Balance Sheet

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The purpose of a Balance Sheet is to report on the financial position of a company at a certain point in time.

 

Info

Note: These reports include GST.

 

Info

Note: The balance sheet does not include POs on received, the balance sheet is not likely to match stock on hand. You can try running a Stock Valuation by COGS or by Account, under Management > Reports > Stock Report. You can then filter: Real is Finished PO's only, Estimated includes PO's on received using an estimated value.

 

In Jim2 financial reporting, a branch only impacts on profit and loss accounts. When branches are used in transactions involving only balance sheet accounts (eg. bank, petty cash, credit card, stock on hand accounts), the branch is only used for list filtering – not for profit and loss reports.

 

Hence, Jim2 does not have filtering by branch on the Balance Sheet and Trial Balance Reports.

 

balancesheetbydb

 

It is divided into two main parts: what the company owns (assets) and what the company owes (liabilities and net worth).

 

balancesheet

 

As a Balance Sheet is a snapshot and shows actual figures, it is not possible to have a date range (which indicates difference between figures). In Dates choose a date as of, or select the transdateicon icon for predefined dates.

 

balancesheetdate

 

Style: Like the P&L Report, choose how to view the Balance Sheet:

Standard – Straight column of totals.

standardbs

YTD Comparison – This will provide a running total of how the company has been performing from the start of the financial year.

ytdbs

Previous Year Comparison – Compare performance this time last year with right now.

prevyrbs

Budget Comparison – This will compare how current performance to a designated budget. Choose a budget from the drop down options to compare to for this to work.

bscompare

Budget Only – Through this, look at just the budget only.

budgetonly

Budget and YTD Comparison – Compares budget and year-to-date side by side.

bsandytd

 

Like the P&L, choose general ledger levels, offsets, include 13th period, zero balances, account numbers, cents. After selecting all this, Run the Balance Sheet.

 

This is a standard Balance Sheet displaying totals only:

 

balancesheettotalonly

 

Here is another as a budget comparison, displaying quarterly:

 

balancesheetqtrly

 

When running a budget comparison Jim2 will display a change in $ and a change in % columns.

 

hidechange1

 

By right clicking on the figures select to Hide the Change Columns, do a drilldown via Account inquiry or General Ledger to see what transactions make up these figures. The option to Export Data to a spreadsheet, HTML, XML or text file is also available.

 

To generate a backdated Balance Sheet report, enter an as at date. For Balance Sheet reports on the ribbon, go to Management > Business Analysis. This will show the stock values in the various GL Groups at that time.

 

Right click options in the grid:

 

balsheet

 

Right Click Option

Explanation

Show Amounts with 4 decimal places

Click to show any amounts with 4 decimal places.

Export Data

Export data from the grid (based on grid columns added) to a spreadsheet with only one header row.

Export Grid

Exports the grid (based on grid columns added) to a spreadsheet. This is particularly useful if the grid has more than one header row, as it will export all header rows.

Print

Print the list.

Print Preview

Preview the list to be printed.

Copy Cell

Copy the highlighted cell.

Copy Row

Copy the highlighted row.

Copy All

Copy all, which can then be pasted into a spreadsheet.

Show Find panel

Brings up the Find panel:

 

findbox

 

Tip

The Find panel will remain in a pinned list but will disappear from an unpinned list on log off.

Grid Columns...

Allows adding more columns. Also allows removal of columns. Select the column to add, then drag it to the position required in the columns within the grid. To remove, click and drag to the Grid Columns... window, or drag down away from the header area.

 

gridcolumns

 

Further information

Business Analysis

Four decimal places in Business Analysis

Profit and Loss