Q1. What is a balance sheet?
The balance sheet is a financial statement that provides a snapshot of your organization's financial position at a specific point in time. It lists the company's assets, liabilities, and equity to show the net worth of the organization.
The balance sheet is crucial for assessing the company's financial stability and liquidity. Stakeholders use it to evaluate how well resources are being managed and the financial strength of the business.
Q2. How can I customize the date range for the balance sheet?
You can change the date using the date selector or use the predefined date ranges.
Q3. What currency is the balance sheet in?
By default, the balance sheet will display values in your organization's base currency.
You can change the display currency of the balance sheet to other currencies that have been set up in your organization. For more information about setting up other currencies, refer to Accounting.
Q4. How can I see the exchange rates being used in calculations?
At the bottom of the page, click on See All Rates.
You will be shown a list of all exchange rates used to convert foreign currency transactions back to the organization's base currency.
Other information include the date of the exchange rate, as well as the rate type.
Q5. Can I download the balance sheet?
Yes, you can download the report in Excel or PDF formats.
See below for an example of the downloaded file.
Q6: Can I add notes to my balance sheet?
Yes, enable Print Report Notes in Options to add and format notes below the report. These notes will be included in the exported report.
Q7. Is it possible to include exchange rates in my balance sheet?
Yes, enable Print Exchange Rates in Options to display them below the report. They will also appear in the exported report.