Balance Sheet

A balance sheet is a financial statement that reports the company's assets, liabilities and equity balances at a given month and fiscal year.  This financial statement provides a snapshot of what a company owns and owes, as well as the owner's investment.  The balance sheet must always balance the Assets with liabilities and equity (Assets = liabilities + equity + net income of the P&L statement).

The financial account grouping and labels are determined by the configuration of the chart of accounts.  Review Chart of Accounts > Folders for more details on configuration of groups or changing labels.

Open the balance sheet reports by selecting File > Reports from the main EBMS menu and then opening Financials > Balance Statements as shown below:

Select Balance Sheet for a typical comparison balance sheet at shown below:

Review the Balance Sheet 12 Month Comparison and Balance Sheet 8 Year Comparison for multiple period comparisons to determine trends.