Balance Sheet
The Balance Sheet shows a snapshot of your company’s assets, liabilities, and equity at a specific point in time. It is one of the core financial statements and is used to assess the financial health and net worth of your business.
Accessing the Balance Sheet
Section titled “Accessing the Balance Sheet”Navigate to Finance > Balance Sheet from the main menu.
Running a report
Section titled “Running a report”The Balance Sheet is an on-demand report. Configure the date and click Run to generate it.
- Set the As Of date (defaults to today).
- Click Run.
Metrics
Section titled “Metrics”Once the report is generated, the following totals are shown:
| Metric | Description |
|---|---|
| As Of | The date and fiscal year period of the report |
| Total Assets | The sum of all asset account balances |
| Total Liabilities | The sum of all liability account balances |
| Total Equity | The sum of all equity account balances |
If total assets do not equal total liabilities plus total equity, an imbalance warning is displayed. This indicates a data issue that should be investigated.
Report structure
Section titled “Report structure”The Balance Sheet is organised into three sections, each broken down by subsection:
Assets
Section titled “Assets”| Subsection | Description |
|---|---|
| Current Assets | Short-term assets expected to be converted to cash within a year (e.g. cash, bank accounts, accounts receivable) |
| Fixed Assets | Long-term assets such as equipment or property |
| Other Assets | Assets that do not fit the above categories |
Liabilities
Section titled “Liabilities”| Subsection | Description |
|---|---|
| Current Liabilities | Short-term obligations due within a year (e.g. accounts payable, tax liability) |
| Long-Term Liabilities | Obligations due beyond a year |
| Other Liabilities | Liabilities that do not fit the above categories |
Equity
Section titled “Equity”| Subsection | Description |
|---|---|
| Retained Earnings | Accumulated profits retained in the business |
| Common Stock | Invested capital |
| Other Equity | Equity items that do not fit the above categories |
A Current Year Earnings line is included in the Equity section, representing the net income for the current fiscal year as calculated by the Profit & Loss statement.
Bank balance vs journal balance
Section titled “Bank balance vs journal balance”Where a bank account is connected, the Balance Sheet may show two balances for that account:
- The journal balance — the balance calculated from journal entries in Acqui.
- The bank balance — the balance reported by the connected bank, shown in parentheses.
If these two figures differ, it indicates unreconciled transactions. Use the Banking page to review and reconcile outstanding items.