Balance Sheet
The balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time. It summarizes the company's assets, liabilities, and equity. Here's a user guide to understand the components of a balance sheet:
Total Assets: This represents the total value of all the assets owned by the company. It includes current assets, fixed assets, inventory, non-current assets, prepayments, and bank & cash.
Total Liabilities: This represents the total amount of the company's debts and obligations. It includes current liabilities and long-term liabilities.
Total Expenses: This represents the total expenses incurred by the company during a specific period. It includes operating expenses, administrative expenses, and other expenses.
Total Income: This represents the total revenue earned by the company during a specific period. It includes sales revenue, service revenue, and other sources of income.
Total Equity: This represents the residual interest in the company's assets after deducting liabilities. It includes owner's equity and retained earnings.
To view the balance sheet, select the desired date range (start and end dates) to generate the balance sheet for that period. The balance sheet will display the account names, respective amounts, and total amounts for each category.
The balance sheet provides valuable insights into the financial health and stability of the company. It helps stakeholders assess the company's liquidity, solvency, and overall financial performance.
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