⬜ Balance Sheet and Trial Balance in AurPOS

In AurPOS, the accounting tools offer access to accurate and comprehensive financial reports. Among the most essential tools are the Balance Sheet and Trial Balance, each serving different purposes in financial assessment. Together, they help you monitor assets, liabilities, and account balances with full clarity.

1️⃣ Balance Sheet in AurPOS

✅ How to Access the Balance Sheet:

From the side menu, go to Accounts → Balance Sheet.

✅ What Is the Balance Sheet?

The Balance Sheet is a report that shows your business’s financial position at a specific point in time. It helps you evaluate the value of your assets (what your business owns) and liabilities (what your business owes) to determine overall financial health.

✅ What Does the Balance Sheet Display?

Upon opening the page, the system displays up-to-date data based on the selected filter date, including:

Assets:

• Customer Receivables

• Closing Inventory

• Account Balances (e.g., Customers, Rent)

Liabilities:

• Supplier Payables

• Bills Payable

• Any other outstanding expenses or obligations

At the bottom, the system summarizes:

• Total Assets

• Total Liabilities
  
  

✅ Additional Features:

• Use the date filter to select a specific financial period.

• Use the bussines location filter to view data for a specific location.

• A Print button is available at the bottom-right of the screen to export the report.

⭐ Why Use the Balance Sheet?

• Provides a clear snapshot of the financial strength of your business.

• Helps evaluate your business’s ability to meet its obligations.

• Serves as a foundation for preparing financial statements and management reports.

2️⃣ Trial Balance in AurPOS

✅ How to Access the Trial Balance:

From the side menu, go to Accounts → Trial Balance.

✅ What Is the Trial Balance?

The Trial Balance is a report used to verify the accuracy of accounting entries. It displays each account with its debit or credit balance, helping you confirm that your accounts are in balance before generating financial statements.

✅ What Does the Trial Balance Display?

The system presents detailed information for each account, such as:

• Supplier Payables (as Credit)

• Customer Receivables (as Debit)

• Other accounts like Customers, Bills Payable, Rent, etc.

Each account line shows:

• Debit amount (if any)

• Credit amount (if any)

At the bottom of the report:

• Total Debit

• Total Credit

This allows you to quickly verify whether your accounts are balanced.

✅ Additional Features:

• Filter the report by date and business location.

• Use the Print button at the bottom-left to generate a physical copy.

⭐ Why Use the Trial Balance?

• Helps detect accounting errors early.

• Serves as a key step before preparing the Balance Sheet and financial statements.

• Simplifies account review for accountants and auditors.