General Ledger - Balance Sheet

Function

This task provides a simple balance sheet. Subtotals are provided for assets, liabilities, and capital; and period retained earnings are calculated. Additional subheadings and subtotals may be defined by the Chart of Accounts Breaks task.

          => To access this task...
                     Select Balance Sheet from the Reports menu.

Balance Sheet

About the Fields

In the For Period field...

• Enter an accounting period.

The beginning and ending dates of the period will be displayed on the report. The balance will include all postings through the end of the selected period.

In the For Year field...

• Enter the fiscal year of the period.

Include Account Numbers checkbox...

• Mark the box to include the general ledger account numbers on the report.

• Unmark the box to print the statement without the account numbers.

Include Zero Balance Accts checkbox...

Only accounts with a zero balance for the entire selected year are considered zero balance accounts for this report. Note this is different from the General Ledger Trial Balance where accounts only needs to have a zero balance through the selected period to be considered zero balance accounts.

• Mark the box to include all GL accounts including zero balance accounts.

• Unmark the box to include only accounts with balances.

Align Fiscal Periods checkbox...

The checkbox is disabled if the fiscal calendars are the same, i.e. the periods are already aligned.

• Mark the box to re-align periods in a previous fiscal year to match the current fiscal year's calendar in order to facilitate comparative financial reporting.

• Unmark the box to perform no re-alignment.

Create Report

• Click to create the balance sheet.

• Click to save the current settings.

• Click  to clear the form.

Sample Balance Sheet Report

See Output Options.

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