Balance Sheet Report

This report details your organisationÆs assets and liabilities, to give a summary of your current financial position.

A balance sheet shows what your organisation owns (your assets) and what it owes (your liabilities). And what form the money is in, e.g. motor vehicles or property, bank accounts, debtors, creditors, cash accounts, etc. The difference between the assets and the liabilities is often known as a companyÆs net assets (or net worth).

These net assets take the form of capital which is made up of the funds that are financing the companyÆs operations. Capital can be made up of several sources of funds such as the capital that has been introduced by the owner, share capital, directorsÆ loans, and funds that are retained from each yearÆs profit or loss after tax.

You can use in Sage Line 50 the default layout of accounts, or you can create your own.