Balance Sheet
Assets, liabilities, and equity as of one date, nested by account group. Current-year profit is placed into equity automatically, so the sheet always balances without closing entries.
Questions It Answers
- What are total assets, liabilities, and equity at month end?
- Why does this year's profit already show in equity when the books are not closed?
- Why doesn't the balance sheet per division balance?
Filters
| Filter | What it does |
|---|---|
| Until Date | Position as of a date (up to and including). Empty means every journal up to today. |
| Division | Pre-filled from the user role's default division. A role locked to one division cannot change it. |
| Show Zero Balance | Off (default): accounts and groups with zero balance are hidden. On: every account shows, empty ones included. |
How To Read It
Three parts: Assets, Liabilities, Equity, each nested by account group with subtotals, then a Total Liabilities + Equity line.
| Column | Meaning |
|---|---|
| Assets | Debit - credit balance of each asset account up to the filter date. |
| Liabilities | Credit - debit balance of each liability account. |
| Equity | Capital account balances, plus current-year profit (loss): all revenue and expenses from 1 January of the filter date's year up to that date, posted to the division's retained-earnings account. |
| Comparative Balance Sheet | Second variant on the same menu: month-end balances of one year side by side (Year filter required). |
Why The Numbers May Differ
- Only approved journals count. Journals still awaiting approval (when journal approval is on) change no figure here.
- Current-year profit counts from 1 January of the filter date's year - a 31 December sheet carries a full year of profit, a 31 January sheet only January's; earlier years must already have been moved to retained earnings by year-end closing.
- A per-division sheet can be unbalanced when journals cross divisions (division A's cash pays division B's expense): the debit and credit sides sit in different divisions. The combined sheet (Division empty) always balances.
- The retained-earnings account is set on the Division master; a division without one has nowhere to put current profit and its equity looks short.
- Zero-balance groups are hidden - that does not mean the accounts are missing. Turn on Show Zero Balance to check.
Menu Location
- Finance / Reports & Analysis / Balance Sheet
/report/balancesheet