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The turnaround sheet is a balance sheet tool

Starting to make a balance, it is necessary to check whether the records in the accounts are correctly generated in the reporting period . To do this, they begin to make a turnover sheet, which is a table (chess) and contains information on the balances for all accounts involved at the beginning of the reporting period, the total turnover by months and the balances deduced on their basis. In other words, a turnover sheet is a method that allows accounting records to be summarized in accounting accounts.

Drawing of turnover sheets produce for all accounts of synthetic accounting, which are used in the enterprise. This document contains three pairs of columns, in which the turnover and the balance of the loan and debit are recorded. The results shown in the circulation must have pairwise equal values. That is, in all accounts, the debit turnover should be equal to the credit one, respectively; The same rule applies to monthly turnover. The results for the balances at the beginning of the month for the loan and debit should be the same, because as a result of using a double entry, each amount is fixed twice: on the credit of one and on the debit of another account. The sums must correspond to the results of the transaction log . If a discrepancy is found, then we can speak about an error or a missed operation.

If the balance (balances) is the same at the end of the month before the loan and debit, it can be concluded that they were obtained on the basis of the initial turnovers and balances. These balances (balances) are used by the accountant to develop a new balance sheet. So, if the accounting is properly managed, a pairwise equality of credit and debit opening balances, turnover of accounts and final balances should be performed.

The balance sheet or, in another way, the reverse statement on synthetic accounts is a register where in one place the balance and turnover totals for all synthetic accounts are reduced. It reflects both changes and condition of sources and means. With the help of such a sheet, you check the correctness of the accounts, as well as the implementation of a new balance sheet.

This document has the following form. The first column fixes the name of the balance accounts, which have balances: passive and active. From the second column to the fifth column, the corresponding credit amounts and debit for each account are reflected. In the 6th and 7th columns, the results are calculated, which are calculated on the basis of the initial revolutions and balances. Debit balances of active accounts are added with debit turnover, subtracting credit. And the credit balances of passive accounts are added to the turnover on the loan, minus the debit turnover. The result, accordingly, contains a debit balance or a credit one. The analytical statement in the analytical record is applied separately to each synthetic account. It represents the balances (balances) and the results of the turnover of the analytical accounts, which are combined into one synthetic account.

Such a turnover sheet, the forms of which contain information on accounts, allows you to monitor the movement and condition of individual accounts and the sources that form them. In addition, this document is used in the audit, when they study whether the accounts are correctly made in the respective accounts. For accounting purposes, a turnover sheet of analytical accounting accounts of settlements with contractors and suppliers is also used.

The chess turnover sheet provides an opportunity to summarize the data on the turnover accounts, allows you to disclose their contents and check whether the accounts correspond correctly . Entries in the chess sheet are produced in such a way that the correspondence is viewed so that it can be seen where the values came from and where they were going. The amount of debit turnover on all accounts must correspond to the amount of revolutions on the credit of the accounts, which is based on the principles of double entry.

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