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Level 2

Monthly Trial Balance

Hi.  I have recently migrated to Quickbooks for a handful of companies I do the bookkeeping for due to this MTD VAT fiasco.

How do I get a monthly Trial Balance as the report only shows YTD Trial Balance, which is not helpful.

The old system of MYOB which I migrated from combined the Monthly and YTD in one report.

Thanks

28 REPLIES 28
QuickBooks Team

Re: Monthly Trial Balance

Hi RayloM

 

With QuickBooks online you are only able to run the trial balance for the financial year you have set.

 

The product is evolving constantly and to assist us meet your requirements, and hopefully get them implemented, we encourage you to leave feedback from within the product.

Level 3

Re: Monthly Trial Balance

Quickbooks desktop will allow you to do a trial balance it is located under reports - accountant & taxes. The date range can be changed to suit either entering the two dates or the custom button.
Level 2

Re: Monthly Trial Balance

Hi Paulg1969.  One would think that entering custom dates would give you the information specific to only that date range.  However, on QB desktop - they don't seem to realise that needed functionality.

I get the same result if I have (01/01/2019 to 30/06/2019) or (01/06/2019 to 30/06/2019).

It does not only give the changes specific to the date range - only the YTD as at your "to" date.

Level 3

Re: Monthly Trial Balance

I believe it is working as intended. If your year-end is 30th June then the trial balance for 01/01/19 - 30/06/19 would appear the same as 01/06/19 - 30/06/19 as the figures for sales, purchases, etc. would include a brought forward for the earlier months of the current year. It is the final date that is driving the report. If you just want to see the numbers for the profit & loss account for a month then that report would be better. If you run the report for 01/06/19 to 30/06/19 you can double click on an amount e.g. sales and it will show the b/fwd to date plus the figures for the month.
Level 2

Re: Monthly Trial Balance

If it is working as intended, why have a date from, since it does nothing? If the From date is years before, it still provides the same results. I would like to see data for specific periods. How do I achieve this?

Moderator

Re: Monthly Trial Balance

Hi there, @John666.

 

Let's ensure the trial balance report you pull up is not a memorized report. It's possible someone else created a custom, memorized report, and called it Trial Balance.

 

Here's how to locate the traditional trial balance report:

  1. Go to the Reports menu.
  2. Select Accountant & Taxes.
  3. Click Trial Balance.
  4. Change the date range of the report.

If you're using the Accrual reporting method, it will accumulate all balances even before the period you set on the report. You can change it to Cash,so the report shows income only if you have received it, and expenses only if you have paid them.

 

If you get the same result, run the verify and rebuild tool. Verifying the data identifies commonly known data issues within a company file while rebuilding data resolves data integrity issues.

 

Here's how: 

  1. Click on File at the top menu bar.
  2. Select on Utilities.
  3. Then Verify Data.
  4. If you see QuickBooks detected no problem with your data, select OK. You can continue using your company file.
  5. If Verify finds an issue with your data, you will be prompted to Rebuild Now.
  6. The Rebuild Data utility starts as soon as the backup is finished.
  7. Click OK when you get the message Rebuild has completed.

You can use the following link to edit the display, filters, and create reports in QuickBooks: Modify reports

 

Feel free to leave a comment below if you have any other questions. Have a great weekend. 

Level 2

Re: Monthly Trial Balance

Hi, and thanks for your reply, but it made no difference at all. The only item that changes the result is the ‘To’ date which is everything from the very first transaction up to that date.

Is there any of only viewing the relevant information?

 

I have tried Verifying and rebuilding my data files and I have also removed and re-installed Quickbooks. None of this made any difference.

QuickBooks Team

Re: Monthly Trial Balance

We appreciate you fro performing some troubleshooting steps to fix the problem, John666.

 

Let's try opening a sample company file to see if you're having a problem with one file only. You can also open the file from a different location to check if the problem might be coming from a damaged folder.

 

Then, try choosing This Month option in the Dates drop-down or manually enter the period in the From and To field.

 

If the same thing happens, I'd suggest contacting our Technical Support Team. They'll investigate what's causing this issue.

 

Here's how to reach them:

 

  1. Click Help on the top menu.
  2. Choose QuickBooks Desktop Help.
  3. Click Contact us.
  4. Choose Search for something else and enter your concern in the Tell us more about your question: field.
  5. Click Search.
  6. Click Start a Message to connect with us.

I have articles here about understanding and customizing reports:

Please loop me in if you need anything else with running reports in QuickBooks. I'm here to help.

Level 2

Re: Monthly Trial Balance

Hi, thanks for your suggestions but again, nothing changed.

I tried copying some of my own files to a different Drive and Directory and I looked at the 3 sample files provided.

All act in the exact same way in that the 'From' date has absolutely no bearing on anything so the data is taken from the first transaction up to the 'To' date. Maybe I am using the 'Trial Balance' in the wrong way, but I can't see how else to get the information I want.

 

As far as contacting Quickbooks Support is concerned, there is now a huge language and cultural problem when dealing with them in my experience.

Level 2

Re: Monthly Trial Balance

Looks like my comment from this morning has been “moderated” out. Quickbooks probably don’t like us mentioning going back to our other software because their essential Trial Balance report is useless.

Level 2

Re: Monthly Trial Balance

I just tried following your instructions for contacting your Technical Support Team, but I ran into a problem...

  1. Click Help on the top menu.
  2. Choose QuickBooks Desktop Help.
  3. Click Contact us.

I am unable to find the 'Contact Us' option you refer to. The closest I found was 'Check the Support Site for more answers' link at the very bottom of each page.

