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Home > Business & Careers > Accounting   »   Trial Balance & Balance Sheets

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Old Jul 15, 2007, 09:44 AM
Jeanne Arcand
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Trial Balance & Balance Sheets
Hi,

I am using Microsoft Money to do my husband's small company's books (Canada)
If it's a sole proprietorship, do I really need a trial balance and balance sheet?

thanks
Jeanne

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Old Jul 15, 2007, 11:51 AM   #2  
CaptainForest
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It shouldn’t take you that long using a computer program to come up with a Trial Balance and Balance Sheet, therefore I strongly recommend that you prepare one.

But, you asked, do I have to? The answer to that question is no, you do not. The government only cares how much income you make, which is an income statement question.

But once again, I would like to stress on the trial balance and balance sheet, as they will be VERY useful tools when trying to analyze the business.
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Old Nov 5, 2007, 11:14 AM   #3  
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what is a trail balance sheet
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Old Nov 5, 2007, 11:15 AM   #4  
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what is a trai balance and how to get started
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