The Balance Sheet, sometimes referred to as the Statement of Financial Position, is one of the core reports offered by ManageCasa, showing assets, liabilities and equity at a specific, fixed point in time for a property.
This report is one of the fastest way to assess a given property’s financial standing at any given moment in time.
Creating an Balance Sheet on ManageCasa is easy:
- Navigate to the Reports Module
- Click on the Balance Sheet icon
- Input the Rental Owner and Property for which you would like to run the report
- Select the “As Of Date”: the day for which you would like to check the property’s financial health.
- Select either Cash or Accrual depending on which Accounting type you are following.
- Click the Run Report Button
Your report will be generated, and you will be presented with the option of exporting it as a PDF, as an Excel File, or Saving and Sharing it directly with your Rental Owner through ManageCasa.
- Assets = Equity + Liabilities. This is accounting 101.
- Retained earnings, which represent earnings that are carried over from previous periods and never distributed to rental owners, may appear on the balance sheet.
- The retained earnings are equal to the sum of all income minus the sum of all expenses plus or minus any adjustments to the retained earnings equity account.
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