Balance Sheet Drilldown
The Balance Sheet Drill Down shows the financial position of the business at a chosen date — what it owns, what it owes and what is left for the owners. Filters for branch and department let you look at one segment rather than the whole company.
Where to find it
Go to Financial Statement > Balance Sheet Drill down.
Filter Options
| Filter | Description |
|---|---|
| As of Date | The date the position is stated at. A balance sheet is always at a point in time, never over a period. |
| Branch | Restricts the view to one branch. |
| Department | Restricts it further to one department. |
Balance Sheet Components
| Component | What it includes |
|---|---|
| Current Assets | Assets expected to be turned into cash or used up within a year — cash, accounts receivable, inventory. |
| Inventory Assets | The value of stock held. |
| Current Liabilities | Obligations falling due within the next year — accounts payable, short-term loans. |
| Total Equity | The residual interest in the assets after liabilities are deducted — what the owners hold. |
Sample Balance Sheet Table
The statement is laid out by category with an amount against each, totalling to the accounting equation.
| Category | Represents |
|---|---|
| Assets | What the business owns. |
| Liabilities | What it owes. |
| Equity | Assets less liabilities. |
Assets must equal liabilities plus equity. If they do not, the ledger is out of balance and every figure derived from it is unreliable — start from the trial balance rather than trying to fix the balance sheet directly.
Reading it by branch
Branch and department filters are only meaningful if transactions were tagged when they were entered. An untagged transaction appears in the company total but in no branch, so the segments will not sum to the whole.
Related pages
- Profit and Loss Drill Down — the performance side
- Trial Balance — checking the books balance
- Overview — the headline figures
- Branches and Departments — setting up the tagging