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Run a Balance Sheet

See what the company owns, what it owes and what is left for the owners on any date, and compare it with last month.

Accounting Reports 6 steps 1:16 video Accounting - Manager
Where to find it AccountingReportsBalance Sheet

Steps

  1. Open Accounting > Reports and choose Balance Sheet under Statements.
  2. Type the As of date and press Tab. The report shows the position on that day.
  3. Assets come first: bank, cash, fixed assets, inventory and receivables, each with a subtotal. Total Assets is at the bottom of the section.
  4. Liabilities and Equity follow. Total Liabilities and Equity must equal Total Assets, and the Difference line shows 0.00 when the books balance. Current Year Earnings is the profit so far this year.
  5. Choose vs Previous Month in the box next to PDF to add a column with the balances one month earlier. vs Previous Year compares with the same date last year.
  6. Click PDF to open a printable copy, or XLSX to download an Excel file.

Note

The report only counts posted entries. If Difference is not zero, tell your accountant before you close the month.

What happens next

To see how much profit the year produced, run the Profit and Loss report.

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