View the Balance Sheet:
- On the left-side menu, click Reports, then Balance Sheet.
- Select your statement date.
- Click Filter Report to review your statement.
- An overview of your cash and bank balance, income to be received, and the expenses to be paid for your selected date is displayed at the top of your report.
You can view your statement in full in either the Summary or Details tab:
- The Summary tab provides an overview of your total balance for asset, liability, and equity accounts.
- The Details tab provides an in-depth look at the specific accounts and balances within your business asset, liability, and equity categories.
Understand the Balance Sheet:
The core accounting equation is: Assets = Liabilities + Equity. This equation shows that what a business owns (assets) is funded through borrowing (liabilities) or owner contributions and profits (equity).
Assets: The first section lists all assets owned by the company. This includes your Cash and Bank, Other Current Assets, and Long-term Assets. Assets are organized from the most liquid, or most easily converted to cash, to the least liquid.
Liabilities: The second section lists all current and long-term liabilities. Liabilities are in order of shortest term to longest term.
Equity: The final section details the equity of the business. Depending on the business structure, this may include owner or partner equity, owner investment and draws, common stock, retained earnings, and additional paid-in capital.
Export the Balance Sheet
To export your profit & loss statement, at the top right corner, click Export, then select CSV or PDF format. The statement will download to your browser.
