A Statement of Financial Position, commonly known as a Balance Sheet, is a financial report that provides a snapshot of an organisation's financial standing at a specific point in time. It summarizes the company's assets, liabilities, and equity, illustrating how resources are allocated and financed within the business. The structure of the Statement of Financial Position is based on the accounting equation: Assets = Liabilities + Equity.
Navigation: Main Menu > Accounting > Financials > Menu (button) > Statement of Financial Position.
Table of Contents
Navigate to Main Menu > Accounting > Financials.
Select Menu (button) > Statement of Financial Position.
Navigate to the Set (filter) near the top left of the module, then click the drop down and select your Date.
Note: Although you can select any date, you will get a more complete result by selecting the last day of the month.
Click View (button).
Note: Balance should always be zero. If it is not zero, there is a problem with your data that should be investigated.
Click View (button) to display the Statement of Financial Position.
Select Menu (button) > Click Hide Decimal Values.
Click View (button) to display the Statement of Financial Position.
Double-click on an Account to open the Detailed Ledger.
Tick Show All Accounts (check box).
Note: Displays all the accounts created when the organization was set up. It will include accounts with zero balances.
Select View (button).
Navigate to the % (filter) above Show All Accounts (check box).
Select the drop down and pick the desired view.
Select View (button).
Navigate to the Budget (bar).
Select the drop down and pick the desired budget.
Select View (button).
Select Output (button) > Preview / Print / Email > Select the Output Template (if applicable).
Click Reset (button) to reset the filters.