A trial balance gives you a snapshot of every general ledger account and its ending balance for a specific period. It helps confirm that your books are in balance before preparing financial statements. By using parameters and formulas instead of manual updates, you can create a trial balance that is easier to refresh, more consistent, and less prone to errors. This guide walks through a simple process for building a reusable trial balance using the Data Extraction Wizard and Formula Wizard.
1. Start by adding parameters for the fiscal year and month.
2. Pick the cell where you want your columns to start, and go to the Analysis tab and select Data Extraction Wizard.
3. Choose the data model and fields to extract:
4. Optional: Enter values for the fiscal year and period parameters
5. Go to the next cell over (E6 in the picture) and open the Formula Wizard. Choose the data model and field to pull in, then add filters using the appropriate cells.
7. Repeat for other fields.
8. Edit formatting for column names and how data is displayed.
9. Data will change based on changes to parameters like fiscal year and period.
If you need assistance in creating a trial balance in Nectari, please contact RKL eSolutions.
Let us know if you would like to review these features in further detail or upgrade to the latest SEI/Nectari release.
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