It is a statement showing the names of the accounts appearing on the general ledger, the balance of each account, and whether it is debit or credit. The main purpose of the trial balance is to ensure that the operations have been carried out correctly. It also helps to discover errors in the recording processes that must be balanced and equal. It also gives the user a summary of the balances of all accounts at a particular moment.
You can view the trial balance through “Reports” > “Trial Balance”.
You can specify certain accounts and values from the trial balance through the “Filter” option which will show you the trial balance report according to the item you want to show. For example, selecting the trial balance of customers/vendors will show you all the affected accounts by the accounts of your customers/vendors. In addition, you can filter by custom fields, projects, or products.
You can, also, select one account to appear in the trial balance by selecting the account from the drop-down list and you can “Show Customer, Vendor, Employee Breakdown” by sliding the button next to it.
- Inspect feature:
Using the inspect feature, you can see the details of the amounts shown in the report. This includes the amounts for each customer, as well as for suppliers, locations, products, projects, employees, and finally documents.