Trial Balance
The Trial Balance is part of Books & Financial Reports (Standard and above). If you've left Standard, it stays readable through your last paid day, and a date past that is cut back to it. See Books & Financial Reports.
The Trial Balance report gives you a snapshot of every account's net balance for a selected period. It lets you verify that your books are in balance — total debits must equal total credits — before exporting data to QuickBooks, Wave, or any other accounting system.
Opening the report
- Go to Reports in the sidebar.
- Set your date range using the date pickers or the 7d / 30d / 90d shortcuts.
- Scroll down to the Trial Balance card.
The report refreshes automatically whenever you change the date range.
What you see
Accounts are grouped into five sections:
| Section | Accounts |
|---|---|
| Assets | Inventory Asset, WIP, Finished Goods, Accounts Receivable, Marketplace Clearing, Cash |
| Liabilities | Accounts Payable, Goods Received Not Invoiced, Sales Tax Payable |
| Equity | Owner's Equity / Adjustments |
| Revenue | Revenue |
| Expenses | Cost of Goods Sold, Operating Expenses |
If your totals changed recently: as of July 2026 the report includes Marketplace Clearing and Operating Expenses, which were previously left out. If you sell through a marketplace or approve vendor bills, your debit and credit totals may not have tied before — they do now. The new figures are the correct ones.
Each row shows:
- Account — the display name (customizable in Settings → Chart of Accounts)
- Number — the account number if you have one set
- Debit Balance — net debit position for the period
- Credit Balance — net credit position for the period
The Totals row at the bottom sums both columns. If total debits equal total credits, a green Balanced badge appears. A red Unbalanced badge means there is a discrepancy — this typically indicates missing journal entries or a data issue worth investigating.
How balances are calculated
Iraca aggregates all posted journal entry lines within the date range and computes a net balance per account type:
- Net = total debits − total credits for the account
- A positive net appears in the Debit Balance column
- A negative net (more credits than debits) appears in the Credit Balance column
Only posted entries are included. Draft or voided entries are excluded.
Customizing account names and numbers
If you map your accounts under Settings → Chart of Accounts, the trial balance uses those names and numbers. This is useful when your accountant or software uses a specific chart of accounts (e.g. QuickBooks chart).
Closing the month
The Close the month → link in the Trial Balance card opens a guide that runs this check for a whole month, then takes you through review, export and lock. See Closing the Month.
Exporting
Click Export CSV to download the trial balance as a spreadsheet. The file is named trial-balance-YYYY-MM-DD-YYYY-MM-DD.csv and includes the account name, number, debit balance, and credit balance for every account, plus a totals row.