Overview:

In Zumzum Financials, the Trial Balances provides real-time, data-driven financial reporting without the need for manual transfer of previous period balances. The system automatically calculates nominal account balances from the start date to the specified end date in the report. The Retained Earnings/Profit account balance is derived from all recorded revenue and expense transactions, plus any direct postings to the Retained Earnings/Profit nominal account, such as through manual journals. To generate the Trial Balance Report, navigate to the Financial Reports tab, select the Trial Balance option, and enter the End Month and End Year for the report period. Run the report to view the results online, or export it to Excel for further analysis.

How Are The Balance Calculated on The Zumzum Financials Trial Balance Report?

Zumzum Financials is a date-driven system, with real-time reporting so does not require any specific procedure to transfer the previous period balances to the current period.

The system automatically calculates all nominal account balances based on the transactions posted in the system from the very first day, to the End Month/End Year selected in the report page.

How is The Retained Earnings/Profit Calculated on The Zumzum Financials Trial Balance Report?

The value of the Retained Earnings/Profit account on the Trial Balance is calculated from all revenue and expense transactions in Zumzum Financials + any transactions posted directly to the Retained Earnings/Profit nominal account, e.g. via manual journals.

Generate The Trial Balance Report in Zumzum Financials

1. Navigate to Financial Reports tab in Zumzum Financials.
2. Select Trial Balance option on the Financial Reports Tab.
3. Enter the End Month, the report will include all transaction records to the last day of the month you select.
4. enter End Year, the report will use this value in order to generate the report based on a date.
5. Select Run Report, to run the report and display the results in the web interface.
6. Select Export to Excel, to download the report as a spreadsheet

Learn more about running financial reports in Zumzum Financials.