25 Balance Sheet - Revision history

Simon Clive at 23:50, 25 September 2011

2011-09-25T23:50:08Z

Simon Clive at 23:49, 25 September 2011

2011-09-25T23:49:45Z

Simon Clive at 23:48, 25 September 2011

2011-09-25T23:48:24Z

Simon Clive: Created page with "Balance Sheet Report Run a Balance Sheet report from the main screen? Run a Balance Sheet report from the report selector? These reports are situated within the accounts modul..."

2011-06-27T05:55:02Z

Created page with "Balance Sheet Report Run a Balance Sheet report from the main screen? Run a Balance Sheet report from the report selector? These reports are situated within the accounts modul..."

New page

Balance Sheet Report

Run a Balance Sheet report from the main screen?
Run a Balance Sheet report from the report selector?

These reports are situated within the accounts module and you will locate the Buttons right next to the Profit and Loss
button within the main screen. Or you can access them in the same way as the P & L Report. You just need to select the
report that you wish to view and print.

To drill into these reports, double click on the values you wish to view and this will take you to the transaction list that make
up the report. Then double click again and this will enable you to view the actual transactions.

Definition

A balance sheet is a statement of the total assets and liabilities of an organisation at a particular date - usually the last date
of a financial or accounting period.

The balance sheet is split into two parts:

(1) A statement of fixed assets, current assets and the liabilities (sometimes referred to as "Net Assets")

(2) A statement showing how the Net Assets have been financed, for example through share capital and retained profits.

Legislation requires the balance sheet to be included in the published financial accounts of all limited companies. In
reality, all other organisations that need to prepare accounting information for external users (e.g. charities, clubs, partnerships)
will also product a balance sheet since it is an important statement of the financial affairs of the organisation.

A balance sheet does not necessary "value" a company, since assets and liabilities are shown at "historical cost" and some
intangible assets (e.g. brands, quality of management, market leadership) are not included.

How to use the Balance Sheet

• Select the Accounts tab
• Select the Balance Sheet button
• The Balance Sheet Report will display

Set Date

Select the 'As of' date you require (top right)

Set Departments

A Balance Sheet can be obtained for each or all departments or Cost Centres within your Company Database. The Balance Sheet will open
by default to display "All" Departments (Cost Centres).

Un-tick the "All" field to select a specific "Department" (Cost Centre) for your Balance Sheet Report, if required.

Drilling into the Balance Sheet

The Accounts that appear in the Balance Sheet that display an Account Balance (Accounts that are not Header Accounts),
can be drilled into, to reveal further detail. This will open the Balance Transaction List of the related transactions pertaining to
that Account.

Refresh

The Refresh button will refresh and update the page with the latest information available. This is important if other users have
entered transactions into your ERP database while you have your Balance Sheet open.

@@ Line 1: / Line 1: @@
 '''Balance Sheet Report'''
-Run a '''Balance Sheet '''from the'''Report Selector '''menu or from the '''Accounts''' Module?
+Run a '''Balance Sheet '''from the '''Report Selector '''menu or from the '''Accounts''' Module?
 *Select the '''Accounts''' module and then the '''Balance Sheet''' button within the main screen

@@ Line 1: / Line 1: @@
 '''Balance Sheet Report'''
-Run a '''Balance Sheet''''''Report Selector''' menu or from the '''Accounts''' Module?
+Run a '''Balance Sheet '''from the'''Report Selector '''menu or from the '''Accounts''' Module?
 *Select the '''Accounts''' module and then the '''Balance Sheet''' button within the main screen
 *You can also access this report by selecting the '''Accounts Reports''' button to open the '''Report Selector.'''
 *Select the '''Accounts Radio Button''' then double click '''Balance Sheet'''
 '''N.B.''' The '''Report Selector''' can be opened from '''Any Module''' or by clicking on the '''Reports''' button at the bottom of the '''Main''' '''Screen'''.
 '''Definition'''
 A '''Balance Sheet''' is a statement of the total '''Assets''' and '''Liabilities''' of an organisation at a particular date - usually the last date of a financial or accounting period.
@@ Line 19: / Line 19: @@
 (2) A statement showing how the '''Net Assets''' have been financed, for example through share capital and retained profits.
 Legislation requires the '''Balance Sheet''' to be included in the published financial accounts of all limited companies. In reality, all other organisations that need to prepare accounting information for external users (e.g. charities, clubs, partnerships) will also product a '''Balance Sheet''' since it is an important statement of the financial affairs of the organisation.
 A '''Balance Sheet''' does not necessary "'''Value'''" a company, since assets and liabilities are shown at "'''Historical Cost'''" and some intangible assets (e.g. brands, quality of management, market leadership) are not included.
@@ Line 25: / Line 25: @@
 *To open the '''Balance Sheet''' Select the '''Accounts''' Module
 *Select the '''Balance Sheet''' button and the Balance Sheet will display
 *Select the '''As Of Date''' you require from the '''Drop Down'''<br>
 *Select the '''Department''' button to open a list of Departments or tick&nbsp; '''All''' as the&nbsp; Balance Sheet can be obtained for each or all departments or Cost Centres within your Company Database.
 *By default the Balance Sheet will open to display '''All Departments''' (Cost Centres).
 *To '''Drill Into''' these reports, double click on the '''Values''' you wish to view and this will take you to the '''Balance Transaction List '''that makes up the report. <br>
 *Then double click again and this will enable you to view each '''Individual Transaction. '''
 *Select the '''Refresh''' button which will refresh and update the page with the '''Latest''' information available. This is important if other users have entered transactions into your ERP database while you have your '''Balance Sheet''' open.