How to Generate a Balance Sheet Report

Overview:

The Balance Sheet is a core financial statement that provides a snapshot of your company’s financial position at a specific point in time. It details your assets, liabilities, and equity—helping you understand what the company owns, owes, and the residual interest held by owners. In QNE AI Cloud Accounting, generating a Balance Sheet is quick, flexible, and easily customized for internal or external reporting needs.

This guide walks you through the essential steps to create a Balance Sheet report and apply it to real business scenarios.

Scenario:

You’re preparing for a quarterly financial review and need to provide your management team with a detailed Balance Sheet as of June 30. The objective is to assess the company's liquidity, evaluate short- and long-term obligations, and ensure that asset and equity balances align with recent business activity.

Procedure:

• In the navigation pane, go to Reporting > Report Center.
  
• Click on the General Ledger tab at the top of the Report Center.
  
• Scroll down and click the expand icon (+) beside Statement of Financial Positions to view available formats.
  
• Select one of the following Report Options/Format:
  • Statement of Financial Position – Standard format.
  • Statement of Financial Position Comparison – Compares two periods (e.g., current vs. previous year).
• Customize the report using the available filters:
  • Date Range (e.g., 01/01/2025 to 03/31/2025)
  • The Show Level option lets you choose how detailed your financial report appears:
    • Level 1 – Main Categories
      Shows only the highest-level account groups (e.g., Assets, Liabilities) and the first layer of account classes directly under them.
    • Level 2 – Subcategories
      Expands the report to include individual accounts under each account class from Level 1.
    • Level 3 – Full Detail
      Displays all account levels, from top groups down to the third level or subsidiary ledgers, such as specific expense types, bank accounts, or customer accounts.
  • In the Options section, choose to:
    • Include or exclude zero-balance accounts
    • Display parent total
    • Exclude depreciated fixed assets
      
• Preview or Inquire the Report
  • Click Preview to view a printable version.
  • Click Inquiry (if available) to view the system's internal report display.
    
• Export or Print the Report. Use the available options to export the report (e.g., PDF, Excel) or print it directly for distribution.
  

Application:

Example:

At the end of the fiscal year, your external auditor requires a clean and accurate Balance Sheet to begin the audit process. The goal is to present only finalized accounts with all adjustments posted.

To generate this:

• Select Statement of Financial Position standard format.
• Set the report date to December 31, 2025 (year-end date).
• Set the Show Level to 3 for full ledger detail.
• In the Options section:
  • Exclude zero-balance accounts to remove unused or cleared accounts.
  • Exclude Fully Depreciated Fixed Assets
• Click Preview for a clean, printable version.