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Phase 7 · Accounting
Trial balance
Debit and credit balances per chart-of-accounts code, derived from the seed P&L and balance sheet. Phase 7 (real bookkeeping core) plumbs journal entries through the same shape — the surface is stable.
Group consolidated
10 consolidated entities
| Code | Account | Category | Debit | Credit |
|---|---|---|---|---|
| 100 | Cash at bank | asset | $58,900 | — |
| 110 | Trade receivables | asset | $2,400 | — |
| 150 | Prepayments | asset | $11,000 | — |
| 200 | Trade payables | liability | — | $16,000 |
| 220 | PAYG withholding | liability | — | $2,400 |
| 300 | Share capital | equity | — | $53,900 |
| 310 | Retained earnings | equity | $152,500 | — |
| 400 | Trading revenue | revenue | — | $310,000 |
| 500 | Cost of services | cogs | $52,000 | — |
| 600 | Insurance | expense | $80,000 | — |
| 620 | Professional fees | expense | $25,500 | — |
| Totals | $382,300 | $382,300 | ||
Journal entries · illustrative
| Date | Entity | Narration | Debit | Credit | Amount |
|---|---|---|---|---|---|
| 2026-04-30 | Aus Action Sports Pty Ltd | FY25/26 YTD revenue accrual | 1100 · Bank | 4000 · Revenue | $142,000 |
| 2026-04-30 | Aus Action Sports Pty Ltd | FY25/26 YTD cost of services | 5000 · COGS | 2100 · Trade payables | $28,000 |
| 2026-04-30 | Aus Action Sports Pty Ltd | FY25/26 YTD operating expenses | 6000 · Expenses | 1100 · Bank | $38,000 |
| 2026-04-30 | Web Dev Pty Ltd | FY25/26 YTD revenue accrual | 1100 · Bank | 4000 · Revenue | $168,000 |
| 2026-04-30 | Web Dev Pty Ltd | FY25/26 YTD cost of services | 5000 · COGS | 2100 · Trade payables | $24,000 |
| 2026-04-30 | Web Dev Pty Ltd | FY25/26 YTD operating expenses | 6000 · Expenses | 1100 · Bank | $42,000 |
| 2026-04-30 | Web Dev Pty Ltd | FY25/26 YTD income tax provision | 8000 · Tax expense | 2200 · Income tax payable | $25,500 |
| 2026-04-30 | Aus Action Sports Pty Ltd | Intercompany payable | 5100 · Intercompany expense | 2300 · Intercompany payable | $2,400 |
| 2026-04-30 | Web Dev Pty Ltd | Intercompany receivable | 1300 · Intercompany receivable | 4100 · Intercompany revenue | $2,400 |
Synthesised from the seed P&L + balance sheet via the illustrative journal-entry layer. Every line is balanced (debit = credit). Phase 7 swaps in real ledger journals.
Per-entity trial balances
Family Trust
30 Apr 2026
| Code | Account | Category | Debit | Credit |
|---|---|---|---|---|
| 100 | Cash at bank | asset | $8,000 | — |
| 300 | Share capital | equity | — | $8,000 |
| Totals | $8,000 | $8,000 | ||
Aus Action Sports Pty Ltd
30 Apr 2026
| Code | Account | Category | Debit | Credit |
|---|---|---|---|---|
| 100 | Cash at bank | asset | $18,500 | — |
| 150 | Prepayments | asset | $4,200 | — |
| 200 | Trade payables | liability | — | $6,800 |
| 220 | PAYG withholding | liability | — | $2,400 |
| 300 | Share capital | equity | — | $15,900 |
| 310 | Retained earnings | equity | $78,400 | — |
| 400 | Trading revenue | revenue | — | $142,000 |
| 500 | Cost of services | cogs | $28,000 | — |
| 600 | Insurance | expense | $38,000 | — |
| Totals | $167,100 | $167,100 | ||
Web Dev Pty Ltd
30 Apr 2026
| Code | Account | Category | Debit | Credit |
|---|---|---|---|---|
| 100 | Cash at bank | asset | $32,400 | — |
| 110 | Trade receivables | asset | $2,400 | — |
| 150 | Prepayments | asset | $6,800 | — |
| 200 | Trade payables | liability | — | $9,200 |
| 300 | Share capital | equity | — | $30,000 |
| 310 | Retained earnings | equity | $74,100 | — |
| 400 | Trading revenue | revenue | — | $168,000 |
| 500 | Cost of services | cogs | $24,000 | — |
| 600 | Insurance | expense | $42,000 | — |
| 620 | Professional fees | expense | $25,500 | — |
| Totals | $207,200 | $207,200 | ||