Balance sheet report
The Balance Sheet is a critically important report for a business. It is a record of the company’s Assets, Liabilities, and Capital & Reserves. It can identify financial strength and the capabilities of a business.
In IRIS KashFlow, the Balance Sheet is made of Fixed Assets, Current Assets, Current Liabilities and Capital & Reserves. Read Manage your chart of accounts for more information. These can be configured by clicking Edit Nominals in the top right corner.
Running the Report
-
Go to Home > Reports > Financial then select Balance Sheet.
-
Select End Date to adjust the date you would like the report to run up until. Alternatively, select from the menu to select one of the following options: Today, Last Week, Last Month, Last Year, Last Accounting Period.
-
Select Run.
Understanding the Balance Sheet
The balance sheet is made up of your Fixed Assets, Current Assets, Current Liabilities and Capital & Reserves. The Fixed Assets + Current Assets less Current Liabilities must equal your Total Capital & Reserves.
The Notes section is provided where you can leave any relevant comments. These will be saved while you are preparing the report and will appear on the exported CSV or PDF file, though they will not be stored in IRIS KashFlow to refer to at a later stage.
The figures can be downloaded as a PDF or CSV file by selecting Export. You can also email the report to your client or print the file.
To alter the layout of the Balance Sheet select Customise. You may also upload your company logo which will appear on the printed report.
Modifying what is displayed on the Balance Sheet
All items listed here are nominal code accounts that are in your Chart of Accounts which can be accessed by selecting Edit Nominals.
Nominal Codes are always either Balance Sheet items or Profit and Loss items. You can choose where to show the nominal code by using the selectors under Type.