A balance sheet report gives a financial snapshot of your company as of a specific date. It calculates how much your business is worth (your business's equity) by subtracting all the money your company owes (liabilities) from everything it owns (assets):
Assets - Liability = Equity
The total for equity includes your company's net income for the financial year to date.
Run the report for non-Limited/Incorporated companies
- Go to Reports.
- On the Recommended tab, select Balance Sheet.
Run the report for limited companies
- Go to Reports.
- On the All Reports tab, select Business overview, then Balance Sheet (Schedule VI).
To see a higher level summary, run the Balance Sheet Summary report instead.
