Balance sheets – for a set date
Balance sheet reports are accessible from the main menu, from Reports > Balance Sheets.
The facility exists to do a balance sheet report, for the end of any month, or for one financial year or to compare two financial years. Other uses are discussed later.
In the example below, you are comparing the balance at two dates, namely the 30th of June, twelve months apart.
You can adjust the results using the Summarise and Compare lists at the top of the report.
Summarise – lets you select the date range for which you would like to display information. You can select a specific date range (By Date), or For Month or as above To End of.
Compare – allows you to select a number of comparison options. You can compare your current report By Date, For Month or To End of a time period.
Show Headers – Click on this to show reports by headers, as well as categories. You can click on individual headers to reveal the underlying categories.
Sort by $ total or Sort by name are the two options.
At The End Of means a statement of the financial position at the given date.
Increase in Net Equity- means how much your net assets or worth has increased or decreased ( in this case over the twelve month period.)
Searching by Filters
Note: Filters are only available in a fully active Small Business Edition but will show in the trial version.
Filters allow you do do a balance sheet for a specific account or account group, and disregard transactions in other accounts in your database.
Otherwise, a balance sheet will comprise all your accounts for the search period.
Filters are available wherever you can see the [+] in white or [+] symbol in major reports. The [+] symbol indicates that a filter is in use , with the type of filter appearing, in red, in the status bar of the relevant window.
In Balance Sheets, you can choose to filter by the available accounts. No filtering by job is possible for balance sheets.
Other ways to use the balance sheet reporting facilities – for comparisons.
Apart from producing a standard balance sheet report, you can also use the balance sheet search facilities, to quickly assess how your finances are faring by doing a comparison between two dates.
If you have imported all your transactions, running the Balance Sheet Report and seeing your Net Equity allows you to immediately see whether you are making or losing money. You do not have to categorize your transactions to do this report.
You can also run comparisons such as the figures from this month versus last month, or April this year, against April last year.
