Resources & FAQs

A trial balance lists general ledger account balances in debit and credit columns. Equal totals help identify whether the ledger is mathematically balanced, but do not prove every transaction is classified correctly. SwiftBook Pro's Trial Balance workspace presents balances for review and adjustment.

The unadjusted trial balance shows balances before period-end adjustments. The adjusted trial balance includes adjusting journal entries, such as accruals or expense reclassifications. SwiftBook Pro displays prior-year, unadjusted, adjustment, and adjusted columns side by side.

An adjusting journal entry records debit and credit changes needed for the reporting period. In SwiftBook Pro, adjusting entries feed the adjusted trial balance and affect net income when they involve revenue or expense accounts. Review the accounts, amounts, and period before posting.

Writeup organizes a client's transaction records into accounting balances and reports. SwiftBook Pro includes cash receipts and cash disbursements workflows alongside Trial Balance and Writeup, helping accountants organize bookkeeping activity before period-end review.

The Trial Balance year-end workflow closes the selected file and prepares the next fiscal year with appropriate opening balances and prior-year comparisons. Balance sheet balances carry forward, while revenue and expense accounts begin a new reporting year. Review adjustments and financial statements before closing.

Registers organize activity for a selected cash, bank, or credit card account. Record transactions, assign offset accounts, review running balances, and print the selected register. Always check the account and reporting-period controls before entering or reviewing activity.

A split allocates one payment or receipt across multiple accounting categories. For example, one vendor payment might include both supplies and repairs. The allocation amounts should total the transaction amount; the split does not create a second payment.

Eligible unreconciled transactions in an open file can be edited or deleted even after posting, including corrections to dates and amounts. Reconciled entries have additional protections; account or split allocation corrections may remain available. Payroll-generated activity and linked entries can require correction through their source workflow. A running balance is calculated, not entered independently.

Reconciliation compares register activity with a bank or credit card statement for a defined period. Match transactions and verify the statement ending balance before completing the reconciliation. Completed reconciliations protect cleared records; undoing a reconciliation is a separate action, performed newest first.

Transaction-file imports help reduce manual entry and still require review of dates, amounts, duplicates, and account assignments. File import is not the same as a live bank connection. Customer invoices and receipts support accounts receivable; vendor bills and payments support accounts payable. Related journal entries organize the activity in the general ledger.

Gross pay is earnings before employee taxes and deductions; net pay is the amount payable after applicable deductions, with reimbursements handled according to their configuration. SwiftBook Pro lets you review earnings, withholding, deductions, employer taxes, and net pay before posting payroll.

Employee withholding reduces the employee's pay, while employer payroll taxes are additional employer costs. SwiftBook Pro tracks these categories separately. Correct employee setup, supported payroll state, tax year, and year-to-date information are important for calculations.

A reimbursement item is not necessarily taxable wages. SwiftBook Pro distinguishes configured non-taxable reimbursements from taxable earnings when calculating payroll taxes and wage reports. Confirm the item's classification and applicable tax treatment rather than assuming every payment is taxed the same way.

Payroll reporting includes payroll registers, employee earnings detail, federal Form 941 and Form 940 worksheets, W-2/W-3 summaries, and supported state quarterly worksheets. Availability and calculations depend on the selected year and state. Review report information against current agency requirements before filing.

No. Preparing a worksheet or recording a tax deposit is not electronic filing or remitting funds to a tax agency. Likewise, preparing a direct deposit file is not confirmation that a bank accepted or processed it. Complete required filing, payment, and bank-submission steps separately and verify acceptance.

A balance sheet presents assets, liabilities, and equity at a point in time. Assets should equal liabilities plus equity. SwiftBook Pro's Simply Reports includes balance sheet reporting based on the selected file and period, so account classification and complete posting matter.

An income statement reports revenue and expenses over a period and shows net income or loss. A balance sheet reports financial position at a date. Review both: profit is not the same as the cash balance in a bank account.

Ratios help compare liquidity, profitability, and financial structure. SwiftBook Pro includes measures such as the current ratio, return on equity, and debt-to-equity. Interpret results alongside the underlying balances and business context; missing data or a zero denominator can make a ratio unavailable or misleading.

Earnings per share (EPS) depends on earnings and shares outstanding. A price-to-earnings (P/E) ratio also requires a share price. SwiftBook Pro's market-value ratios apply to eligible corporation entity types and use fiscal-year-specific market inputs. They are analytical measures, not investment recommendations.

Supported report screens and the check and credit card registers provide print controls. The browser print dialog can save a report as PDF where supported. Review the selected client, account, year, and report period first, and allow the report popup if your browser blocks it. Export options vary by screen.

A client file provides the accounting context for a business and fiscal year. When working with multiple clients, check the active file before entering transactions or preparing reports. Switching clients should not be treated as moving transactions between their books.

The fiscal year defines the accounting period for balances, comparisons, and year-end work. Individual screens may also have calendar-year or date-range filters. Confirm both the file's fiscal year and the screen's filter when reviewing historical activity.

Use Full Accounting for daily registers, invoices, bills, and reconciliation; Payroll for employee pay and payroll reporting; and Trial Balance & Writeup for account-balance review, adjusting entries, and the professional close. Module availability depends on your account access and subscription.

Yes. Organization roles, module permissions, and client assignments determine access. A team member's access to Payroll does not automatically grant access to every accounting workflow or client file. Ask an organization owner or administrator to review the required permissions.

The public video pages include an overview, a bookkeeper introduction, a CPA introduction, and a narrated three-module feature tour. Each has captions and a transcript. Use the video links in these sections to explore the relevant workflow without signing in.