xBoox

Review the Balance Sheet

Review Assets, Liabilities, and Equity as of a selected date.

Steps

  1. Open Reports > Balance Sheet.
  2. Set As Of to the reporting date.
  3. Review the account groups and totals.
  4. Confirm that the report balances according to the displayed accounting presentation.
  5. Use Export CSV or Print when required.

How to read it

  • Assets represent resources and eligible account balances.
  • Liabilities represent amounts owed.
  • Equity represents owner or shareholder interest and applicable accumulated results.
  • Current Net Income may connect Profit and Loss activity to the Balance Sheet presentation.

Posted Journal Entry lines affect applicable Balance Sheet accounts. A posted reversal offsets the original entry while preserving history.

Important boundaries

  • The Balance Sheet is an as-of report, unlike Profit and Loss, which covers a date range.
  • Reconcile verifies imported account rows against a statement; it is not replaced by viewing the Balance Sheet.
  • Unsupported or incomplete opening balances can affect the usefulness of account balances.
  • xBoox does not automatically create every depreciation, CCA, loan, or year-end adjustment.