Also called

  • Statement of financial position

Sample reports

 

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.
  3.  

  4. 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.

 

Article #: 112663

 

Still have questions?

Create a support ticket anytime, and we'll get back to you as soon as possible.

Submit a support ticket