How can I verify the Trial Balance and Financial Statements?

How can I verify the Trial Balance and Financial Statements?

Follow the steps below to verify the Trial Balance and Financial Statements:

  1. Log in to the ADDA Admin Portal.

  2. Navigate to General Ledger → Trial Balance.

  3. Review the closing balance of each ledger in the Trial Balance report.

  4. Navigate to General Ledger → Financial Statements.

  5. Generate the Financial Statements for the same accounting period as the Trial Balance.

  6. Compare the balances in the Trial Balance, Financial Statements, and the audited financial reports for the same period.

  7. If you find any discrepancies, review the corresponding ledger entries and transactions to identify the cause of the difference.


Author: Prabhalika

    • Related Articles

    • How to Access All Audit-Required Reports in ADDA

      All key audit-related reports can be accessed and downloaded from the ADDA Admin Panel. Below is a breakdown of the report categories, their paths, and report numbers: 1. Financial Statements Path: Admin Panel → General Ledger → Trial Balance / ...

    • How can I access all audit-required reports in ADDA? (UAE)

      Note: This FAQ applies only to UAE communities. The audit reports listed below are specific to the UAE region. All key audit-related reports can be accessed and downloaded from the ADDA Admin Portal. Follow the paths below to locate the required ...

    • Can I download the Books of Accounts in PDF format for printing?

      Currently, the Books of Accounts cannot be downloaded directly in PDF format. If you need a printable copy, you can export the report in HTML format and then print or save it as a PDF using your browser's print option. Follow the steps below: Log in ...

    • How can I unfreeze the books, and what are the implications of unfreezing?

      If you need to unfreeze the books for a financial year, please raise a support request by emailing support@adda.io. Our backend team will review your request and unfreeze the books for the required financial year. Implementation of Unfreezing the ...

    • How to generate Trial Balance?

      Please follow the below steps to generate Trial Balance: Step 1: Login to ADDA -->> Admin -->> General Ledger -->> Trial Balance Step 2: Select the date range for which Trial Balance required. Step 3: Select the type of Trial Balance you require. ...