Trial balance & Nominal Ledger

Greetings - in UK using Quicken Home & Business 2008 to track a small business accounts.

Over the years I have provided the accountant each year with printouts of all the statements (bank, credit card, invoices, cash)

Accountant has said her fees would be less if I could provide a trial balance and nominal ledger.

I can't see such terms within Quicken - am I missing it, is there an equivalent?

Many thanks

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Reply to
wasted
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I do not have Quicken Home & Business, just Quicken Deluxe, but . . .

An Account Balance Report would be an approximation of a Trial Balance (well, a portion of one, anyway). I understand that Quicken Home & Business does offer a Balance Sheet, which would also approximate a portion of a Trial Balance. Neither report shows the income and expense accounts, which a true Trial Balance would show.

A Transaction Report by Category or Itemized Category Report would be an approximation of a General Ledger, but it does not show asset, liability or equity accounts. It does, however, show the income and expense accounts.

You could also give the accountant a copy of the Quicken file itself and let her run any reports she wishes (I assume that your Quicken file contains only transactions for your business and does include any personal transactions).

Reply to
Steven Latus

Ignoring investment accounts and formatting/sorting, isn't this the same as doing two transaction reports, one sorted by category and the other by account? What have I missed?

Mike

Reply to
Mike Blake-Knox

I thought from various discussions about Quicken and double entry accounting that Quicken Categories were equivalent to accounting "Accounts". If so, the banking transaction report sub-totalled by category and sorted by date was what I'd meant.

Mike

Reply to
Mike Blake-Knox

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