Having clicked on that and typing in a search on Trial Balances it brought me back to this page.

QuickBooks Team

Re: Monthly Trial Balance

We appreciate you for performing the steps I've provided to connect with us, John666.

 

Aside from going to the QuickBooks Desktop Help tab, you can contact our technical support by going to the Ask Intuit tab.

 

Here's how:

 

  1. Click Help on the top menu.
  2. Choose Ask Intuit.
  3. Scroll down on the page below, then hit Contact us in the Need to get in touch section.
  4. Choose QuickBooks Desktop if the Which QuickBooks do you need help with? page appears.
  5. If the Stop! Open QuickBooks to contact us message prompts, hit Continue as a guest.
  6. Then, select your QuickBooks Desktop version.
  7. Choose Search for something else and enter your concern in the Tell us more about your question: field.
  8. Click Search.
  9. Click Start a Message to connect with us.

Ask Intuit 1.PNG Ask Intuit 2.PNG Ask Intuit 3.PNG Ask Intuit 4.PNG

 

If you can't see the Ask Intuit tab, you can go to this support link: https://help.quickbooks.intuit.com/en_US/contact. Then, follow Step 7 to Step 9 to connect with us.

 

This will take you in the right direction today. Feel free to come back to this thread if you need anything else in QuickBooks Desktop.

Level 2

Re: Monthly Trial Balance

Hi, I don't know which version of Quickbooks you are using, but I am using 2017 Desktop, and none of these options you keep giving me are available.

Level 2

Re: Monthly Trial Balance

Hi RayloM,

Could you try posting your comments again, please? I would be very interested to read your views on this problem.

Level 2

Re: Monthly Trial Balance

Hi John,

I also have had this issue where the Trial Balance only gives YTD figures and completely ignores your "From" date.

I have had to export to a spreadsheet and use formulae to work out my monthly Trial Balance figures.

I have experienced this from QB2016 and now have the latest QB2020, which I upgraded to because of the MTD VAT.

I have since found free bridging software for the MTD VAT and am gradually migrating back to my old MYOB software, which allows for a Trial Balance of a single day to be done.

QuickBooks Team

Re: Monthly Trial Balance

Hello there, John666.

 

I already updated my answer and provided you the direct link to contact our Customer Support Team.

 

Just reply to this thread if you have further questions in QuickBooks.

Level 2

Re: Monthly Trial Balance

Thanks for the information. I too am having to resort to excel in order to get the information that QuickBooks fails to provide. There also doesn't appear to be any inclination from them to listen and put it right, like so many other things.

I also don't understand why the UK has been forced into the Quickbooks monthly subscription system, but you can still buy it outright in other locations.

Level 2

Re: Monthly Trial Balance

Thanks for the update. I tried opening the link and I got a page telling me to go through the F1 help screen. When I took the alternative route and typed in a question I was asked to connect to the support team. After a few basic questions like my name etc. I was then asked for my question, and that's where it stopped!

Apparently the support system does not support Chrome as I had nothing but blank windows, and they do not answer Internet Explorer.

Level 2

Re: Monthly Trial Balance

Hi RCV, a quick update.

I finally got connected to the help team.

It took 11 minutes before someone connected with me, but did not communicate.

After a further 15 minutes I gave up.

Moderator

Re: Monthly Trial Balance

Your effort in contacting our phone support is much appreciated, John666.

 

In the Trial Balance report, changing the reporting period to a monthly basis won't change the amount. As a workaround, you can consider running and customizing a monthly Profit and Loss and Balance Sheet report and exporting them to Excel. This way, you'll be able to get the information needed.

You can check this article on how to customize your reports for reference.

 

If you have any additional questions, you can always go back to this thread.

Level 2

Re: Monthly Trial Balance

Hi GlinetteC

QuickBooks Team

Re: Monthly Trial Balance

I ran through the thread and yes you’re correct, John666.

 

The Trial Balance report will always get the data from the first transaction you entered up to the To date you set. The date range will take effect on the transaction list report when you drill-down to each account.

 

We can use the Transaction List from the trial balance or pull up the Transaction Detail by Account report. Let's make sure that we filter it to Cash basis to only calculate posting transactions. Then, collate and modify them in Excel. 

 

Here's how to run the Custom Transaction Detail:

  1. Click Reports.
  2. Choose Custom and select Transaction Detail
  3. Click Cash under Report Basis.
  4. Sort by Account
  5. Export the report as spreadsheet to Excel. 

I personally notified our engineers with regards to this feedback and they might consider it for future updates. 

 

Always know that the Community is right here if need anything else. 

Highlighted
Level 2

Re: Monthly Trial Balance

Hi Catherine_B,

Thanks for your response, but this still leaves me having to go to Excel to process the information which should be available with just a couple of clicks in Quickbooks.

I understand why it does what it does, but it should also show the information for any given period, otherwise why have the From date. I am sure that it used to work properly, so this is a feature which has been disabled. Why?

Let's hope the QB engineers fix it so that it works the way it should.

Level 1

Re: Monthly Trial Balance

I concur with user John666.  We have the same issue.  Companies traditionally format their financial statements in excel and then rely on a monthly data dump from the ERP system.  This report needs to be FIXED to recognize the from date.  This is a bug.  You can't claim that the report is running as intended when the from date is ignored.  Monthly activity financials are necessary for all businesses.  The user's ability to design an excel based system of presenting them is also necessary.