Using the Balance Sheet Report

This screen is displayed by tapping Balance Sheet in the Easy Books menu. The screen runs a balance sheet report for your business. From this screen, you can

  • Change the date of the report.
  • Add another date to the report as a comparison.
  • Send the report by email, print it or open it in another app.
What does the report show?

The balance sheet is a financial statement that lists the assets, liabilities and shareholders' equity for your business at a specific date. The intention is to show what the business owns and owes, as well as the amount invested by the business owners.

The balance sheet follows the formula:

Assets = Liabilities + Shareholders' Equity

Easy Books splits assets into current and fixed assets. Current assets are the more financially liquid or the two, such as cash in the bank, money owed to you by your customers and any stock. Fixed assets are more long-term, such as buildings, fixtures and fittings, IT equipment and so on.

The Net current assets (liabilities) figure (sometimes called working capital and current capital) shows the difference between the more liquid assets and liabilities and is a good indication of how much money the business has to finance it's day to day operations.

How does Easy Books pick the initial date for the report?

The Next P&L Consolidation date from your Business Settings is used as the date of the report. If this date has not yet passed, the reports uses current date instead.

How do I view a previous year's report?

Use the back and forward buttons to change the report date quickly to the previous or next financial period. The report will run for the last date of the financial period selected.

Options in the settings Menu:

  • Change Date - You can set the date to run the report for a different point in time.
  • Add Comparison - Add a comparison report using this option. This is typically used to compare accounts from one financial year with another.
  • Comparison Date - You can set the date to run the comparison report for a different point in time.
  • Show Contained - If you have any accounts under a container account, only the total for the container is presented in the report. Use this option to show all the individual accounts. For information about container accounts, see Account Settings.

Options in the action Menu:

This button is used to send or print the report. It uses the standard Apple sharing panel and allows you to send the report by email or AirDrop, print it to an Airprint-compatible printer or send it to another app such as Dropbox. Three file formats of the report are available.

  • As shown (HTML) - The HTML format will open in a web browser.
  • Comma separated (CSV) - The CSV format contains the same information and is more suited to importing into a spreadsheet.
  • Both (ZIP) - The ZIP format contains both the HTML and CSV files compressed into a single zip file.