Financial Reports - Balance Sheet

This report shows a summary of your business’ assets, liabilities, and equity as of a specific time period. This report is useful when you would like to review beginning, YTD, and ending balances for a specific accounting category. For more on what categories are, please click here. We'll briefly review each of the above accounting groups in order to provide a bit more context to this report. 

  • Assets - Something that an entity has acquired or purchased, and that has money value (its cost, book value, market value, or residual value). An asset can be (1) something physical, such as cash, machinery, inventory, land and building, (2) an enforceable claim against others, such as accounts receivable, (3) right, such as copyright, patent, trademark, or (4) an assumption, such as goodwill. Assets shown on their owner's balance sheet are usually classified according to the ease with which they can be converted into cash.*
  • Liabilities - Accounts and wages payable, accrued rent and taxes, trade debt, and short and long-term loans. Owners' equity is also termed a liability because it is an obligation of the company to its owners. Liabilities are entered on the right-hand of the page in a double-entry bookkeeping system.*
  • Equity - Ownership interest or claim of a holder of common stock (ordinary shares) and some types of preferred stock (preference shares) of a company.*

To access this report, please follow these steps:

  • From the Dashboard, click the Reports tab, then Financial Reports
  • From here, you will be taken to the Financial Report list; click on the 'Balance Sheet' option
    • Once you are in the report, you change the data set you are viewing by switching the Fiscal Year and Period combination
    • If you would like to view this report outside of the Autobooks application, you can click the [Export to Excel] button 




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