Also see: Financial Reporting Overview for more information on tabs and menu items at the bottom of the screen.
A Trial Balance is a listing of the accounts in your general ledger and their balances as of a specified date. A trial balance is usually prepared at the end of an accounting period and is used to see if additional adjustments are required to any of the balances. Since the basic accounting system relies on double-entry bookkeeping, a trial balance will have the same total debit amount as it has total credit amounts.
A Trial Balance can be printed by selecting the option from the Financial Reporting Menu.
The User Defined Trial Balance allows you to set up the Trial Balance tailored to your specific needs.
Trail Balance - General Tab |
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Report Selection Field |
Choose the report desired to run the balance sheet |
[Click to Edit] Report Definition |
This button will lead to the report definitions for the report chosen for viewing or editing. |
"Print Adjustments on Report, Jrnls" |
This field can be used to separate accountant journal entries. |
A Default Trial Balance can also be printed under Reports.
For Sub-Account and Printer tab options see Financial Reporting.
This tab allows you to run the desired report by a range of Sub-Accounts or selected Sub-Accounts either with or without a financial group.Check the box at the top of the screen if you want a statement for the entire company as well as the Sub-Accounts and/or group selected. To select specific Sub-Accounts to run the report for, click on, or multi-select the desired Sub-Accounts from the "List of All Items" on the left-hand side of the screen. Use the red arrows to move a single Sub-Account from the "List of All Items" to the "List of Selected Items" or vice versa. Use the blue arrows to move multiple Sub-Accounts from the "List of All Items" to the "List of Selected Items" or vice versa.
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The Financial Groups tab allows for the Trial Balance Report to be run by pre-defined financial groups instead of Sub-Accounts. Choose the desired financial group in the "Print Report(s) for Group#" field. The Group levels define whether the trend report will be created for all tiers of the financial group or only a part of the tiers. Next make a selection to have Pak Accounting check inactive dates on Sub-Accounts before printing. Choose to have everyone checked, Active only, inactive only, or closed this period. Finally, check the box "Limit which Sub-Account(s) to be included in Group,based on dollar comparison" if desired. If this selection is made, additional options will appear.
NOTE: If you want to compare wells that had lost money in one year, 2022 for example, with 2023 to see if they were now making money, you would enter 12/2022 in the"Last Month/Year to Compare" field. The date on the General tab would be 12/2023. The system will then compare the two years to decide what to print. Additionally, when selecting criteria for an amount (Sum is Greater Than, Sum is Less Than, Sum is not equal), the following must be remembered: Income has a credit balance. To see if the wells in the previous example made money, select "Sum is less than" and enter an amount in the amount field. Expenses have a debit balance. To view the expenses select 'Sum is Greater than" and enter an amount in the amount field. |
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The Printer tab allows for print options to be selected.
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