Account Balance

Account Balance is the short list: every ledger account and its closing balance on one date, with filters for Root Type (Asset, Liability, Income, Expense, Equity) and Account Type (Bank, Cash, Receivable, Payable, Tax). It skips the movement columns of the Trial Balance, so an owner can check in seconds how much sits in the bank and how much VAT is owed. BRAccount sums GL Entry debits minus credits for each account up to the Report Date. Use it when someone asks for a figure on the phone; use the Trial Balance when you need to prove the books balance. A balance with the wrong sign, such as a debit on VAT Payable, points to a posting mistake.

Balance on the date = Sum of debits - Sum of credits of GL Entry rows on the account up to the Report Date

1. 01Go to Financial Reports > Account Balance.
2. 02Set Company and Report Date; set Root Type or Account Type to narrow the list.
3. 03Read the balance column: cash and bank Rs 25,68,160 debit, Share Capital Rs 25,00,000 credit.
4. 04Filter Account Type Tax to see VAT Payable at Rs 4,160 credit, the amount still owed to IRD.
5. 05Click an account to drill into the General Ledger if a balance looks wrong.
6. 06Open the Trial Balance for the same date when you need opening balances and movements too.

Open for a quick list of balances without the full trial balance layout.

VAT Payable Rs 4,160 credit, Share Capital Rs 25,00,000 credit, cash and bank Rs 25,68,160 debit.