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Net monthly trial balance summary

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Posted on by 3,476

Hi:

For importing the summary monthly balances of G/L accounts from other ERP apps, is the correct term "net monthly trial balance summary"?

John

  • Suggested answer
    Dallefeld Profile Picture
    Dallefeld 11,415 UG Leader on at
    RE: Net monthly trial balance summary

    The hardest thing we do is terminology. Since a Trial Balance is the balance of each account for the month selected, your thought of Net Monthly Trail Balance makes sense but other ERPs will not have this. You want the beginning balance sheet accounts for the month ending before the year that you are coverting. Example; converting 2022, so beginning balance sheet is 12/31/21. Then you want the net change month by month for 2022. Many times I've seen clients take their Trial Balance for January, deduct the 12/31/21 balances to get the net change for January, etc. etc, for each month.

  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 59,978 Super User on at
    RE: Net monthly trial balance summary

    Hi, Net Change in BC is taken from General Ledger Entries. You can use Filter totals by to look up the value of a date.

    pastedimage1664413221033v1.png

    pastedimage1664413452179v2.png

    But if you just import data from a certain point in time, for example 2022.09.30.
    I don't think this is a "net monthly trial balance summary", it's only for September, you can't check the previous months.

    Hope this helps.

    Thanks.

    ZHU

  • Omar K Profile Picture
    Omar K 195 on at
    RE: Net monthly trial balance summary

    Hi,

    Do you mean the Monthly Netchange?

    Is the idea to import the balances as of a specific date, and then the monthly "Netchange" so at the end you will have the balance?

    If yes, I personaly use the following descriptions:

    "Balance as of xx/yy/zzzz" & " yy/zzzz Net Change"

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