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Understanding the Balance Sheet Report

The Balance Sheet gives you a snapshot of your business's finances as of a specific date. It calculates your business's worth (equity) by subtracting what you…

Steps

  1. Go to Reports, then click View report under Balance Sheet.
  2. Choose the as-of date or date range you want the snapshot calculated for.
  3. Choose an accounting basis (Real Time, Accrual, or Cash Basis) and click Update Report.
  4. Review the Assets, Liabilities, and Equity sections, each broken down by account.

Good to Know

Related Articles

  • Understanding the Profit & Loss Report
  • Understanding the Cash Flow Report

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