The Balance Sheet report provides a summary of your accumulated assets (such as your business assets or your personal investments such as property and shares) and liabilities (such as bank loans, margin loans, directors loans or credit cards). The report is based on all of the transactions entered into Saasu for the life of your file.

This report also shows your equity, which should be equal to your assets minus your liabilities. When someone asks you how much equity you have in a business or in your home, they are essentially asking what is the difference between your assets and liabilities.

If you want to change these options click Change Settings at the top of the report.

To ensure that this report is accurate, it is important that you enter any opening, or historical, balances into Saasu. If your equity does not equal your assets minus liabilities then there is probably an error in the information entered into Saasu in Opening Balance found in the Accounts list screen (click Accounts in the main menu).

FAQ’s

Why doesn’t the equity Account for earnings match the total of my sales invoices?

The Balance Sheet report shows all amounts without tax. The tax portion will appear under the tax Accounts such as Tax owed.

Why are there negative amounts in the Liabilities section?

This indicates that you are in credit, or in other words, money is owed to you. As an example this can sometimes occur with directors loan accounts where the director has lent more money to the business than they have borrowed from the business.

When I run this report for a tag it looks very strange?

When you choose to limit this report to show transactions from a specific tag, the amounts shown for Bank, Asset and Loan accounts may not show the actual value of those Assets and/or Loans. This is because the report will only calculate totals based on the transactions for that specific tag, and some transactions relating to these accounts may not be present in this calculation