Balance Sheet

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The Balance Sheet summarizes your church’s financial resources and obligations for the month of the current fiscal year in which the report is printed. It is generally divided into three sections: Assets, Liabilities, and Equity. This is a great report to run at year end to get an idea of your church's financial position.

Two line items on this report that you will see accounts for, but you won't see in your chart of accounts are Dedicated Funds Receivable and Dedicated Funds Payable.

» Dedicated Funds Receivable—This line item represents the sum of all dedicated accounts with a negative balance. On your balance sheet, when a dedicated account holds a negative balance, it is considered an asset as the dedicated account has spend more money than was reserved for it, meaning the money should be paid back.

» Dedicated Funds Payable—This line item represents the sum of all dedicated accounts with a positive balance. On your balance sheet, when a dedicated account holds a positive balance, it is considered a liability because the money in dedicated accounts exists in the bank accounts and the dedicated accounts have "reserved" that money.

The formats this report allows you to print are:

» Current year only—Prints a report for the current year that includes the balance as of the beginning of the fiscal year, the balance as of the end of the report month, the current year change, and the percent of change.

» Prior year only—Prints a report for the prior year that includes the balance as of the beginning of the prior fiscal year, the balance as of the end of the report month, the current year change, and the percent of change.

» Current year vs. prior year—Prints a comparison of the current year-to-date against the prior fiscal year-to-date for the specified report month.

» Five-year trend—Prints a five-year comparison (providing you have that much historical information). Years for which no historical information exists print zeroes.

  1. Find this report by going to “Reports” in the menu bar and selecting “Balance Sheet.”
  2. Choose the Format and Report Month you want.
  3. Pick a Level of Detail along with the orientation and the captions.
  4. You can run this report for any and all funds. If you do run it for multiple funds, consider checking the Consolidated option.
  5. Check Consolidated if you want to print a balance sheet where accounts from selected funds are listed together by account type on a single report.
  6. Choose any other options you may want.
  7. Click Preview to view the report or click Print to send the report directly to the printer.
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