The Balance Sheet report provides a snapshot of your firm's financial position at a specific point in time. It summarizes your assets, liabilities, and equity, giving you a clear view of your firm’s financial health. This report is especially useful for internal reviews, preparing financial statements, or sharing data with your accountant.
Before generating a Balance Sheet report, please confirm the following:
Ensure your Operating Accounting has been set up and fully onboarded.
Verify that all relevant payments and journal entries have been entered and correctly categorized.
.Access the Balance Sheet report using the following steps:
Navigate to Reports > Accounting to view the list of Operating Accounting reports.
Select Balance Sheet from the list.
The Balance Sheet will display current year-to-date balances by default, reflecting financial position as of the selected end date.
Using Filters
Use the Report Period dropdown or manually change the Start Date and End Date, then click Apply to refresh the report.
Use the Compare Another Period dropdown to view changes across multiple time periods (e.g., current vs. prior year).
An additional column will appear to the right with the balances you wish to compare.
Use the Display columns by option to change the layout of your results to include additional columns for Month, Quarter or Year.
Choose to show only active rows and columns, or include all rows and columns, including those with zero balances.
To show Trust Account balances as assets and liabilities in the Balance Sheet, enable the Show Trust Account(s) filter.
Print and Export
To generate a PDF version of the report, click the Print icon.
This will download a PDF file for your review.
To export the report as an Excel (.xlsx) file, click the Export icon
This will download an Excel file for your review.
