Getting Started with Trio Ledger

Trio Ledger records the financial activity of a very small business and turns that activity into clear financial statements. You describe what happened; Trio Ledger handles the bookkeeping structure behind it.

Start with what already exists

If the business was already operating when you began using Trio Ledger, first enter Starting Balances for accounts that already contained money, amounts the business already owed, and equipment or property it already owned.

A Starting Balance describes the business at the point where its Trio Ledger records begin. It is not a substitute for recording activity that happens afterward.

Record new activity as it happens

Use Add transaction and choose the workflow that matches the event:

• Money came in for business income received. See Recording Money That Came In.
• Money went out for ordinary business expenses. See Recording Money You Spent.
• Move money when money moves between the business's own accounts.
• Owner money in/out for money moving between the owner and the business.
• Loan for new borrowing and loan payments.
• Equipment & property for purchases that the business will track as assets.

These choices matter. A transfer, loan deposit, or owner contribution may put money in a bank account, but it is not business income. A credit-card payment or loan-principal payment may take money from checking, but it is not an ordinary business expense.

Review and report

If you cannot identify an income or spending category, use the Not sure choice and save the transaction. Transactions that need attention appear under Needs Review so you or your bookkeeper can correct them later.

Open Reports to view the Income Statement and Balance Sheet. Understanding the Income Statement and Balance Sheet explains what each statement shows.