Access your balance sheet anytime
QuickBooks Online calculates and creates the balance sheet for you
QuickBooks Online makes it easy to create your balance sheet with the pre-installed balance sheet template. QuickBooks Online lets you organise and review your balance sheets, financial data and other financial reports anytime and from anywhere in one place.
A balance sheet puts all your financial data at your fingertips
The balance sheet shows what a business owns, the asssets, what it owes, the liabilities, and its net worth at a specific point in time. The three parts of a balance sheet are assets, liabilities and equity. It has two sections that must balance, hence the name balance sheet. The balance sheet, together with the income and cash flow, is the main report for any business. In fact, the balance sheet is the core component of other financial statements as all others either feed into or are derived from it.
QuickBooks Online organises all of your business’s accounting and financial data in one location so that you can create financial reports like the balance sheet in just a few clicks. QuickBooks Online offers a pre-installed balance sheet template and does all the necessary calculations for you, making it fast and easy to access and review your balance sheet.
The QuickBooks Online balance sheet template makes it easy
QuickBooks Online allows you to access and generate over 65 financial reports and statements in minutes. The main categories of assets are listed first in the balance sheet, followed by the liabilities. The difference between assets and liabilities is displayed at the bottom as the equity or net worth of the business. Simply choose Reports > Balance Sheet in QuickBooks Online and the pre-installed template is populated with your data in seconds.
Balance sheets can you help identify and analyse trends in your business, especially for accounts receivable and accounts payable. Are your customers paying on time? Can you collect overdue invoices more effectively? Do you have any “bad debts” – debt that you can’t collect? The balance sheet provides you with the financial information you need to effectively manage the business’s financial health.