Purpose of the Balance Sheet
The Balance Sheet provides a snapshot of your company's financial health at a specific point in time. It summarizes your company's assets, liabilities, and equity, offering valuable insights into what the company owns and owes. This report helps stakeholders understand the company's financial position and make informed decisions about future operations, investments, and financial strategies. You can find it in the reports page under the "Accounting" category.
Report Parameters
End Date
Select the end date for which you'd like the Balance Sheet data calculated. The report will include all transactions up to and including this date.
Company (Multi-select)
This parameter displays all active companies.
By default, all companies are selected.
You may select or deselect individual companies to customize your report.
State (Single-select)
Choose a specific state or "All States."
Selecting a specific state filters the report to include only transactions associated with sites located within that state.
Selecting "All States" includes transactions from all locations without any filtering.
Sort Accounts By
Choose the sorting method for accounts in the report:
Name: Accounts will be sorted alphabetically by account name.
Number: Accounts will be sorted numerically by account number.
Account Grouping
Accounts in the Balance Sheet are grouped first by their account category and then by account type. The report also shows the total amount for every account type and account category. The possible account categories are Asset, Expense, Equity, Income, and Liability. There are many possible account types, such as Bank, Accounts Payable, and Accounts Receivable.
Related Reports
Balance Sheet by Property:
Similar to the standard Balance Sheet, this specialized report allows you to focus specifically on selected buildings or properties, giving a more detailed look at the financial position for particular assets.