Trial balance


The report lists the Account Cards monetary balances in NIS.

Trial balance vs. Transactions balance: In the balance sheet, the balance is shown as a single amount (Debit or Credit). If you would like to issue a report that lists the total credit transactions and total debit transactions for each Account Card, issue a Transactions Balance report.

Include IFRS Transactions: IFRS are new International Financial Reporting Standards that require adding to the Loss and Profit Statement any profits or losses from revaluation of investment assets. For those companies where IFRS applies, WizCount includes provisions for books management the incorporates all types of transactions, including those required for IFRS, and, in addition, books management including only the “regular” transactions (excluding IFRS related transactions). IFRS transactions are recorded in a special batch, so you can issue reports that include this batch as well as reports that exclude it.

Including Year-End Transactions Until (date): This Filtering is only relevant if your transactions filtering is limited by dates, and only if you issue a Trial Balance that includes Income and Expenses Cards.

WizCount is a multiannual software. The new year’s transactions are added to the transactions of the previous years. Once the recording of the previous year’s data is completed, the Year-end Transactions program may be activated. This program closes the resultant cards (income and expenses) balances against a Surplus Card. Meaning, Profit or Loss is transferred into a Surplus card, and the Income and Expenses Cards are restarted from a zero balance. When issuing reports, you can determine how Year-End Transactions should be considered. For example: Income was closed for 2015, but you want to see the Loss and Profit Statement for that year. In this case, Year-end transactions should be ignored for the end of 2015 (if we these transactions are not ignored, the Income and Expense Card balances will be zero).

In the current section WizCount will display all the dates for which Year-End Transactions were recorded. In the example above, the selection should be Include Year-End Transactions until – 31.12.14

Summary by sorting codes: This section may be used to issue a report that does not include Card Balances, but rather only shows summaries by Sort Codes. To issue a “regular” Trial Balance including balances of all Account Cards (in the above Filtering), select No. To issue a report that only includes Sort Codes Balances, select Yes. See more information about the Sort Code field above.

Customer Vendor List: If you select Yes, the report will include all the cards (According to the Filtering), including all customer and vendor cards. To issue a report of all the Cards, excluding customers and vendors, (income, expenses, creditors and debtors, etc.), select No. Customers and vendors will be featured in a single report record. The classification of cards to Customer Cards and Vendor Cards is determined in the Account Card Main Account field.

To issue a balance sheet report in a different format, the report must be prepared using the Report Designer.