Balance Sheet

The balance sheet shows the company’s financial position at the end of a specified period. The components of the balance sheet are

  • Assets,
  • Liabilities, and
  • Shareholder’s equity.
Statement Groups

The first step in creating a Balance Sheet is to identify which components each G/L account is reported under. To do this, we categorize accounts into statement groups.

All statement groups identified as balance sheet accounts will be included in the Balance Sheet.

Balance Sheet

To generate a Balance Sheet, navigate to the [d] General Ledger, then [h] Financial Statements, then [a] Balance Sheet.

You can select to just display the balances for the requested G/L period, or the accumulated year to date amounts. You can also review the actual amounts posted to each G/L account, or the budgeted amounts for each G/L account.

[d] General Ledger | [h] Financial Statements | [a] Balance Sheet

The Statement Groups for the Balance Sheet are set up with two categories (heading type = ‘C’).

[d] General Ledger | [u] Set Up | [d] Statement Group Entry

So the Balance Sheet Shows Assets on the first page, with a subtotal.

[d] General Ledger | [h] Financial Statements | [a] Balance Sheet

It then starts on a new page and reports Liabilities & Equity, also with a subtotal.

[d] General Ledger | [h] Financial Statements | [a] Balance Sheet
Printing, Emailing, Exporting to Excel

Like all reports, you can export the Balance Sheet to an excel spreadsheet and further examine it. Or you can print or email a PDF version.