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January 7, 2021
Question

Hi, Can we have brachwise Trial Balances in QBO, Multi india State accounting, as GST department required Statewise trial balances.,

  • January 7, 2021
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1 reply

January 7, 2021

Glad to have you here in the Community, @userrajesh-thakur.

 

Let me share some information about trial balance in QuickBooks Online (QBO).

 

A trial balance is a report that contains a timeline of accounting activity, such as opening balances, transactions, and transfers. The trial balance keeps track of all the monetary bookkeeping for a specific period. This is also a way to monitor credit and debit activity, keeping a regular check on your balance.

 

Also, it will pull out your records of expenses and the balances for certain reports during a certain period, such as the close of the financial year, monthly or quarterly. It helps you monitor the budget, track how transactions are being made, and ensure compliance with tax laws.

 

You can check out these articles to know more about customizing and running reports in QBO: 

Leave me a comment below if you have other questions. I'm more than happy to help. Take care!