Account Groupings

Account groupings play numerous important roles within TBTools Trial Balance.

  1. They are used to determine the account classification and type (asset, liability, equity, income, expense).

  2. They are used to determine net income (based on the associated account classification).

  3. They are used during creation and formatting of financial statements.

  4. They are used to category totals for entry into tax software programs.

Account groupings can be created from scratch, or they can be quickly imported using one of the supplied grouping templates. The supplied grouping templates will provide a quick starting point, and can then be modified to meet customized needs.

To import one of the supplied account groupings, select Edit > Account Grouping. From this screen, select the "import" button. This will open a windows file selection dialog box where you can select from one of several supplied account grouping templates. See screenshot with examples highlighted below. Select one of the available template files, and select Open to complete the import process.

After the Account Grouping is successfully imported, the next step is to map/assign the proper accounts to each grouping. This is likely a familiar exercise to many accountants, and likely requires very little explanation. When an account is assigned to a grouping, this establishes the account classification and type.

To assign accounts to groupings, select Edit > Account Mapping. This opens the account mapping screen. Accounts that have not been mapped are on the left, and the groupings are on the right. Then, double-click the account to move it from left to right. To un-map an account, just double-click it on the right side, and it will be moved back to the left (ungrouped) side.