Accountant Reports

There are four reports available for accountants:

  • Trial Balance
  • Opening Balances and VAT Adjustments Report
  • Journal Entries
  • VAT Returns and Reports

You access these reports via the Accountant’s Area menu option.

Trial Balance

The trial balance is a list of all your accounts, including system accounts, for a selected date range. It is presented in a traditional accounting format and is used to ensure that your debit and credit transactions balance.

Select your reporting period. Your options are:

Monthly Select this option if you want to run the trial balance for a selected month.
Yearly Select this option if you want the trial balance to include only a year’s transactions.
Life to Date Select this option if you want the trial balance to include all transactions from the start of the business.
This Year Select this option if you want the trial balance to include only the current financial year’s transactions.
Last Year Select this option if you want the trial balance to include only the previous financial year’s transactions.

Your viewing options are:

Options Explanation Calculation
Closing Balances Select this option if you want the trial balance to display account closing balances, including transactions from the beginning of the year up to the end of the selected month. Closing Balances = Opening Balances + any debit and credit transactions (per account) from the beginning of the year up to the selected month
Movements Select this option if you want the trial balance to only display accounts which had transactional activity for the selected date range. This will not include the opening balances of the accounts. Movements = Debit and Credit Transactions (per account)

Take note of the following:

  • The trial balance consolidates the value of opening balances and VAT adjustments into the Opening Balances and VAT Adjustments account.
  • This account serves as the contra account for the individual transactions in the system. Drill down to view the transactions making up this account.
  • The trial balance uses the Cost of Sales based on Purchases calculation.
  • The trial balance consolidates the item opening balances, not the current value of your items, into the Item Opening Balance account. We recommend that you seek the advice of a financial professional to process the Item movement journal entries required to correctly display Items and Cost of Sales.

Opening Balances and VAT Adjustments

This report shows the transactions that make up the Opening Balances and VAT Adjustments system contra account displayed on the Trial Balance.

Journal Entries Report

This report displays all journals captured as well as audit information on the drill down.