BC-GL-RT3 Trial Balance

Applies to

• Product version: Velixo NX
• ERP: Dynamics 365 Business Central
• Functional area: Financials, Others
• Plan: All
• Template type: Production Report template

TABLE OF CONTENTS

• Applies to
• Description
• Coverage
• Typical audience
• Features
• Preview
• Download this template
• Documentation
  • Filters
  • Trial Balance Structure
• User Guide
  • Using the report
• Version History

Description

The BC-GL-RT3 Trial Balance report serves as a financial tool, systematically presenting the debit and credit balances of a company's accounts. Its primary function is to conduct preliminary checks to verify the accuracy of recorded transactions. Additionally, this report details the opening and closing balances, providing a comprehensive financial snapshot that provides valuable insights into the company's fiscal standing at a specific moment in time.

Coverage

This workbook includes the following sheets:

• Trial Balance: the Trial Balance Report comprises Dynamics 365 Business Central account codes. Listed in order together with the corresponding balances.
• Control: a control report that can be used to confirm that the data is accurate and balances. 
• Options: the template’s settings sheet that used for data validation lists and various lookups and configurations.
• Information: the information sheet of the report, used for storing useful details about the report such as: code, version, article link to keep track of the origin of the report.

Typical audience

The typical users of this type of report are Finance professionals: Accountants, CFOs, Controllers

Features

The following features are used by this report. To use this report, please ensure that your Velixo license includes all of them, (or contact Support or Sales):

• Financial functions
• List functions
• Query functions

Preview

Download this template

Template will be available for download soon

Documentation

Navigating and utilizing the BC-GL-RT3 Trial Balance report is a very straightforward process, designed for simplicity, genericity and efficiency.  The report has conveniently included the account codes from Dynamics 365 Business Central, enhancing user convenience.

Filters

Located in the upper left of the sheet, the filters include:

• Dimensions: lists all dimensions present in Dynamics 365 Business Central instance
• As of (Period): a date field. Please use the last date of a financial period/month 

These filters are seamlessly linked to the data on the Options tab.

Note: The dimension list updates dynamically based on the number of dimensions configured in your instance. However, the template can process a maximum of 10 dimensions per company. If your instance includes more than 10 dimensions, please contact Velixo Support for assistance.

Trial Balance Structure

Accounts Codes: Velixo used a VX function to structure the Trial Balance report to list all the available account codes from the Dynamics 365 Business Central. The corresponding account names are included as well for a better overview.

Metrics: The report includes the following metrics :

• Opening Balance
  • Using the BC.OPENINGBALANCE function, this column returns the balances from the start of the fiscal month.
• Closing Balance
  • Using the BC.CLOSINGBALANCE function, this column returns the balances as of the date specific on the As of filter.
• Debit / Credit
  • The Debit and Credit balances per account extracted using the functions BC.DEBITS and BC.CREDITS.
• Net Change
  • The total movement (debits minus credits) in an account within the selected date range, excluding any prior period balances.

Time Period

The incorporated time period encompasses the following:

Current Year:

• Provides the accumulated balance from the start of the fiscal year (depending on the user input for the fiscal start month on the Options tab) up to the indicated as-of-date.
• For example, if a user selects 6/30/2019, and the specified fiscal start month is April, the returned balance spans from April 1st, 2019, to June 30th, 2019.
• To obtain the full year position, it is crucial to specify the last date of the fiscal year.

User Guide

Using the report

Now that we've covered the report overview, let's dive into a step-by-step guide on effectively utilizing the report:

• Set the Connection Name on the Options Sheet: crucial for all processes, set the Connection Name on the Options sheet by updating cell A2. Ensure it matches the name used during Velixo application login.

• Update the Options Sheet: As the foundation for filters on the Trial Balance report sheet, keep the Options sheet up to date. It should always and automatically capture the latest dimensions and structures from your Dynamics 365 Business Central instance.

• Setting Sorting Priority by Category or Subcategory (Optional): by default, the account codes in the report are sorted in chronological order. However, the template provides flexibility to sort the data by Category, Subcategory, or both. To configure the sorting order:
  • Set the Sorting Priority to Yes - this will display the sorting columns. Enter numerical values in the Category and Subcategory columns to define the sorting order for the main table. If no value is specified, the category or subcategory will be placed last in the sorting order.

• Choose Desired Filters: after updating the Options sheet, select desired global filters for the report:
  • Dimensions
  • As of (Period)

• Automatic Report Update: selecting any filter will automatically update report balances. Begin analyzing the report with the latest data.

Version History