Trial Balance Monthly Trend Report

What is a Trial Balance Monthly Trend Report ? Trial Balance Monthly Trend Reports are considered control reports and are often used by accountants to ensure that their General Ledger is in balance. Key functionality in this type of report dynamically displays the current year's opening balance, as well as, every single month up to the current period. This provides the accountant with a single view of all account balances in the current year. You will find an example of this type of report below. Purpose of Trial Balance Monthly Trend Reports Companies and organizations use Trial Balance Monthly Trend Reports to easily detect issues with account balances that may have started in prior months. When used as part of good business practices in a Finance & Accounting Department, a company can improve its financial accuracy and control, as well as, reduce the chance that financial statements are wrong over multiple months because of an issue that may have started in a previous period. Trial Balance Monthly Trend Report Example Here is an example of Trial Balance Monthly Trend Report with current and past periods listed across the columns. [caption id="" align="alignnone" width="2560"] Trial Balance Monthly Trend Report Example Trial Balance Monthly Trend Report Example[/caption] You can find hundreds of additional examples here. Who Uses This Type of Report ? The typical users of this type of report are: Accountants. Other Report s Often Used in Conjunction with Trial Balance Monthly Trend Reports Progressive Finance & Accounting Departments sometimes use several different Trial Balance Monthly Trend Reports, along with financial statements and other management and control tools. Where Does the Data for Analysis Originate From? The Actual (historical transactions) data typically comes from enterprise resource planning (ERP) systems like: Microsoft Dynamics 365 (D365) Finance, Microsoft Dynamics 365 Business Central (D365 BC), Microsoft Dynamics AX, Microsoft Dynamics NAV, Microsoft Dynamics GP, Microsoft Dynamics SL, Sage Intacct, Sage 100, Sage 300, Sage 500, Sage X3, SAP Business One, SAP ByDesign, Acumatica, Netsuite and others. In analyses where budgets or forecasts are used, the planning data most often originates from in-house Excel spreadsheet models or from professional corporate performance management (CPM/EPM) solutions. What Tools are Typically used for Reporting, Planning and Dashboards? Examples of business software used with the data and ERPs mentioned above are:
  • Native ERP report writers and query tools
  • Spreadsheets (for example Microsoft Excel)
  • Corporate Performance Management (CPM) tools (for example Solver)
  • Dashboards (for example Microsoft Power BI and Tableau)
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November 18, 2020