Balance sheet
Assets against liabilities and equity as of a date, with the year's profit to date carried into equity and a check that the two sides agree.
Balance sheet
What the promoter company owns (assets) against what it owes (liabilities) and its equity, as of a date. The year's profit or loss up to that date is shown as a line in equity, so the two sides agree.
Where to find it
Open Accounting > Reports in the sidebar and choose the Balance sheet tab. You need the View permission on Reports and on Books, as described on the Ledger report. The Books switcher at the top right chooses the books.
Before you start
The fiscal year's Opening balances must balance, or the sheet won't.
What you see
Filters across the top:
- Fiscal year: starts on the year that holds today.
- As of: the date of the balance sheet, inside the chosen year. It starts on today; picking a past year sets its last day.
- Include zero rows: also list groups and ledgers with a zero balance.
A summary line reads "FY <name> · as of <date>", with a badge:
- Balanced (green) when assets equal liabilities plus equity;
- "Difference <amount>: check opening balances" (red) otherwise.
Three tables, each listing groups with their ledgers indented underneath, each with its code and Amount:
- Assets, ending with Total assets;
- Liabilities, ending with Total liabilities;
- Equity, with an extra row "Profit & Loss for the period (<FY>)", ending with Total liabilities and equity (liabilities, equity and that profit together).
Ledger names link to the Ledger report. A table with nothing in it reads "Nothing in this range."
A buyer's ledger (a CUST- party ledger) that is in credit on the As of date, because money was received ahead of billing, is not netted against the other receivables: it is listed at zero under Assets and its credit is added to 2120 Advances from Customers - Unapplied under Liabilities.
What you can do
Export CSV
Downloads all three sides with the columns Side, Kind, Code, Name and Amount, including the profit row.
- When it's greyed out: until the report has loaded.
Things to know
- How the figures are worked out. Each ledger's balance runs from the start of the fiscal year (its opening balance) to the As of date. The profit line is income minus expense from the start of the year to that date.
- Customer advances are regrouped, not reposted. The move of credit-balance buyer ledgers to 2120 Advances from Customers - Unapplied is a presentation rule of this report (Ind AS 115 / Schedule III); no voucher is posted, the Ledger report and the Trial balance still show the credit on the buyer's own ledger, and the two sides still agree. It applies to the ledgers of people only (buyers), not to society members' or companies' ledgers, and only while the books hold an active ledger copied from template 2120; without one nothing is moved. What is billed ahead of revenue, as opposed to received ahead of billing, sits in the contract liability ledgers (2100, 2110, 2115) and is explained on Contract balances.
- The same before and after a year close. The closing journal is left out and the profit is worked out instead, so the sheet reads the same whether or not the year has been closed.
- Why it can show a difference. Every posted voucher balances, so a difference comes from the opening balances brought forward. Check them on Opening balances.
- One fiscal year at a time. A date outside the chosen year is refused with "The range must lie inside fiscal year <name>".
- Ledger links for past years. A ledger link opens the ledger report up to the As of date, but from the start of the current fiscal year. For a past year that shows "date_to is before date_from"; set From to the start of that year.
Related
Related
- Profit & lossScreen
Income against expense for a range inside one fiscal year, with gross profit, net profit or loss, and CSV export.
- Trial balanceScreen
Opening, period debit and credit and closing per ledger or per group for a fiscal-year range, on a grid you can sort, resize and filter by column, with the report's totals in the footer and CSV export.
- Ledger reportScreen
The ledger of one account between two dates: opening balance, every posting with a running balance, and closing balance, with CSV export.
- Opening balancesScreen
The balances brought forward into a fiscal year, one amount and side per ledger, typed in one table and saved as a whole, with running debit and credit totals.
- Fiscal yearsScreen
The fiscal years of a set of books with their 12 monthly periods: lock or unlock a month, open the next year, and close or reopen a year at year end.
- LedgersScreen
Every ledger of the chosen set of books, as a grouped tree or a flat list, with the actions to add ledgers and party ledgers, edit or retire them, and open a ledger's report.
- Contract balancesScreen
The Ind AS 115 contract-balances disclosure per project over a period: contract liability, contract asset and contract acquisition costs rolled forward from the ledger, with the revenue recognised in the period and how much of it came out of the opening liability.
- Revenue runScreen
One period close: what each booking and member offer recognises, the journals and cost moves it posts, the subjects it left out, and the actions to recompute, post, reverse or delete it.
- Fiscal years, periods, locks, opening balances and the year-end closeConcept
Each set of books runs in fiscal years of twelve monthly periods; a voucher can post only into an open year and an unlocked period, opening balances carry each ledger's balance into a year, the year-end close moves income and expense into Profit & Loss Account by a closing journal and writes the next year's openings, and a monthly balance cache is kept as a cross-check.
- Close a fiscal yearHow-to
Review the year's profit and loss and balance sheet, open the next year, clear the draft vouchers, then close the year so income and expenses move into Profit & Loss Account and the closing balances become the next year's opening balances.
- "Not balanced: check opening balances": the trial balance or balance sheet shows a differenceTroubleshooting
Posted vouchers always balance, so a gap on the trial balance or balance sheet comes from the opening balances typed for the year; balance them on the Opening balances tab, then rebuild the period cache so Period balances agree.
- Report refuses the date range, or shows nothing for itTroubleshooting
Reports read posted vouchers between two dates: From must not be after To, the year-based reports keep the range inside one fiscal year, and an empty result usually means the range, the filters or a draft that was never posted.