Can anyone help create a standard 6-column trial balance (Beginning Balance, Monthly Entries, and Ending Balance) from custom reports?
Why not use the built in report?
Yes, I use the report provided by the system, however, it only provides the movements of the month, but I need to know the final balance of the previous month and the new final balance of the accounting accounts.
You can use General Ledger Summary report
Yes, the General Ledger Summary is the closest I need, but it doesn’t carry over the beginning and ending balances of the income statement accounts.
It only does this with the Balance Sheet accounts
That’s normal
That’s how accounting works
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The reason for my question is that I want to use a report to manually fill out the General and Journal accounting books later, without having to take another step by adding balances externally and outside the report.
Profit & Loss Statement accounts are temporary accounts according to Accounting Standards. They are merely the breakdown of changes in “Retained Earnings” in a given period.
Retained Earnings in this sense is the parent account for the P&L and it will house the combined starting and closing balance of your P&L accounts together with other transactions to be listed on the “Statement of Changes in Equity”.
Yes, I understand that part perfectly, however, that’s why I made the consultation, if through personalized reports it is possible to obtain the data in the way I require it, and if someone could give me a guide to get it.
I also appreciate the comments.
Why do you want to reenter the values ?
Okay, let me explain.
According to my country’s commercial law, companies are required by law to keep journal and general ledger books completed by hand. The basis for completing these books is the trial balance, as this report presents the beginning balance, monthly transactions, and ending balance of all accounting accounts (each item with its debit and credit, respectively, resulting in six columns).
While it’s true that the General Ledger Summary provides this information in the balance sheet accounts, as this report provides the cumulative beginning balance for the previous month, the monthly transactions, and the cumulative ending balance for each account, I also need it in the income statement accounts so I can manually transcribe them into those books.
Unfortunately, there is no Custom Report or Advanced Query that will result in a report with the exact output you are looking for.
If I was to generate such report, I would draw two reports:
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General Ledger Summary report → let’s call this report (1)
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Profit and Loss report starting from whatever date required untill the end of the period right before report (1)
I would then stitch these reports together using formulas in a spreadsheet.
Thank you very much for the support, I will do it just as you recommend.
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Have you tried adding comparative columns in TB report i.e
opening bal column = set the date range of which period you want in opening bal column
Tansactions = set the date range of current transactions period
Closing bal column = set the date range from opening till the transactions end date.
I hope it will get you what you wanted
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You’re right, it worked for me.
Thank you so much, I got the answer I needed.
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Thanks, that’s very useful indeed.
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