Glossary
Balance sheet
Definition
The balance sheet shows what a company owns, what it owes and what belongs to the owners, on one date. Assets equal liabilities plus equity, and that is why the report is called a balance sheet.
Example. A company with €6,000 of assets, €2,000 of liabilities and €4,000 of equity has a balance sheet that balances on that day.
Why it matters for your company
It answers whether the company can pay its bills and what the owners have put in. Lenders and the annual report use it, so you should read it at each closing.
Where you see it in Sapita
In the reports section, as the balance sheet for any date you choose.