Balance sheet report

A Balance sheet report shows assets, liabilities, and equity at a specific point in time by property.

Also called

• Statement of financial position

Sample reports

• PDF format

Other report formats are available and can be generated in the software.

When to use it

Use this report to see a snapshot of a property's financial standing at a given point in time.

Generating this report

1. Go to the Reports menu .
2. Click the Balance Sheet link.
   1. Select your report parameters. More details:
      

       

      Parameter	What it means
      Properties	Select a single property, association or rental owner, or a group of properties, associations or rental owners, using the filter box. You can also select all properties.
      As of	Controls the date for which the report will be run. This report will include all data in your account until this selected as of date.
      Accounting basis	Cash basis reports display data when money changes hands. Accrual basis reports display data for the period in which the transaction originally happened.
      Include inactive properties	You will receive a balance sheet for a property that has been inactivated
      Report format	Choose from PDF, legacy PDF, XLS, XLSX, or CSV.

       

3. Click Download report.

Miscellaneous

• Your total Assets will always match your total Equity plus total Liabilities (Assets = Equity + Liability).

• The balance sheet shows bank account totals as a certain date. This number should tie to the running balance on a bank register. If it doesn't, there is probably be money associated with an inactive property.

• Retained earnings are earnings that are carried over from previous periods and were not distributed to the owners.

  Retained earnings appears on the balance sheet and trial balance reports.

  On the balance sheet, Buildium automatically calculates your retained earnings using the following equation: sum of all income minus sum of all expenses plus or minus any adjustments to the retained earnings equity account.

  This calculation is similar to net income. To compare the balance sheet's retained earnings to an income statement's net income, run the income statement with a date range that begins with your first transaction in Buildium until the "as of" date of the balance sheet.
  
  If the numbers do not match, either there's a transaction that uses retained earnings equity or there's a transaction outside your selected date range.

  On the trial balance, the software uses the same calculation as the balance sheet. On this report, it will automatically roll income and expense totals from prior years into retained earnings if your selected period falls within a single calendar year.