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8.1 Balance Sheet

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8.1 Balance Sheet

Balance Sheet is a financial statement depicting the financial position of the business by listing the assets and liabilities as on a certain date. It depicts what the business owes and what it owns on a certain date. It is prepared from the accounts listed in the Trial Balance. The balances of the accounts are grouped as assets and liabilities and are arranged in a proper manner in the Balance Sheet. Further, the net profit or net loss calculated in the Profit & Loss account is posted in the Balance Sheet.

To view the Balance Sheet report, click Display à Balance Sheet option. On clicking the Balance Sheet option, two options appear. The options are:

Horizontal – Select this option if you want to view balance sheet horizontally i.e. all

the liabilities are listed on the left hand side and assets are listed on the right hand side.

Vertical – Select this option if you want to view balance sheet vertically i.e. first all the liabilities are listed and below them, all the assets are listed.

On selecting any of the above option, a Balance Sheet message box appears with following two options:

Month End – Select this option to view Balance Sheet at the end of a month.

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As on Date – Select this option to view Balance Sheet as on a particular date. It can be any date of a month.

On selecting any of the above option, a Report Options window appears. Given here are the data fields that appear in the Report Options window.

At the End of – Select month / date for which you want to view the Balance Sheet.

Update Balance Sheet Stock – Specify ‘Y’ in this data field if you want to update and reflect the stock as calculated by BUSY in the Balance Sheet otherwise specify ‘N’ in this data field. On specifying ‘N’ in this data field, you can choose to either reflect no stock information in the Balance Sheet or enter the stock information manually.

Show Second Level Group Details – Specify ‘Y’ in this data field, if you want to view bifurcation of the main Account Groups that are displayed in the Balance Sheet.

Show Zero Balance Master during Drill Down – Specify ‘Y’ in this data field if you want to view details of zero balance masters also on On Enter of Balance Sheet report.

Show Account Level Details – Specify ‘Y’ in this data field if you want to view end level details i.e. all the accounts, groups that are at the end level of hierarchy in the chain of Account Group.

Show Zero Balance Account – Specify ‘Y’ in this data field if you want to view zero balance accounts also.

Enter required data in the data fields of the Report Options window and click the Ok button. On clicking the Ok button, a Balance Sheet window appears displaying Balance Sheet of the company. Given here is a screenshot of Balance Sheet window.

Figure 8.1 Balance Sheet

In the Balance Sheet window, there are two columns, one depicting assets of the company and other depicting liabilities of the company.

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