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Accounts Receivable & Accounts Payable Trial Balance

Both the Accounts Receivable and Accounts Payable modules can produce trial balances.

A Debtors/Creditors Trial Balance is an aged summary of outstanding balances. Traditionally the ageing periods are current month, 30 days, 60 days and 90 days — although in practice 30/60/90 days correspond to 1, 2 and 3 calendar months. The Cadzow 2000 trial balances show six months' ageing starting with the “current” month and the five previous months. This increased granularity makes it easier to target balances which are egregiously overdue as opposed to merely overdue.

Features of the trial balances include:

  • Trial balances can be produced for any date in the past or future;

  • Trial balances can be produced for any individual department or all departments combined;

  • Trial balances can be filtered to organisations matching a profile;

  • Trial balances can be produced by organisation, departments, profiles, stock, analysis groups or employees; and

  • Some trial balances can be produced including tax or excluding tax.

Trial balances are produced as follows:

  1. Choose the Accounts Receivable tab (or Accounts Payable).

  2. Choose Accounts Receivable Trial Balance (or Accounts Payable Trial Balance).

  3. Choose the department and ageing date (default “today”) you wish to produce the trial balance for.

    Optionally, choose a Profile to limit organisations by and/or choose a particular organisation.

    Click Next Step.

  4. The default trial balance format (“organisations, including tax”) is shown.

    Enable Include Phone Numbers if required.

    To see the other trial balance options, click Show Advanced Options.

    Choose an alternate trial balance format if required.

    Shaded lines may be disabled if required.

    The sort order may be changed from “By Name” to “By Code” if required.

    For performance reasons, the trial balance by default uses allocations for receipts and credit notes as they exist in the system “now” rather than at the ageing date. In the normal course of events this is acceptable because (a) most trial balances are produced for “today” and not in the past or the future, and (b) most receipts and credit notes are issued after their corresponding invoices, so a trial balance produced for any given date will include both the receipt or credit note and the invoice. However, if a receipt or credit note is allocated against an invoice that is dated before the invoice (such as a deposit or a back-dated credit note), any trial balance produced for a date after the receipt or credit note but before the invoice will not show the negative value caused by the receipt/credit note, because the receipt is considered to be fully allocated “now”, even if it was not fully allocated at the ageing date. If this situation applies to you, enable CALCULATE ALLOCATIONS AT REPORT DATE INSTEAD OF "CURRENT" (SLOW), and the trial balance will fully calculate the allocations of pre-dated receipts and credit notes on a date-critical basis. Therefore this option may generate a more accurate trial balance, especially for ageing dates in the past, but the report will be considerably slower.

  5. Click Print/Preview Trial Balance.

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