The Balance Sheet shows a snapshot of your company’s financial health on a specific day.
You can find it under Reports > Balance Sheet.
It is broken down into three parts:
- Assets: Everything your business owns (e.g., the money in your bank accounts, money owed to you from clients).
- Liabilities: Everything your business owes (e.g., unpaid bills to vendors, a business loan).
- Equity: The net value of your business (Assets minus Liabilities).
This report is essential for understanding the overall value of your company.
