to Reports on the Navigation Menu.
• On the Reports page, go to the Accounting section.
• Click Trial Balance.
• On the Trial Balance report page, you can use the filters to set the following:
  • Basis: Accrual or Cash
  • Chart of Account
  • Report date: Pick a specific period for your report.
• After entering your preferred filters, hit the Enter Key on your keyboard to refresh and view an updated report.

You can Print, Export, or Schedule Trial Balance reports from the top left corner of the page.

To schedule Trial Balance reports, you need the Schedule Reports app.