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Trial balance

Display balance definitions and round balances

The Balance Definitions screen displays the journal entry types that Engagement Manager includes in the calculation of each balance type. Engagement Manager always includes the unadjusted balance amount plus the specified journal entry types for each balance definition.
Follow these steps to display the balance definitions and to round current period balances to the nearest dollar.
note
  • When you select to round a balance type, the rounded balance is reflected in all other areas of Engagement Manager.
  • Assign Account Classification codes to the accounts to have account types so the balances will round correctly.
  • When you roll forward an engagement with rounded balances, Engagement Manager rounds the prior-period balances in the new engagement.
  • For a divisional client, you can round at the entity level or by division.
  • For a fund client, you can't round at the fund level.
  1. Open the engagement and select the
    Trial Balance
     tab.
  2. Select
    View
    , then
    Balance Definitions
    .
  3. Mark the checkbox in the
    Round
     column for each balance type that you want to round.
  4. Select the rounding accounts for the following:
    1. Asset
    2. Equity or Liability
    3. Income Statement
  5. Select
    Save
    .
To ensure that the latest balances are rounded, select
Refresh
.

This article applies to:

  • Product: Engagement Manager
  • Subject: Trial balance

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