#Balance Sheet

The balance sheet shows your organization's financial position at a point in time—what you own, what you owe, and your net worth.

#Accessing the Report

Go to Finance → Reports → Balance Sheet

#Reading the Report

#Assets (What You Own)

Current Assets — Short-term (within one year):

• Cash
• Accounts Receivable
• Inventory
• Prepaid Expenses

Non-Current Assets — Long-term:

• Property
• Equipment
• Investments

Total Assets = Current + Non-Current Assets

#Liabilities (What You Owe)

Current Liabilities — Due within one year:

• Accounts Payable
• Short-term Loans
• Accrued Expenses

Non-Current Liabilities — Due beyond one year:

• Long-term Loans
• Bonds Payable

Total Liabilities = Current + Non-Current Liabilities

#Equity (Net Worth)

• Owner's Capital
• Retained Earnings
• Current Period Net Income

Total Equity = Capital + Retained Earnings

#The Accounting Equation

The balance sheet must always balance:

Assets = Liabilities + Equity

If it doesn't balance, there's an error in your books.

#Key Metrics

#Filtering

Select a Fiscal Year to view the balance sheet as of that period's end.

#When to Use

Review the balance sheet:

• At period-end for financial position
• When applying for loans
• For investor reporting
• When making major financial decisions