Overview of Trial Balance In Marg ERP Software

Process To View Trial Balance In Marg ERP Software

Overview of Trial Balance In Marg ERP Software

• A Trial Balance is a list of all the nominal/general ledger accounts contained in the ledger of a business. This contains the name and value of the nominal ledger account. The value could show either a debit balance or a credit balance.
• The debit balance value is listed in the debit column of the trial balance, and the credit balance value is listed in the credit column.
• The Income statement, balance sheet and other financial reports can then be produced using the ledger accounts listed on the trial balance.
• The purpose of a trial balance is to prove that the value of all the debit balances equals the total of all the credit balances. Trialing, by listing every nominal ledger balance, ensures accurate reporting of the nominal ledgers for use in financial reporting of a business’s performance.
• If the total of the debit column does not equal the total value of the credit column, then this would show that there is an error in the nominal ledger accounts. This error must be found before a profit and loss statement, and a balance sheet can be produced.
• The trial balance is a part of the double entry book keeping system and uses the classic 'T' account format for presenting values.

Process To View Trial Balance In Marg ERP Software

• Go to Final Report > Trial Balance.

• The user can view Closing Balances of the Accounts, Groups, and Ledgers. Also, the user can view the Expenses, Revenues, Profit, Owner's Capital, etc. 

• The user will select any head to view details.
• Suppose select 'Current Liabilities'.

• The user can view current Liabilities in detail.

• The user will press 'F2' key to view the balance sheet of particular Month/Date.

• Mention the date range as per the requirement and press 'Enter' key.
• Suppose mention '01-04-2023' To '30-04-2023'.

• The user can view balance sheet details for April month.

• If the user needs to filter only those heads that have balances, then press 'F7' key.

• Now, the user can view those who have a balance will get displayed.

• The user will press 'Alt+P' key to generate the balance sheet in the required format.

• Click on 'View/Print/Excel/Word/PDF' as per the requirement.
• Suppose select 'View'.

After following the above steps, the user can view the trial balance in Marg ERP Software.