How to Generate a Trial Balance Report in Gridlex Sky?

Published | Aug. 22, 2023, 12:35 p.m.

A trial balance is a statement that lists the ending balances in all the ledger accounts of a business as of a specific date and time. The purpose of a trial balance is to verify the equality of the debit and credit for the ledger accounts. With the help of Gridlex Sky, users can ensure that all entries made into an organization's general ledger are properly balanced. With Gridlex Sky, users can be ascertained that there is no room for arithmetical errors as the software will help to locate errors (calculation errors, error in totalling trial balance, etc).

If you need any help with any feature, data migration of your old accounting data, questions on Chart of Accounts (COA) or anything at all, just email, and our team of expert accountants will be here to help you. Remember, that one of Gridlex’s core values is Customer Success. We want you to be successful.

Generate a Trial Balance Report in Gridlex Sky

Step 1: Login into your Gridlex App Suite Account and choose the entity of your choice. Go to the “Reports” tab and select the “By Entity” tab in the Trial Balance module. 

Step 2: Here, users can ensure that the debits and credits in their financial records are in balance or not. Select the date range for which you want to prepare the trial balance. For example, you can set the time period for the previous month, or previous year or customize your dates as per your business needs. 

Step 3: Select the Account Type head i.e., Asset, Expense, Revenue or Liability. Users can view all account types at once by selecting “All”. Once done, click on “Go” to review the balances. 

Note: Users can download the Trial Balance in Excel and PDF format by clicking on the “Download” button. 

Step 4: If you need to make any adjustments, you can do so by clicking on the relevant account and revising the required changes. Once you have verified that the balances are correct, you can save the data by clicking the "Save" button.

Step 5: Here, you viewed Trial Balance Entity-wise. Gridlex Sky allows you to view Trial balance by customer, by vendor, by item, by tax-item, by center, by division and by label. 

Quick Tip

Gridlex Sky offers a list of shortcuts for common tasks. With the help of these quick shortcuts, users can easily navigate to the Trial Balance page without having to scroll through other sections. Click on “Review your Trial Balance” under the Reports section to view and generate your trial balance in one single click.