Delighted to have you here, @d.paterson.
QuickBooks was designed to be a one-stop-shop for business owners, so I'm thrilled to share some information with you on how the Start Date on the Balance Sheet report works.
A Balance Sheet is a cumulative report that carries a beginning balance. The “Start Date” shares the same importance with the “End Date” displayed in your Balance Sheet report. This reflects the financial position of a company at a particular point in time. It shows the “time” at which the account values apply.
This is a valuable information to a financial institution who wants to determine whether a company qualifies for additional credit or loans. Others who would be interested in the balance sheet include current investors, potential investors, company management, suppliers, some customers, competitors, government agencies, and labor unions.
With QuickBooks Online, you can generate 4 different Balance Sheet Report.
For additional insights, you may check out these articles:
Don’t hesitate to swing by the Community again. I'm always here to help if you have follow-up questions about generating Balance Sheet report. Have a great day ahead!
ok, but the Start Date is not actaully driving anything on the report, thats my point, I could literally change it to anything and the data is the same on the report. So my question is - how is this date being used for the report?
Glad to hear from you again, @d.paterson.
Allow me to share additional information on how the “Start Date” that can be helpful to you.
The start date would be very helpful if you need to get the details of the transactions included on the report.
The Balance Sheet will show the same balance regardless of the start date you select. However, the moment you click the amount reflected on each item or account on the report you’ll be routed to a transactions report. It will only show all the transactions created within the selected date range.
This information is useful especially if the Balance Sheet is not showing a correct balance.
Feel free to leave a comment below if you have other questions about customizing your Balance Sheet report. I’m always here to help.
Hello there, Cici2.
The Starting date of the balance sheet is fixed and based on the account's beginning balance. The date range will reflect when you drill down to each account. I have a few screenshots below as an example on how the report period works.
You can also look into this reference for more details on how to manage your reports. Let me know if you need more help!