What this page is for
This report states what the business owns (Assets), owes (Liabilities) and is worth (Equity) as at a single date, and checks that assets equal liabilities and equity added together. Equity carries Retained earnings from earlier years and Earnings this financial year as two figures of its own, so the current year's result is visible before it is carried forward at the year's close.
Everyone whose role can view accounting sees this report.
How to…
How to run the report
Set As at, and Branch if you want just one branch's figures, then press Run report.
Worked examples
Supermarket
Tumaini Supermarket's accountant runs the balance sheet as at 30 September and confirms Total assets agrees exactly with Liabilities and equity.
Restaurant and bar
The Acacia Grill & Bar's owner checks the balance sheet after a good year and sees Earnings this financial year standing apart from the retained earnings carried from before, ahead of the year-end close that will fold it in.