To access the Trial balance window, open the Statements tab and click the Trial balance button. AuditDesktop supports two trial balance representation formats:
- Trial balance with one column
- Trial balance with six columns
Trial balance with one column
The statement is represented only as a Closing balance (CB). In comparison to the trial balance with six columns, the trial balance with one column can be regarded as CB Dr - CB Cr.
When you select to work with a one-column trial balance, the following columns will be visualised:
- Code - the specific code of the account
- Name - the name of the account
- Previous - the trial balance for the previous audit period
- Initial - the trial balance for the audit period that is loaded at the beginning of the audit engagement. The Statement of financial position and Income statement are generated from the Initial trial balance.
- Misstatements - all found and posted misstatements
- Adjusted - the calculated trial balance, received from the Initial trial balance combined with all posted misstatements
- RJE - entries that are moved from one account to another
- Final - the calculated trial balance, received from the Adjusted trial balance combined with all posted reclassifications
- Control - provided by the client at the end of the audit engagement. Its purpose is to check whether all posted misstatements have been registered in the client's accounting system. The Control trial balance is compared with the Adjusted trial balance.
To add notes to a selected account, open the Notes tab and click thebutton. Enter the text in the window that opens and click Save.
The Posted adjustments section displays all posted adjustments (if any) made to the selected account. The Note field shows all notes added to the respective adjustment. You can right click an adjustment in order to open and navigate through its context menu.
Trial balance with six columns
The statement is represented as Opening balance, Turnover and Closing balance, each having columns for Debit and Credit.
In the six-column trial balance representation format, each trial balance type forms a separate tab. The trial balance types are identical to those of the one-column trial balance, with these two additional types:
- Check previous - automatically generated by the program. It exists due to differences between the Previous trial balance, Adjusted trial balance and Control trial balance
- Check adjusted - automatically generated by the program. It compares the differences between the Adjusted trial balance and Control trial balance
In Initial trial balance, you can add Notes to a selected account. Click thebutton, enter the text in the window that opens and click Save.
All adjustments that are made to the accounts are displayed in the Posted adjustments section of the Adjusted trial balance.
Loading trial balance
You can load three Trial balance types: Previous, Initial, and Control. In order to do so, choose one of the following ways:
- Import - add/replace the data of the selected trial balance, with the option to update the accounts from the chart of the accounts
- Edit - edit the trial balance sums, without the option to correct the chart of accounts
The other buttons that are available in Trial balance toolbar allow you to perform the following actions:
- Chart of accounts - open a window for editing the chart of accounts
- templates Print - preview and print data on
- Groups TB - start trial balance groups used for consolidation or analysis of the company's activity during the year
- Refresh - reload and refresh data