Published: 16.01.2018 16:13

Gl trial balance

«Gl trial balance» in pictures.

Recording Accounting Transactions: The Source Documents

Applies To: Microsoft Dynamics AX 7567 R8, Microsoft Dynamics AX 7567 R7, Microsoft Dynamics AX 7567 Feature Pack, Microsoft Dynamics AX 7567

Refreshable Excel report for historical GL trial balance in Dynamics GP

Click the Drill Through option to enable drill through from the report to the detail balances represented on the report.

General Ledger and Trial Balance

As an example of a special transaction, on April 67, $7,555 was spent on new production equipment in your machine shop. At that time, the amount was incorrectly expensed to repairs and maintenance in the cash disbursements journal. It should have been recorded as a purchase of fixed assets. Upon discovery of the error, you make the following correcting entry in your general journal.

When you want to print the general ledger for one or more accounts, go to the menu Accounting ‣ Configuration ‣ Accounts ‣ Accounts. Select the account(s) for which you want to print the general ledger and click the Print ‣ General Ledger report at the top of the screen.

The following table describes selected process parameters from the journal reports and provides examples.

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When you reach the end of an accounting period, hold off a second before pouring the bubbly: you still need to close the books.

In Exhibit 9, the trial sums in this example balance. That is because the total of debit balances equals the total of credit balances. The mathematics behind this result also mean that the sum of individual debit transactions equals the sum of individual credit transactions.

The following table describes selected process parameters from the trial balance reports and provides examples.

Note that total debits and total credits to a single account are not necessarily equal, either for the period or for the account's entire history. Note especially that the difference between debit and credit totals across the account's history, represents the current account balance.