|
|
|
Balance Sheet Summary
Balance Sheet Summary shows the financial position of a business on a specified date.
The Balance Sheet Summary provides a list of assets that a business owns, the liabilites that are owed to creditors, and the proprietor's equity interest.
To open this report select Reports / Company and Financial / Balance Sheet Summary from the Free Accounting menu.
Choose the parameters for the report:
- select the date including which the balance will be formed.
- check the Show Posted checkbox to view the balance formed with posted entries only.
The Balance Sheet Summary reports the results of all the financial activities of the business since its formation.
It represents a detailed presentation of the accounting equation. The total value of the business's assets must be in agreement with the total value of the liabilities and the capital (total equity) of business.
The structure of the Balance Sheet Summary is not enlarged. It presents the general view of accounts grouped by their belonging to assets, liabilities and equity, without details.
|
Balance Sheet Standard
The Balance Sheet Standard shows the financial position of a business on a specified date. It brings the same information as the Balance Sheet Summary in detail.
The Balance Sheet Standard provides a detailed listing of various assets that a business owns, the liabilites that are owed to creditors, and the proprietor's equity interest.
To open this report select Reports / Company and Financial / Balance Sheet Standard from the Free Accounting menu.
Choose the parameters for the report:
- select the date including which the balance will be formed.
- check the Show Posted checkbox to view the balance formed with posted entries only.
The Balance Sheet Standard reports the results of all the financial activities of the business since its formation.
It represents a detailed presentation of the accounting equation. The total value of the business's assets must be in agreement with the total value of the liabilities and the capital (total equity) of business.
The structure of the Balance Sheet Standard is more enlarged than the Balance Sheet Summary.
It presents the general view of the accounts grouped by their belonging to assets, liabilities and equity, without details.
|
Balance Sheet Detail
Balance Sheet Detail shows the financial position of a business within the fixed date range.
It brings the same information as the Balance Sheet Summary and Balance Sheet Standard but detailed with transactions that took place within that period of time.
The Balance Sheet Detail provides the information detailed with transaction listing of various assets that a business owns, the liabilites that are owed to creditors, and the proprietor's equity interest.
To open this report select Reports / Company and Financial / Balance Sheet Detail from the Free Accounting menu.
Choose the parameters for the report:
- select Date From and Date To - to set the range the report will be created to.
- check the Show Posted checkbox to view the balance formed with posted entries only.
The Balance Sheet Detail reports the results of all the financial activities of the business since its formation.
It represents the detailed presentation of the accounting equation. The total value of the business's assets must be in agreement with the total value of the liabilities and the capital (total equity) of a business.
The structure of the Balance Sheet Standard is more enlarged than the Balance Sheet Summary and Balance Sheet Standard.
It presents the transactions that were made and which are grouped by accounts.
In the column Amount there is a dollar amount of a transaction. Balance column displays the track of changes after each transaction was made.
|
|
|
