Audit Balance

Overview of the Audit Balance Page – How to Access, Concept, Features, and Uses

To access the Audit Balance page, please follow these instructions:

• Start by clicking on the “Finance” menu in the main menu.
• Next, click on “Account Review” available in the top toolbar.
• Then click on the “Audit Balance” link.

Concept of the Audit Balance Page and its Uses and Benefits:

• What is the “Audit Balance” Page: It is an essential part of financial reports for companies and organizations, constituting a part of the main financial statements. The main goal of the Audit Balance page is to clarify the current financial position of the company in a concise and comprehensive manner.
• The Audit Balance page typically includes a list of the company’s financial assets and liabilities at the end of the specified financial period, allowing readers to understand the company’s owned wealth and outstanding obligations. The balance sheet is divided into two main sections:
  1. Assets: Displays financial assets and assets that generate value for the company. Assets are divided into fixed assets (such as real estate and equipment) and current assets (such as cash and accounts receivable).
  2. Liabilities: Displays financial obligations and amounts payable by the company. Liabilities include loans, debts, and payable obligations.
• The Audit Balance must be balanced, where the total assets must be equal to the total liabilities. This principle is reflected in the following equation: Total Assets = Total Liabilities.
• The Audit Balance page provides a quick and comprehensive overview of the company’s financial position, which is crucial for understanding its ability to meet its financial obligations and its ability to generate profits. This page relies on accurate financial data and is reviewed by certified accountants or financial auditors.

• Uses of the “Audit Balance” Page:

• 1. Financial Position Evaluation: The Audit Balance page helps estimate the total value of assets and the amount of outstanding obligations for the company, aiding in assessing the current financial health and strength.
  2. Clarifying Financial Positions: The page clearly and simply displays the amount of assets and liabilities, making it easier to understand the company’s financial position.
  3. Financial Decision-Making: It serves as a powerful tool for making strategic financial decisions. By understanding the distribution of assets and liabilities, management can make informed decisions regarding investment and financing.
  4. Financial Analysis: Financial analysts can examine financial ratios and extract vital information about the company’s financial performance.
  5. Review of Account Movements: Through the “Audit Balance” page, you can view and review the general ledger movements related to any of your accounts. Simply click on the account number link you wish to review, and you will get a comprehensive and up-to-date view of all transactions and transfers related to that account.

• Available Filters for Search Operations Include:

  1. Date Filter: Using this filter, you can specify a time period to search for the net balance during that period. You can extract daily, monthly, quarterly, or yearly balances. Select the start and end dates to view the balance for the specified period.
  2. Branch Filter: Choose a balance specific to a particular branch and also choose to view a balance that includes all branches to get a complete picture.
  3. Sector Filter: View a balance related to a specific sector and select an option to display a balance that includes all sectors for a comprehensive view.
  4. Zero Values Hide Option: This filter hides accounts with zero values from the balance.
  5. Balances Only Option: It displays the account value as the net balance after deducting the debit from the credit.
  6. Group Totals Only Option: It displays group account totals while hiding individual accounts.