First step towards preparation of financial statement is done by trial balance which is closing the balances of all ledger accounts. This reports is usually prepared at the end of the accounting period. In trial balance, Asset and expense accounts appear on the debit side and whereas liabilities, capital and income accounts appear on the credit side. The total of all debit balances appearing in the trial balance must equal to the sum of all credit balances.
This report can created in three different sections they are Current, Previous and Custom. In current, reports can be created by using Today, Current Month, Current Year, Current Quarter and Previous, reports can be created by using Yesterday, Previous month, Previous Year, Previous Quarter. Using Custom to create the report for a specific dates, a month or even a year.
Steps to create the report
- Go to reports
- Click on Trial Balance mentioned in finance report
- Click on date range choose from the dropdown menu
- Select cash or accrual in accounting field
- Click on generate Report to generate report
- Click on open to open as PDF.
- You can download by pressing on download icon
- You can edit the headers to your need
- See screenshot attached Trial Balance report with data