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    How to understand working trial balance?

    TG
    Level 1
    ‎12-07-2019 02:48 AM

    How to create a working trial balance for the company and how to understand its inputs?

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    sjrcpa
    Level 15
    ‎12-07-2019 02:48 AM

    The trial balance will come from the accounting software.

    Understanding it requires some bookkeeping and accounting knowledge.


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    6 Comments 6
    sjrcpa
    Level 15
    ‎12-07-2019 02:48 AM

    The trial balance will come from the accounting software.

    Understanding it requires some bookkeeping and accounting knowledge.


    Ex-AllStar
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    TG
    Level 1
    ‎12-07-2019 02:48 AM
    I understand accounting rules but don’t understand how to manipulate p and l and BS to create the differences for making a an M1 adjustment
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    TG
    Level 1
    ‎12-07-2019 02:48 AM
    in lacerte
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    sjrcpa
    Level 15
    ‎12-07-2019 02:49 AM
    First you need to identify the book tax differences. I take the trial balance and post Tax Journal Entries to it to get to a tax trial balance.

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    TG
    Level 1
    ‎12-07-2019 02:49 AM
    Ohk... So if I say that I have to make a WTB for year 2018, then I will have to take 2017 ending trial balance from Lacerte and then bring it forward for year 2018 line items and do the reconciliation?
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    sjrcpa
    Level 15
    ‎12-07-2019 02:49 AM

    No offense intended but I think you need more help than you are going to be able to get here on the forum. Please try to find a more experienced accounatnt to help you.


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