#Excel for free trial trial
This principle will apply to both income statement & balance sheet accounts if the trial balance is compiled for a period consisting of less than 12 months.
#Excel for free trial full
If you do not use the template for a full 12 month period, the opening balances at the end of the period before the first period for which a trial balance needs to be compiled should still be included in column D on the TBInput sheet. Note: We do not recommend including any empty rows between rows that contain data on the TBInput sheet otherwise the trial balance on the TB sheet will also include the empty rows. Opening balance sheet balances should again be included on a cumulative basis. Opening balances should however be included on a cumulative basis for all balance sheet accounts.Įxample: If your trial balance data consist of only cumulative balances and you intend to use the template to compile a monthly trial balance, you can simply specify a cumulative basis for all accounts in column C of the TBInput sheet. Note: Although the basis for income statement accounts that originate from a cash flow forecast or budget is usually monthly and the basis for balance sheet accounts is usually cumulative, you can specify any basis for any account in column C on the TBInput sheet.Įxample: If your trial balance data consist of only monthly account balances (or movements), you can specify a monthly basis for all the accounts that are included on the TBInput sheet. Month 1 to 12 - enter or copy the monthly or cumulative balances at the end of each month during a 12 month period into these columns. The opening balances in this column represent the cumulative balance as at the end of the period which precedes the month 1 period. Opening balances for trial balance purposes are usually only applicable to balance sheet accounts because the template covers a 12 month financial period and income statement balances are not carried over to subsequent financial years. Opening - enter or copy the appropriate opening balance of the account into this column. If the balances that are specified for the account are cumulative balances, select the cumulative option. If the balances that are specified for the account are monthly balances (monthly account movements), the monthly option should be selected. Account numbers can be in any format as long as each account number is unique.Īccount Description - enter or copy the description of the accounts into this column.īasis - select either the monthly or cumulative basis option from the list box in this column. The sheet contains the following user input columns:Īcc No - enter or copy all the account numbers that need to form part of the trial balance into this column. Simply select the appropriate monthly or cumulative basis at the top of the sheet and all the account balances are calculated automatically.Īll the accounts and balances that need to be incorporated into the trial balance need to be entered or copied onto the TBInput sheet. TB - the calculations on this sheet are automated and based on the contents of the TBInput sheet.
A monthly or cumulative basis for the appropriate account balances can be specified and the sheet makes provision for opening balances and 12 monthly periods. TBInput - enter or copy all the accounts that need to be included in the trial balance onto this sheet. The following sheets are included in the template: In addition, the template also makes it easy to convert a cumulative trial balance into a trial balance which reflects monthly movements and to switch between cumulative and monthly trial balance calculations. The template is especially useful when a user is required to consolidate cash flow forecast or budget data which usually consists of monthly balances for income statement accounts and cumulative balances for balance sheet accounts into a format which is consistent with the cumulative basis of trial balances as used in most accounting systems. This template enables users to compile a cumulative trial balance based on monthly account movements or to compile a monthly trial balance based on cumulative account movements.