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Viewing Your Balance Sheet in Patriot Software

Background: Your small business balance sheet

A balance sheet summarizes the assets, liabilities, and equity of the organization at a specific point in time. One of the most important financial statements for your business, the balance sheet shows what the business owns and what it owes, and can be used as a gauge of the company’s financial health. An owner may use this report to calculate small business financial ratios that help determine financial performance or compare to previous periods to discover trends. A banker may request to view your balance sheet if you apply for a loan. For further reading, see our blog article about your business balance sheet.

How to view your Balance Sheet in Patriot’s Accounting Software

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.”

To view comparison data on the Balance Sheet Report, click the “Compare Report” link at the top of the report. You can compare data from the previous period, the previous year, or a custom date. After you select your desired date range, click the “Compare” button.

Accounting Drill-down Reporting: Tired of being on a page, having to navigate to a new one, then needing to go back to the first page? With our drill-down reporting, you don’t have to. 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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