How To: Run the Balance Sheet for a Previous Year
Table Of Contents
Introduction
The Balance Sheet can be run for any previous financial year, allowing you to review your company's financial position at the end of a historical accounting period.
This is useful when:
- Reviewing year-end accounts.
- Comparing financial performance between years.
- Providing historical financial information to accountants or auditors.
- Checking balances before completing period-end processes.
Run a Balance Sheet for a Previous Financial Year
- Open an Accounts screen (show me how).
- Open the [ Balance Sheet ] tab.
- In the filters at the top of the screen:
- Select the required year from the Year Ending filter.
- Turn the filter traffic light to green to activate it.
- Click Go.
- The Balance Sheet for the selected financial year will be displayed in the grid below.
Result
The Balance Sheet will show the balances recorded at the end of the selected financial year, allowing you to review historical assets, liabilities and equity values.
Tips
- Confirm that the correct financial year has been selected before running the report.
- Use this report when comparing current-year figures against previous financial periods.
- Export or print the results if you need to share them with an accountant or retain them for audit purposes.