You will notice that you are given the option of selecting a few extra filters. Namely current month, prior month, current period YTD, Prior Year Month and Prior Year YTD.
1. Firstly, import your trial balance data. For a step by step guide on how to do this click here.
2. Compared to year-end file trial balances – monthly file trial balances will have some additional columns:
Current Month initial: Figures imported for the current month of the file.
Adjustment: Figures adjusted through journal entries. For more information on journal entries click here.
Current Month Final: Current month initial +/- adjustments.
Prior Month: Prior months figures - for comparison of figures.
3. By clicking on the Year to date progress tab you will navigate to some additional columns:
YTD initial, Adjustments – added through the journal entries, YTD Final and YTD.
- Finally, by clicking on the Prior Year tab you will navigate to previous years data which will be compared against current years data.