Why don't the trial balance debits and credits agree to the consolidated trial balance totals?
- 03 Jun 2023
- Contributors
- Print
- DarkLight
- PDF
Why don't the trial balance debits and credits agree to the consolidated trial balance totals?
- Updated on 03 Jun 2023
- Contributors
- Print
- DarkLight
- PDF
Article summary
Did you find this summary helpful?
Thank you for your feedback
Trial balance totals don't agree to the consolidated trial balance totals for the same period and they should, shouldn't they?
Answer:
When the trial balance is run, the total amounts for each fund are displayed by account and you can see the values show on both the debit and the credit side and are thus included in the totals for each.
When the consolidated report is run, the total for each natural account only shows in one column and is thus included in only the total for that column. Comparing debit and credit totals between the two reports rarely results in the same values unless all of the trial balance numbers are of the same sign.
When the consolidated report is run, the total for each natural account only shows in one column and is thus included in only the total for that column. Comparing debit and credit totals between the two reports rarely results in the same values unless all of the trial balance numbers are of the same sign.
Was this article helpful?
