Simplified Trial Balance
Simplified trial balance report performs the same function as a Trial balance report and has almost identical presentation format, except for debit and credit balances are not shown separately in different debit and credit columns but are listed as positive or negative amounts in one column.
Debit balances are presented as positive amounts, while credit balances as negative amounts.
As a result, the report lists opening and closing balances in each account used by your organization as of a certain date and displays debit and credit turnovers in those accounts during a given period of time.
In the basic Simplified trial balance report, all accounts are organized in accordance with the format of your chart of accounts. It is by account groups, account subcategories and major account categories the accounts belong to.
Following is an illustrative example of the structure of the Simplified balance report in accordance with the format of the chart of accounts:
Summarized balances and amounts are displayed at each level of the report and at the grand total level.
If no posting or mathematical errors have been made and the total debits equal the total credits, zero values will be displayed at the grand total level for each balance column. It is considered an indicator of a balanced trial balance.
If no data is available for certain levels, nothing is displayed for them. While moving to sublevels of the report, total amounts and balances are broken down into the amounts comprising the final total of the higher level.
To go to the Simplified Trial Balance report
1. On the Codejig ERP Main menu, click the Reports tab.
2. Under the Reports tab, click the Accountant folder, and then select Simplified Trial Balance report.
Simplified Trial Balance: Header Area
Simplified Trial Balance: Default Grouping
Simplified Trial Balance: Default Summarizing
Chart of Accounts Structure