How to View Your Balance Sheet
Background
A balance sheet gives you a snapshot of a company’s financial position on a single date. It captures what the business owns, what it owes, and the value left over for the owner, all frozen at that moment. This report lays out assets, liabilities, and equity in one place, making it a key measure of your business’s financial health. Owners often use it to calculate financial ratios or compare different periods to spot trends. Lenders may also ask for a balance sheet when you apply for a loan. For more detail, check out our blog article on understanding your business balance sheet.
How to View Your Balance Sheet
- Go to Reports > Financial Reports > Balance Sheet
- The “Balance Sheet as of” date will default to today’s date. Change the date, if needed.
- Select either “Cash/Modified Cash” or “Accrual” for the Accounting Basis, depending on which accounts you want to view.
- Click “Run Report.”
- Click the “Compare Report” link at the top of the report to view comparison data on the Balance Sheet Report.
- You can compare data from the previous period, the previous year, or a custom date.
- Accounting Drill-down Reporting: Easily drill down directly inside the report to see details without leaving the page.
- Click each entry on the report to open a panel on the right side of the page.
- The panel displays the details of each transaction that makes up the total balance.
- Click “Go to Full Report” to go to the General Ledger report with the same filters.
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