A balance sheet is a snapshot of a business' financial
condition at a specific moment in time, usually at the
close of an accounting period. A balance sheet comprises
assets, liabilities, and owners' or stockholders' equity.
- From the Main Menu select Reports -> Ledger -> Balance Sheet. Your screen should look similar to this:
- Enter the financial period (year and month) for the balance sheet in the Year/Month
box.
- Check Summarized if you would like to see the balance sheet summarized (accounts grouped together as specified under the account entry).
- Check All Companies Together if you would like to see all your companies
or divisions together. If you use multiple companies, then leaving this unchecked produces a balance sheet for ONLY the current company.
- Check Trial Balance if you need a Trial Balance. A trial balance is a balance sheet as it would appear if all journals had been posted. -- A kind of pre-check that can be made before actually posting.
- Click the
 Next button. Your screen should look similar to this:
- Clicking on the highlighted amounts in the Account Balance column brings up an Account Activity report for the selected month.
- Click the
 Back button to return to the previous screen.
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