Trial balance
The trial balance lines up debit and credit totals for what suppliers are owed, what customers owe, your payment account balances and your capital accounts. It is the first check an accountant runs, and SeroPOS builds it from the records already in your back office.
Trial balance in SeroPOS
Debits and credits
Each line is placed in a debit or credit column, with totals at the bottom of each.
Supplier dues
What you still owe suppliers on unpaid purchases appears as its own line.
Customer dues
What customers still owe on unpaid and part-paid sales appears as its own line.
Payment account balances
Each account under Payment Accounts, such as a bank account or cash box, shows its balance.
Capital accounts
Owner's capital accounts are listed separately from the everyday payment accounts.
Print for your accountant
Print the trial balance straight from the screen for month-end or year-end work.
Do the books balance
A trial balance lists balances in two columns, debits and credits, and the two totals should agree. When they do, you have a sound starting point for preparing statements. When they do not, something has been recorded on one side and not the other, and it is far easier to find at month end than at year end.
In SeroPOS the trial balance is in the web back office under Payment Accounts, as Trial Balance. It needs the Account module switched on in Business Settings under Modules, and a role with access to accounts. Once it is on, Payment Accounts appears in the sidebar with the trial balance, balance sheet, cash flow and payment account report grouped together, so month-end checks happen in one place.
What the lines are
The trial balance shows four kinds of line. Supplier due is what you owe on purchases not yet fully paid. Customer due is what customers owe on sales not yet fully paid. Then come the balances of each payment account and each capital account you have set up. Each is placed on the debit or credit side as appropriate, and the report totals both columns.
Because supplier and customer dues come from your purchases and sales, keeping payments up to date matters. A supplier bill paid by cheque but never recorded in SeroPOS still shows as owed, and it sits on the trial balance until the payment is entered. The same applies to customer payments.
- Supplier due
- Customer due
- Payment account balances
- Capital account balances
- Debit and credit totals
Getting it ready for month end
Before you print, tidy the inputs. Record any customer payments still outstanding through Receive Payment, and any supplier payments against their purchases. Check the payment account report for payments not yet linked to an account and link them, so account balances are complete. Then run the trial balance. It takes a few minutes.
Print it from the report screen and keep it with the balance sheet and the profit and loss report for the same period. That set covers most of what a bookkeeper asks for at month end. Keeping a printed or saved copy each month gives you a record to compare against later, which helps when a question comes up about an old period.
Payment Accounts or the Accounting module
This trial balance is built from your POS sales, purchases and payment accounts. It is a good fit for owners who keep their main books elsewhere but want a check on the numbers SeroPOS holds. It is not a general ledger with a full chart of accounts. It works well alongside a separate set of books.
If you want full double-entry books inside SeroPOS, the Accounting add-on module adds a chart of accounts, journal entries that will not save unless debits equal credits, and its own trial balance, balance sheet and ledger report. Its working papers pack exports the main statements to one Excel file for your accountant.
Frequently asked questions
Where do I find the trial balance?
In the web back office, open Payment Accounts in the sidebar and choose Trial Balance. If Payment Accounts is missing, an owner or admin needs to switch on the Account module in Business Settings under Modules and give your role access to accounts.
What does the SeroPOS trial balance include?
It lists supplier due, customer due, the balance of each payment account and each capital account, in debit and credit columns with totals. These figures come from the sales, purchases and payments recorded in the back office and on your tills.
Why doesn't my trial balance balance?
This trial balance is built from dues and account balances rather than a full ledger, so the totals are only as complete as the records behind them. Check the payment account report for payments not linked to an account and link them. Then look through each account book for transactions entered on the wrong account.
Can I print the trial balance for my accountant?
Yes. The trial balance screen has a print option. Many accountants also want the balance sheet and the profit and loss report for the same period. If you use the Accounting add-on, its working papers pack exports these together in one Excel file.
Is there a trial balance with a full chart of accounts?
Yes, in the Accounting add-on module. It has a chart of accounts, journal entries and its own trial balance, balance sheet, cash flow statement and ledger report. The Payment Accounts trial balance is the simpler version built from POS data.