Print a Balance Sheet.

Print a Balance Sheet.

Print a Balance Sheet

The  Balance Sheet  report/statement is also known as an  Assets and Liabilities  report. 
 
The  Net Worth  report lists the assets, liabilities and owner's (stockholders') equity as a specific point in time.
  • Assets : are the things that the company owns. (e.g. Cash, Accounts Receivable, Land, Buildings, Equipment, Investments, etc.)
  • Liabilities : are amounts owed to creditors. (e.g. Accounts Payable, Salaries/Wages payable, Interest Payable, loans, etc.
  • Owner's Equity : is equal to the reported asset amounts minus the reported liability amounts. (i.e. Owner's Equity = Assets - Liabilities)
This report is also referred to as the Statement of Financial Position. It shows what a company owns as well as what it owes to other parties, as at the date the report is run.
 

Step 1. To print an Asset and Liabilities report:

Click on the   Reports  >  Financials  >  Assets and Liabilities   menu option
 

Step 2. In the Statement of Assets and Liabilities window:

  • Statement as at:  select the ending date for the report which must be within the current financial year.
  • Tick the  Include Account Codes  check box if you require account codes printed alongside the account description.
  • Tick the  Include Comparatives  check box, if you require the opening balances for assets and liabilities to print alongside the balances as at the selected report date.
  • Tick the  Detail Sub-accounts  check box, if you require individual sub-account totals printed.
  • Tick the  Include Reporting Group  subtotals if you require sub-totals on reporting groups.
  • Report Type 
    - select either: 

    • Cash -  Cash accounting is where income is recognised at the point of receipt and expenses are recognised at the point where they are paid.
    • Accrual  - Accrual accounting is where income is recognised when earned and expenses recognised when they are incurred
  • Click on the   Print  button to bring up the report in screen preview mode - click the printer icon to print the report.


Article ID 1683