Balance Sheet Reporting for Small Businesses
Review assets, liabilities and equity at a reporting date and export a balance sheet based on saved Accounts journals.
Open the balance sheetSet the reporting date
A balance sheet captures a position at a point in time. Select the date and currency, then reconcile cash, receivables, payables and stock to their supporting records.
Check the accounting equation
If recorded assets are USD 8,000 and liabilities are USD 3,000, equity is USD 5,000. Investigate balances that differ from your supporting schedules.
Keep a review trail
Retain the exported report and the underlying period records for a reviewer.