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How to reconcile your trial balance to your financial statements with DataSnipper

This article will detail how to reconcile a trial balance to financial statements using the DataSnipper table snip, and document matching features.

 

Example

Here you can download the workbook shown in the video including all of the sample data and documents.

TB to FS rec - example

Template

Here you can download a blank version of the workbook shown in the video to use or customise for your own procedures.

TB to FS rec - template

Prerequisites

  • DataSnipper v4 or higher
  • Trial Balance in tabular format
  • Financial Statements

Method

  1. Import the trial balance and the financial statements into the DataSnipper workbook
  2. Use the table snip to extract the headings and data from the first page of the TB, you can then repeat this snip for the rest of the pages, you can also click on the "Edit Rows" button to update the row breaks for any wrapped text which was captured incorrectly


  1. Once your data is extracted from the TB you can make a pivot table to summarise this data at the Financial Statement Line Item Level


  1. Create a document match for your summarised TB data ensuring that you put the annual report in a seperate document group, you should also take into account any differences in units and allow for rounding errors.