Debtor trial balance

Debtor trial balance

This will print a Report of balances showing amounts outstanding from a particular Debtor or all Debtors. This assists you in evaluating what Debtors are behind in their payments. The Debtors Trial Balance should be run in Summary either once a week or once a fortnight and the Grand total should agree to the General Ledger Debtor Control account for the same date. If this does not agree then reconciliation between the two accounts needs to be done to find the discrepancy. One reason may be due to miss-postings on a list/update. At the end of the month a Detailed Debtors Trial Balance should be run so you have a record of the Debtors entries, which also reflects what was on the Statements sent to the Debtors.

Click on Accounting | Debtor Ledger | Debtor Trial Balance.

• The date defaults to today’s date.
• Select Summary to get initial totals, Detailed if needing to see individual entries associated with each Debtor.

The Reconciliation option is run for a particular period in time to reconcile to the General Ledger Debtor Control account for the same period in time. This is commonly used at Year End / Period End when your Accountant may request a list of balances back at a given date.

The Out of Balance option is to see if any Debtor entries do not add up to the balance owing.

• Select either Account Code or Account Name
• Select the ageing cycle
• Ageing periods can be ALL balances or if you want Non Zero Balances put a cross in the Non Zero as in example above.
• Enter Account type as BOTH.
• Select Class is optional
• Select your Starting Debtor Account and Ending Debtor Account from drop down boxes. To run a Trial
• Balance for just one debtor put the same debtor name in starting and ending debtor account.
• The Travel Agency box need only be selected if running Multi agencies.
• Click on Start. The Print Preview option is to print the report to the screen.