Balance Sheet
Read assets, liabilities, and equity, and understand the limits of a dated snapshot.
Review the balance sheet
- 1
Open Balance Sheet.
Select the report and choose As of Date.
- 2
Read Assets.
Review bank balances, accounts receivable, and inventory on hand where shown.
- 3
Read Liabilities.
Compare accounts payable with supplier bills and recorded payments.
- 4
Read Equity.
Review retained earnings and Owner Capital / Adjustments. This adjustment line helps explain how the displayed totals relate.
- 5
Export and compare.
Download the PDF and compare individual lines with your supporting records.
Understand what the date means
The selected date filters dated activity such as bank transactions and document dates. In the current version, inventory valuation uses current quantity and cost, and outstanding amounts use the payment values currently saved on documents. A backdated report may therefore differ from a complete historical snapshot.
Owner Capital / Adjustments is calculated to reconcile the displayed balance. Matching totals alone do not establish that all entries, opening balances, or historical figures are correct. Review the source records when using the report for a formal review.