Assets & Liabilities
The Assets & Liabilities Report is your formal balance sheet: total assets, liabilities, and equity as of a chosen month, with period comparisons and a debt-to-equity ratio.
Overview
Four KPI cards (Total Assets, Total Liabilities, Equity, Debt-to-Equity Ratio) sit above a hierarchical statement following the accounting equation: Assets (Current, Non-Current) → Total Assets → Total Liabilities → Equity. Current assets list Cash, Accounts Receivable, and Inventory; current liabilities list Accounts Payable, Sales Tax Payable, and Customer Deposits; equity shows Owner's Equity plus a Retained Earnings line (cumulative net income derived from the ledger) — so the statement ties out to your Profit & Loss. A month dropdown sets the "as of" date; columns compare it to the prior month and the same month last year. Fixed assets auto-depreciate and loans auto-amortize, and empty sections (e.g., Non-Current Assets) are hidden to keep the sheet clean.
Step by step: review your position
- Pick a month from the dropdown (defaults to the current month).
- Read the KPI cards for Total Assets, Total Liabilities, and Equity.
- Expand sections to inspect account-level balances and the Change % column.
Key features
| Feature | What it does |
|---|---|
| KPI cards | Total Assets, Total Liabilities, Equity, Debt-to-Equity |
| Hierarchical statement | Current/Non-Current assets and liabilities with subtotals |
| Period comparison | Current period vs. previous period and previous year |
| Auto depreciation/amortization | Fixed assets depreciate (straight-line, declining-balance, or sum-of-years-digits) and loans amortize on a weekly / bi-weekly / monthly / quarterly / annual schedule — all computed automatically. Set the method and frequency on the account in Finance → Assets & Liabilities |
| Principles note | Explains the accounting equation and classification |
| Export CSV | Download the report (Premium) |
Tabs, views & filters
| Control | Options |
|---|---|
| Month selector | Any of the last 24 months (uses the month-end date) |
Tips & best practices
- Track Total Assets vs. Total Liabilities month over month to see net-worth movement.
- A debt-to-equity ratio above ~2.0 may signal high leverage.
- Compare the same month across years to surface seasonal patterns.
- Prefer to explore first? Click the amber Demo button in the page header for a guided tour with sample data.
Troubleshooting
| Issue | Fix |
|---|---|
| Totals don't balance | Look for a missing/incorrect journal entry |
| Depreciation looks wrong | Verify purchase price, useful life, and method on the asset |
| Loan balance is off | Confirm original amount, interest rate, dates, and frequency |
| Doesn't tie to the P&L | Equity includes a ledger-derived Retained Earnings line, so it should tie out; if it's off, look for a sale or expense that's missing its journal entry |
What's next
- Maintain the accounts: Finance → Assets & Liabilities
- Review profitability: Reports → Profit & Loss
- Track spending: Reports → Expenses Report