A trial balance is a report that lists the balances of all general ledger accounts of a company at a certain point in time. The accounts reflected on a trial balance are related to all major accounting items, including assets, liabilities, equity, revenues, expenses, gains, and losses. It is primarily used to identify the balance of debits and credits entries from the transactions recorded in the general ledger at a certain point in time.we have included a virtual account:
(i)Revenue reserve which is the total accumulated profits and loss before the period of the trial balance for instance if you selected the end date as 31-12-2021, the total revenue reserve will accumulate up to 31-12-2020.
Below are steps on how to generate a trial balance.
Login to the system
Navigate to the accounting tab,under financial reports,click on the ledger &accounts reports and select trial balance.
Select the end date of the financial year and choose the desired output format then load the report.
Attached below is a trial balance sample.