Trial Balance Report - Sanity Check

Accounting
1

I’m not afraid to ask a daft question so here goes:

Just doing a sanity check on my data entry process, before talking to the accountant.

I’ve entered all the data into Qf and produced the first set of reports.

If i deduct the Opening balance from the Yearly Transactions I get the Closing Balance, & if I deduct the Closing Balance from the Yearly Transactions I get the Opening Balance. Finally if I add the Opening & Closing Balances together they equal the Yearly transaction number.

Obviously, I could have mis entered or transposed numbers, but as a overview does it seem that all is ok with the process so far?

Txs in advance

2

Hi @dmarti32,

That sounds about right to me :slight_smile: (Please bear in mind I am not an accountant)

3

Txs Beth, Hopefully one of the accountants will be along later to confirm.

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