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Balance Sheet

The balance sheet answers one question: what does the company own and owe as of a given date? Assets on one side; liabilities and equity on the other. It’s the snapshot your bank, your accountant, and the year-end financial statements are built on.

Go to General Ledger → Reports → Balance Sheet (requires the balance sheet permission).

Choosing dates

Choose a Period Type — Current, Monthly, Quarterly, Yearly, or Custom — and the As Of date(s) you want. The report always shows the position as of each date, so a date of 31.12.2025 means “the books at close of that day”.

The real strength is comparison: Add Date adds another date as a side-by-side column, stepping back by the interval you chose — a year on Yearly, three months on Quarterly, one month on Monthly. Pick Quarterly and click Add Date three times to line up four quarter-ends, or compare year-end against today. Switching the period type resets your date list; individual dates can be deleted again.

If you use departments or projects, you can filter by them too (including an “Overall” total). When comparing across one dimension, the other dimensions are limited to a single selection — the report tells you which.

Two display options round it off: Show Account Numbers (on by default) and GIFI, which regroups the report by GIFI codes instead of your standard chart. Then click Generate Report. The report remembers your dates, period type, display options and variance settings in the browser you use; Department and Project selections are chosen fresh each time.

Reading the report

  • Assets — what the company owns: cash and bank balances, money customers owe you, equipment.
  • Liabilities — what the company owes: supplier bills, loans, VAT due.
  • Equity — the owners’ share: capital plus accumulated profits.

Inside the Equity section, Current Earnings is the year-to-date profit or loss not yet posted to the equity accounts — it’s what keeps the sheet balanced mid-year, and it moves into retained earnings when you close the year.

Total Assets always equals Total Liabilities + Equity — that’s what “balance” means. If you’re presenting the numbers, the interesting stories are usually in the movements between dates: cash trending down, receivables piling up, a loan being paid off.

Working with the results

  • Show Variance and Show Variance (%) add VAR / VAR % columns; a dropdown picks which two date columns to compare — the fastest way to see what changed between two dates.
  • The collapse control switches between Expand All and Level 1…N, folding the report to headings only for a management summary or all the way out for the full account detail. Sections (Assets / Liabilities / Equity) and heading rows collapse individually too.
  • Print produces a PDF, Export an Excel file. The PDF follows your collapse level — set Level 1 first for a one-page management summary; the Excel file always contains the full account detail.

Every amount on a detail row is a link: click it to open the account ledger for that account and period and see the postings behind the figure.