Trial Balance Data

Trial Balance Data

To generate a tax basis balance sheet and income statement, trial balance accounts must be established and populated.

•	Determine how accounts should be represented in trial balance lines and sublines by mapping them in the Manage Trial Balance section.

•	Account balances can be entered after trial balance mapping is defined.

•	Balances can be bridged from an extract file from a general ledger, as long as bridge mappings have been defined in the Manage Bridge section.

•	If the bridge is not being used, account balances can be manually entered or populated with the Import Numbers template in the Trial Balance/Tax Basis screen in the Provision dataset.

•	Once book trial balances are populated, Book Adjustments, Tax Re-class, and Other Adjustments can be made as needed.

•	Typically, trial balance accounts are populated on a pre-closed basis. By having book adjustments close out Income Statement items in Retained Earnings, assets equal liabilities plus equity on reports.