Trial Balance

Mike or Penny Novack stepbystepfarm at mtdata.com
Wed Jun 11 07:56:55 EDT 2014


>
> Yes, I have a ZERO imbalance, so it is fine, despite my ignorance.
> My accountant wants to see the "Trial Balance" to verify the books are
> balanced......
>
> Thanks for the education on what a TB is and why and how it is useful.
>
> James

Ah, unfamiliarity with this particular application or possibly any of 
them because as far as I know all the computerized bookkeeping programs 
ensure that the books are in balance. Well in that case you'll have to 
learn how to produce a "Trial Balance" for him (or her). Like I said 
earlier, in the old days this was very important because easy for an 
initial data entry error or a transcription error to put the books out 
of balance. With gnucash (or QuickBooks or PeachTree or ......) it 
simply can't happen and if you failed to supply an account name or 
otherwise left   an amount dangling would be in "Orphan" or "Imbalance".

Michael



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