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Reports
Choose a trial balance, balance sheet or profit and loss report from the question you need answered.
A report does not change the books but organises posted amounts. Start with the question: do you want to review accounts, see the financial position on a date, or assess revenue and expenses over a period?
Step by step
- 1Use the Trial balance to review debits, credits and balances for all used accounts.
- 2Use the Balance sheet for assets, liabilities and equity on one reporting date.
- 3Use Profit and loss for revenue, expenses and result between a start and end date.
- 4Check the administration, fiscal year, period or reporting date before drawing conclusions.
- 5Open unusual figures through the ledger and review their underlying postings and dates.
What is on the screen?
- Administration
- Fiscal year and period
- Reporting date
- Account details
What happens next?
The reports reconcile to the same final posting lines. Differences between reports usually follow from their time meaning: a balance sheet is a position on a date; profit and loss is a flow over a period.
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General ledger and ledger card
Trace each account’s opening balance, movements and closing balance back to their postings.
Read guidance →Trial balance
Review totals and balances per account and trace discrepancies to the ledger card.
Read guidance →Profit and loss statement
Assess revenue, expenses and result over a selected period.
Read guidance →