Thomson Reuters offers Trial Balance CS as a stand-alone program that can be used as an integrated component of the larger CS Professional Accounting Suite. The system can support any number of client businesses and includes an array of tools for generation of financial statements, testing balances, customizing client-ready output and performing consolidations. The trial balance functions in the program are also included in the Thomson Reuters Engagement CS system, which is reviewed on page XX of this issue. Thomson Reuters also just announced in late May 2010 that its new SaaS professional accounting system, Accounting CS, will include trial balance capabilities along with other features.
As with most of the other programs in the CS Suite, Trial Balance CS shares an integrated database, which keeps data accurate across all programs and reduces data entry. The system provides a split-screen view when working with trial balances that allows users to view journal entries simultaneously, and to make quick changes to income basis or to customize the columns in the grid view, making it easy to see the effect of balances and adjustments. The grid can also be filtered so that users can focus on a specific chart of accounts subset. Journal entries and potential entries can be quickly posted or changed to other types, with the grid immediately updating to reflect the changes.
Trial Balance CS can be used to consolidate accounts from subsidiary entities or roll back consolidations, while accounts can be grouped by codes and sub-codes for detailed account analyses and reporting. The system includes a tax reconciliation utility that eases the process of recording and reconciling differences between adjusted net income and tax net income.
A customizable financial statement editor is also built in, offering more than 40 standard templates that can be easily formatted and tailored to client and firm preferences, along with the ability to add workpaper references, review notes and tick marks. Financial statements provide full drilldown capabilities when viewed on-screen. Trial Balance CS also offers 39 analytical ratios and the ability to add graphical elements to client-ready reports. Other reporting options include standard sets of financials, account changes, tax reconciliation, variances, grouping schedules, tax code reports and the ability to create PDF versions of most output. Reports can also be set up in groups saved to specific client profiles.
The integration functions available in Trial Balance CS allow for import of data from most business accounting programs, the ability to transfer trial balance data into UltraTax CS or GoSystem Tax, and export into Write-Up CS. Document management features are available through FileCabinet CS and GoFileRoom. When used with Write-Up CS, charts of accounts are automatically available for the client and financial statements that have been previously created are instantly available through the trial balance system. Additional analysis and management functions are available through integration with other programs in the CS Suite. Pricing for Trial Balance CS starts at about $900.