R12 : AP Trail Balance

Posted on April 20th, 2008 by Sanjit Anand | Print This Post | Email This Post

Background

Once the entries have been made and before any report are extracted from the accounts, a trail balance is drawn up.This is standard accounting practice. This is just what it says it is - a try at balancing the figure before the profit is worked out and the balance sheet drawn up. By rule of thumb,If the double entry is correct, ie all debit entry for every credit entry and viceversa, then the total of debit balance and total of the credit balances equal .

In release 12:

o 11i Trial Balance is known as the Open Account Balances Listing report in R12
o It runs based on the Open Account Balances Listing Definition that you define.
o You can define the Listing Definition at a Ledger or Ledger Set level

It runs based on the Open Account Balances Listing Definition that you define then select as a parameter when you submit the Open Account Balances Listing report.

As a prerequisite, you must run the Open Account Balances Data Manager and select the Open Account Balances Listing Definition in the parameter labeled “Trial Balance Definition”.

Now , you can define the Listing Definition at a Ledger or Ledger Set level such that when you run the report, you can view open liability balances for operating units belonging to a given ledger or ledgers within a ledger set as shown below:

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• R12 : AP Trail Balance