Turnover balance sheet - balance sheet tool
Starting to balance, it is necessaryto check whether the records in the accounts were correctly generated in the reporting period. To do this, begin to make a turnover sheet, which is a table (chess) and contains information on balances on all accounts involved at the beginning of the reporting period, the total turnover by month and the balance on their basis. In other words, a turnover sheet is a method that allows accounting records to be summarized in accounting accounts.
Drawing of turnover sheets produce onall accounts of synthetic accounting that are used in the enterprise. This document contains three pairs of columns, in which the turnover and the balance of the loan and debit are recorded. The results shown in the circulation must have equal values in pairs. That is, in all accounts, the debit turnover should be equal to the credit one, respectively; the same rule applies to monthly turnover. The results for the balance at the beginning of the month for the loan and debit should be the same, because as a result of using a double entry, each amount is fixed twice: on the credit of one and on the debit of another account. The sums must correspond to the results of the transaction log. If a discrepancy is found, then we can speak about an error or a missed operation.
If the balance (balances) at the end of the month is equalbefore the loan and debit it can be concluded that they were obtained on the basis of initial turnover and balances. These balances (balances) are used by the accountant to develop a new balance sheet. So, if the accounting is properly managed, a pairwise equality of credit and debit opening balances, turnover on accounts and final balances should be performed.
The balance of payments or, in another way, the negotiableThe statement on synthetic accounts is a register where in one place the balance and turnover totals for all synthetic accounts are reduced. It reflects both changes and condition of sources and means. With the help of such a sheet, you check the correctness of the accounts, as well as the implementation of a new balance sheet.
This document has the following form. The first column fixes the name of the balance accounts, which have balances: passive and active. From the second column to the fifth column, the relevant credit amounts and debit for each account are reflected. In the 6th and 7th columns, the results are calculated, which are calculated on the basis of the initial revolutions and balances. Debit balances of active accounts add to the debit turnover, subtracting credit. And the credit balances of passive accounts are added to the turnover on the loan, minus the debit turnover. The result, accordingly, contains a debit balance or a credit one. An analytical statement in analytical accounting is applied separately to each synthetic account. It represents the balances (balances) and the results of the turnover of the analytical accounts, which are combined into one synthetic account.
Such a turnover sheet, the forms of whichcontain information about accounts, allows you to monitor the movement and condition of individual accounts and the sources that form them. In addition, this document is used in the audit, when they study whether the accounts are correctly made in the relevant accounts. For accounting purposes, a turnover sheet of analytical accounting accounts of settlements with contractors and suppliers is also used.
Chess checklist gives an opportunityto summarize the data on the turnover accounts, allows you to disclose their contents and to check whether the accounts correspond correctly. Entries in the chess sheet are produced in such a way that correspondence is seen so that it can be seen where the values came from and where they were going. The amount of debit turnover on all accounts must correspond to the amount of revolutions under the credit of the accounts, which is based on the principles of double entry.