Choose the date
The income statement tells what happened over a period; the balance sheet is a picture of one day. Open Reports, then Balance sheet, enter As of and press Run.
Its rule is assets = liabilities + equity. Everything you own was funded either by debt or by the owners' money. That is why Balanced (2) appears.
Read both sides
- Asset: what you own. Current assets turn into cash soon (bank, customers, stock). Non-current ones serve you for years (vehicles, equipment), shown less accumulated depreciation.
- Liability: what you owe others (suppliers, VAT, salaries due).
- Equity: what belongs to the owners (capital and accumulated profit).
Under equity a calculated line, Net income of the current year, carries the income statement figure from the start of the year. It stays that way until the year-end close.
What to look for
- Liquidity: do current assets cover current liabilities? If not, you may struggle to pay.
- Receivables: growing faster than sales? Collection may be slipping. Check aging.
- Stock: swelling? That is money tied up in goods.
- Equity: shrinking? Accumulated losses are eating the capital.
- Any negative balance in the wrong place, like a bank below zero.
Compare with another date
Under Compare (1) choose Same date last year or Another date and press Run, and a second column appears beside the balances. Press any account to open its statement. The Hijri date shows beneath the date you chose.
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