Balance Sheet
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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 in Edit nominals.
Running the report
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Go to Home > Reports > Financial, then select Balance Sheet.
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Select the Time period and End date.
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Select if you want to Include opening balance.
The figures will update according to your selections.
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Any comments added will be available while you are preparing the report and will appear on the downloaded or printed reports, however, they will not be stored in IRIS KashFlow to refer to at a later stage.
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You can download a CSV copy, Print, or Email the report.
To download the report in PDF format, you can select Print, then the download icon.
Report settings
You can update the content settings and layout of the report in Settings. Any changes made here will apply to Balance Sheet, Aged Creditors, Profit and Loss, and Trial Balance reports.
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.
Edit nominals
All items listed here are nominal code accounts that are in your Chart of Accounts. You can access these by selecting the three dot icon, then 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.