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Report Designer

Verify balances

You can verify balances to ensure your financial statement is correct and balanced. This process helps catch errors and gives you confidence in your financial reporting.
Follow these steps to check if your financial statement is balanced in Accounting CS.
  1. Open your financial statement:
  2. Select
    File
    , then
    Report Designer
    .
  3. Select the
    +
     next to the document type folder.
  4. Double-click your financial statement.
  5. Save a backup (recommended):
  6. Select
    File
    , then
    Save As
    .
  7. Give your statement a new name.
  8. Check your Balance Sheet:
  9. Manually calculate subtotals and totals.
  10. Make sure the formulas in subtotal rows point to the correct detail rows.
  11. Check that the final balance is correct (contra accounts, like Accumulated Depreciation, usually show as credits).
  12. Ensure all accounts are included.
  13. Review account settings:
  14. Select
    Actions
    , then
    Enter Trial Balance Screen
    .
  15. Make sure all accounts have Account Grouping Codes and Subcodes.
  16. Add Tax Code and Unit columns to get the full Chart of Accounts.
  17. Check account classifications:
  18. In the Report Designer, verify the Properties section of the Design Tools.
  19. Make sure Account Classification Subcodes are referenced where needed.
  20. Use the Financial Statement Worksheet:
  21. Select
    File
    ,
    Print
    , then
    Options
     to print the report for the current year.
  22. Review the Totals row in the Balance Sheet columns.
  23. If the totals match:
    1. Check off each item on the worksheet.
    2. Compare to your balance sheet.
    3. Look for any missing accounts.
  24. If the totals don't match:
    1. Review your data entry.
    2. Check for incorrectly coded transactions in the
      Enter Transactions
       screen.
To restore the original report, select
File
, then
Restore Default
.

This article applies to:

  • Product: Accounting CS,Workpapers CS
  • Subject: Reports