---
title: Balance Sheet
description: Assets, liabilities, and equity as of a date.
url: "https://theasst.com/docs/balance-sheet/"
updated: "2026-10-06"
category: Reports
---

# Balance Sheet

The Balance Sheet shows what your company owns, owes, and is worth as of a specific date -- Assets, Liabilities, and Equity.

![Balance Sheet report grouped by ASSETS and LIABILITIES with account names and a single date column](https://theasst.com/wp-content/uploads/2026/09/balancesheet.webp)

## Options

Choose **Single Date** or **Comparative** (side-by-side periods), pick a **Fiscal Year**/**Period** or a custom **As of Date**, and **Accrual** or **Cash** basis. **Show zero-balance accounts** includes accounts with nothing posted. Jump to **Profit & Loss** from the sidebar to see the other half of the picture.

## The Options

- **Date Mode** — *Single Date* shows one column. *Comparative* adds a second date; if you leave it blank, TBA compares to one year earlier.
- **Fiscal Year** and **Period** — pick the end of a period, or type any **As of Date**.
- **Basis** — *Accrual* (income when invoiced, expenses when billed) or *Cash* (when the money moves).
- **Site** — All Sites, Single Site, or Custom (tick the sites to include). See [Sites Setup](https://theasst.com/docs/sites-setup/).
- **Show zero-balance accounts**.

## Reading It

Assets must equal Liabilities plus Equity. Equity includes your current-year net income, even before you close the year. Your own wording for accounts comes from the [chart of accounts](https://theasst.com/docs/g-l-accounts/).

## Drilling Down

Click an account to see the [General Ledger](https://theasst.com/docs/general-ledger/) activity behind it, from the start of the fiscal year to the as-of date. **Export PDF** and **Export XLSX** save a copy. The sidebar also jumps to [Profit & Loss](https://theasst.com/docs/profit-and-loss/).