![]() In terms of mapping our Trial Balance to the financial statements, we can follow this overall guideline. We can use any structured source data to prepare a mapping table for any report. And the truth is, it’s relatively easy once we get over setting up our initial structure. The good news is that with a few tricks in Excel, we can automate a large part of this process. Once we prepare our statements manually, it’s hard to make corrections, and almost impossible to reuse the work for the next periodic report. But it’s a time-consuming exercise, prone to errors. This is a common approach amongst many accountants. We can export the data from our systems and prepare a template for the Excel statement, where we will aggregate this data. One way to approach the preparation of more specific statements is to do it in Excel. Most ERP and accounting software solutions out there can generate decent standard reports. ![]()
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