Generate and print the trial balance

Generate and print the trial balance

Introduction

A trial balance is a bookkeeping worksheet in which the balance of all ledgers is compiled into debit and credit account column totals that are equal. A company prepares a trial balance periodically, usually at the end of every reporting period. This report allows accountants to confirm that all entries that were posted in the general ledger for a given fiscal period are balanced. In simplest terms, the trial balance confirms that all debits equal all credits.

Print the trial balance

First up, you need to navigate to the GL module by clicking the more button from anywhere in Paragon and clicking GL


Once you are in the GL module and have selected an account, click the action button and you will see an option for trial balance.


Click this button to open a new modal where you can decide to report by month or by year and choose the template you wish to use. 






Note: Pending journal entries can be included or excluded from this report with the checkbox for that purpose - shown in the modal above. 

Once you have decided on your setup, simply click accept to view your trial balance report. 



How to edit the trial balance report

You might want to change the layout of the trial balance report. To do just that, go to the settings screen. Under the reports & data card, you will find the report template editor



You can edit the general layout of the default template or create a new one.


To create a new template, hit the add new button:


Give your template a name, select trial balance as the module, and hit the accept button. This will automatically add your template as a dropdown in the trial balance action button in the GL module (shown in an earlier step!). 



What's next?

Now that you know your way around a trial balance, take a look at some of our other financial reports and how to use them. 


    • Related Articles

    • Paragon Financials - Trial balance report

      The trial balance report allows accountants to confirm that all entries that were posted in the general ledger for a given fiscal period are balanced. In simplest terms, the trial balance confirms that all debits equal all credits. This article will ...
    • Generate and print the income statement

      Introduction An income statement shows the debits and credits for each expense and revenue account in your general ledger. These debits and credits are broken down by GL period.  The report also provides a total line called net income at the bottom ...
    • Generate and print the balance sheet

      Introduction A balance sheet is a statement of your business's financial position which states the assets, liabilities, and owner's equity at a given point in time. To put it simply, a balance sheet illustrates your business's net worth. The balance ...
    • Customer statements report

      Introduction Keeping your customers informed about how much they owe you is essential, and having one standardized document for these statements is common practice. From the print or email button on each customer, a customer statement will be ...
    • How to view and use the balance sheet report

      Here, we'll walk you through how to view and use the balance sheet report in Paragon. A balance sheet is a statement of your business' financial position which states the assets, liabilities and owners' equity at a given point in time. To put it ...