Description:
A balance sheet is a statement of the financial position of a business that lists the assets, liabilities and owner's equity at a particular point in time. In other words, the balance sheet illustrates your business's net worth.
The balance sheet may also have details from previous years so you can back-to-back comparison of two consecutive years.
This data will help you track your performance and will identify ways to build up your finances and see where you need to improve.
You can also use the balance sheet to determine how to meet your financial obligations and figure out the best ways to use credit to finance your operations.
The balance sheet is the most important of the three main financial statements used to illustrated the financial health of a business. The other two are, the income statement and the cash flow statement.
All accounts in your general ledger are categorized as an asset, a liability or equity. The relationship between them is expressed in this equation: Assets = Liabilities + Equity
Reference: https://www.thebalancesmb.com/balance-sheet-definition-2946947
The report was designed in such a way to present in various of Grouping Option:
1. This Year Only
2. Last Year Only
3. This Year vs Last Year
4. This Month Only
5. This Month and This Year
6. This Month vs Last Month
7. This Month vs Last Month and This Year vs Last Year
8. Months Comparison
9. Years Comparison
10. This Year vs Months Comparison
11. This Year vs Location
12. This Month vs Location
13. This Year vs Job
14. This Month vs Job
15. This Year vs Department
16. This Month vs Department
The report came with 2 default formats:
1. Balance Sheet Listing: Vertical designed with total 4 columns of presentation. Suitable for Grouping Options that have lesser column output. Such as Grouping Options: 1 to 7.
2. Balance Sheet Listing - 13 Columns: Horizontal designed with total 6 columns of presentation. Suitable for Grouping Options that have potentially more column output. Such as Grouping Options: 8 to 16.
Grouping Option: 1. This Year Only
Grouping Option: 2. Last Year Only
Grouping Option: 3. This Year vs Last Year
Grouping Option: 4. This Month Only
Grouping Option: 5. This Month and This Year
Grouping Option: 6. This Month vs Last Month
Grouping Option: 7. This Month vs Last Month and This Year vs Last Year
Grouping Option: 8. Months Comparison
Grouping Option: 9. Years Comparison
Grouping Option: 10. This Year vs Months Comparison
Grouping Option: 11. This Year vs Location
Note: The location filtering would be applied for this grouping option. You may filtered the desirable location list to present in this report (Due to the limitation of report layout width, therefore please generate the report by segregated to different locations if you'd more locations)
Grouping Option: 12. This Month vs Location
Note: The location filtering would be applied for this grouping option. You may filtered the desirable location list to present in this report (Due to the limitation of report layout width, therefore please generate the report by segregated to different locations if you'd more locations)
Grouping Option: 13. This Year vs Job
Note: The job filtering would be applied for this grouping option. You may filtered the desirable job list to present in this report (Due to the limitation of report layout width, therefore please generate the report by segregated to different jobs if you'd more jobs)
Grouping Option: 14. This Month vs Job
Note: The job filtering would be applied for this grouping option. You may filtered the desirable job list to present in this report (Due to the limitation of report layout width, therefore please generate the report by segregated to different jobs if you'd more jobs)
Grouping Option: 15. This Year vs Department
Note: The department filtering would be applied for this grouping option. You may filtered the desirable department list to present in this report (Due to the limitation of report layout width, therefore please generate the report by segregated to different departments if you'd more departments)
Grouping Option: 16. This Month vs Department
Note: The department filtering would be applied for this grouping option. You may filtered the desirable department list to present in this report (Due to the limitation of report layout width, therefore please generate the report by segregated to different departments if you'd more departments)
