Closing the books on an accounting period is a lengthy and complex process. No matter how complex, it needs to start somewhere. For every company, big or small, it starts with a trial balance. This is ...

A balance sheet is a type of financial statement that lists a company's assets, liabilities, and shareholders' equity. The assets should be in "balance" and equal the total liabilities and ...

Businesses use trial balance sheets to calculate the monthly debits and credits posted in their general ledgers. Debits are the money a business spends or loses, while credits are the money a business ...

Many financial systems do a fine job of generating standard reports, but accountants often need more. In those cases, accountants can create custom solutions in Excel, but that approach has drawbacks.

Balance sheets consist of assets, liabilities, and shareholders' equity, revealing financial health. Shareholders' equity equals assets minus liabilities and reflects theoretical investor value if a ...