What does the "Trial Balance" report show in Workday?

The "Trial Balance" report in Workday serves as a summary of all ledger account balances at a given time. It provides a crucial snapshot of the financial position of an organization, showing the balances of all accounts in the general ledger, which is essential for ensuring that the books are balanced. The report lists debits and credits, allowing financial professionals to verify that total debits equal total credits, confirming the accuracy of the financial records before further financial analysis or reporting occurs.

In the context of financial reporting, this summary is fundamental as it aids in identifying any discrepancies or errors that need to be rectified before generating final reports like the income statement or balance sheet. The focus here is on the balances rather than individual transactions or specific revenue and expense breakdowns, making it distinct from the other options provided.