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2018-04-05 20:52:52QuickBooks BlogsEnglishChoose important information based on transactions for a specified time period with QuickBooks’ new working trial balance feature. Get...’ new working trial balance report for accountants

QuickBooks’ new working trial balance report for accountants

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Accountants sent us a lot of requests for a working trial balance report. The earlier trial balance was limited to a view of the closing balance.

What Is a Working Trial Balance?

A working trial balance is a report that contains a timeline of accounting activity, such as opening balances, transactions and transfers. The working trial balance keeps track of all the monetary bookkeeping for a specific time period. This is also a way to monitor credit and debit activity, keeping a regular check on your balance.

The working trial balance lets you pull out records of expenses and the balances for certain reports during certain time periods, such as close of the financial year, monthly or quarterly. It helps you monitor the budget, track how transactions are being made and ensure compliance with tax laws.

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About the Latest Feature on QuickBooks

The first version of this report is accessible in the February update. The report displays the opening balance and details of transactions posted during the review period. In addition, we’ll be adding a standard filter for the time period.

Now you can expect a clear, concise presentation of the opening balance, closing balance and transactions posted during the specified time period. Here’s how to access the report:

  • Log into your QuickBooks account, and go to the Reports section.
  • Enter “Working Trial Balance” in the search box.

We hope you find this feature useful, as we’ve based it on direct feedback from our customers. If you have any questions related to this feature, please log on to the QuickBooks Community; ask your question, and a QuickBooks expert will answer it soon.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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