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 and helps with:
- Reviewing a property's financial position at a given moment
- Tracking assets, liabilities, and retained earnings
- Ensuring accurate financial reporting
How to Generate a Balance Sheet Report
- Navigate to the Reports Module in ManageCasa.
- Click on the Balance Sheet icon.
- Enter the Rental Owner and Property for which you want to run the report.
- Select the "As Of Date" to check financial data for a specific day.
- Choose the Accounting Method: Cash or Accrual.
- Click Run Report to generate the statement.
- Once generated, you can:
- Download the report as a PDF
- Export it as a MS Excel file
- Share it directly with the Rental Owner via ManageCasa
Key Accounting Concepts
- Assets = Equity + Liabilities – This is the fundamental accounting equation.
- Retained Earnings refer to income retained from previous periods that has not been distributed to rental owners.
- The retained earnings balance is calculated as:
Total Income – Total Expenses ± Adjustments to Retained Earnings
Understanding these concepts ensures accurate financial reporting and helps in making data-driven property management decisions.
Why Use the Balance Sheet Report?
- Provides an instant overview of financial health.
- Helps track liabilities, equity, and retained earnings.
- Supports financial planning and decision-making for rental properties.
Example of a Balance Sheet report:
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