Just as time and billing software can be considered a subset of practice management, trial balance is often thought of as a subset of write-up. That's because the ultimate product of these two applications, a set of financial statements, is the same. The intent of trial balance software, however, is usually very different from that of a write-up package.Write-up software is designed to allow an accounting practice to perform detailed data collection from their clients. In many cases, this will consist of bookkeeping as well as accounting in the form of preparing adjusting and correcting journal entries. While financial statements may be generated frequently for client use, the real goal of write-up is generally to produce the original books of record, including a general ledger and subsidiary journals, for the client.
A trial balance application is often used for other types of engagements, such as a compilation, review or audit. In these engagements, rather than generating the original books of record, the desired end result is a set of financial statements upon which a report will be issued. Some trial balance applications allow you to produce not only the desired financial statement, but also the report and any required supporting statements, workpapers and other required documentation.
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