What is a trial balance report
Accounts Payable Trial Balance Report
Use the Accounts Payable Trial Balance Report to verify that total accounts payable liabilities in Payables equal those in the general ledger. Before closing a period, you can compare the cumulative total liability provided by this report with the total liability provided by your general ledger to reconcile these balances.
The Trial Balance Report lists and subtotals by supplier all unpaid and partially paid invoices for which Payables created journal entries. Payables lists and subtotals the invoices by the Accounts Payable Liability account. These invoices represent your organization's outstanding accounts payable liability. Therefore, to obtain the most up-to-date trial balance, you should create journal entries for your payment and invoice activity before submitting this report.
Since this report presents your outstanding accounts payable liability information, it is only valid for an accrual set of books.
If you use multiple currencies, Payables displays a Rounding Adjustments for Liability Account field for each liability account that has a rounding error situation. You may have a very small rounding adjustment if you make several partial payments on a foreign currency invoice. The sum of the functional currency equivalents for those partial payments may not sum to the functional currency invoice amount. For example, you may have a $100.00 functional amount invoice versus $99.99 if you make 3 partial payments. This fully paid invoice does not show up on the trial balance but Payables does keep
track of this small rounding difference so you can identify why the accounts payable balances may differ between your general ledger and Payables.
Selected Report Parameters
As of Date. Payables lists all unpaid or partially paid invoices with invoice dates on or before the As of Date you enter.
Selected Report Headings
Line. Invoice distribution line.
[Functional Currency] Amount. Payables prints the current invoice amount as expressed in your functional currency. Payables displays the invoice amount based on the current date, not the invoice amount based on the As of Date. You enter an As of Date as one of your report parameters.
When you submit the Payables Transfer to General Ledger program, Payables creates an accounting entry that credits this amount to your accounts payable liability account.
Remaining [Functional Currency] Amount. Payables prints the difference between the sum of an invoice's distributions and the sum of the posted payments for each invoice distribution, as expressed in your functional currency.
A positive amount indicates an outstanding accounts payable liability in the general ledger if you have posted the invoice. This can result from nonpayment, partial payment, or not creating a journal entry for the payment.
A negative amount can result from transferring a payment to your general ledger without transferring the invoice, or from transferring both the invoice and an overpayment.
Description. Partial description of an invoice.Source: docs.oracle.com