The functions available from the Trial Balance module are typically performed by accountants - reviewing the trial balance or entering it directly on screen for periods for which you are not entering transactions, entering journal adjustments, analyzing the activity on the balance sheet and income statement, reviewing activity from all the company's Journals, and closing each period and the year.
Use the screens available from this menu to analyze the trial balance, make adjusting entries, and close each period and the fiscal year.
From the Trial Balance menu, you can access the following functions:
Trial Balance: Displays an on-screen trial balance with multiple options for selecting the data to display, including selecting tickmarks and entering your own notes. In addition, from this screen, you can access the Trial Balance Entry screen to enter the trial balance for periods you are not entering transactions.
General Ledger: Review a summary of balances for all of your accounts, and review or edit transactions for any account and date range. In addition, you can drill down to individual debits or credits to review or edit details, and export the data to an Excel spreadsheet.
Journals: View all activity for a selected period and journal, and drill-down to edit individual transactions.
Sales Summary: Track your sales revenue for each category. You can view details from one period, YTD, or weekly if your client has period setup as 13 periods.
Tax Links: Export a Excel file with your trial balance data for use with your tax program.
Adjustments: Enables you to enter adjusting entries to the trial balance, and to the Cash/Accrual screen from which you can reverse receivables, payables, and any other needed accounts for cash-basis companies.
Close Period: Close a period and write recurring/reversing journal entries.
Close Year: Close the year, zero the income statement, and roll over beginning balances to next year's balance sheet accounts.
Budget: Enter budget data, and compare budgets to actuals.
Financial Ratio: Analyze a number of different ratios to determine the financial health of your company.