Balance Sheet Overview
  • 24 Jun 2021
  • 1 Minute to read
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Balance Sheet Overview

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Overview

Your Balance Sheet provides insights on what your business owns (its assets), what your business owes (its liabilities), and how much your business is worth, at a specific point in time, such as the start date or end date of a fiscal year. It helps you spot the strengths and weaknesses in your business, allowing you make smart decisions about how to grow in the future. In the simplest terms, the Balance Sheet subtracts what you owe from what you own to calculate your business’s net worth.

The Balance Sheet, along with the Profit and Loss and Cash Flow Statement, are key financial reports for any business. The Balance Sheet provides a snapshot of information that is linked to both the Cash Flow and Profit and Loss reports.

For example, the cash balance that appears on the balance sheet is the ending balance used in the Profit and Loss report. Property Management owners use financial statements to monitor the financial performance of the company and communicate this to potential investors. They are used in order to make smart business decisions for both short-term and long-term success.

When you use a Balance Sheet to track your finances, you are better able to find hidden costs or roadblocks, reduce expenses, and maximize profits. The Balance Sheet can help you easily identify patterns, especially in accounts receivable and accounts payable. Are your tenants paying their rent charges? Do you have enough to cover your vendor payments or repay debts? The Balance Sheet can help you understand all of this.

Your DoorLoop account comes with your Balance Sheet Statement prebuilt with the following breakdowns:

  • Balance Sheet This Year to Date
  • Balance Sheet by Property
  • Balance Sheet by Month
  • Balance Sheet by Quarter
  • Balance Sheet by Year

Balance Sheet Filters and Groups

Your Balance Sheet reports comes pre-built with the following adjustable filters and groupings:

  • Report Period
    • From & To Date (If Applicable)
  • Group by
    • Property
    • Unit
    • Tenant
    • Owner
    • Vendor
    • Time Period
  • Filter by
    • Vendor
    • Property
    • Portfolio

Learn about using reporting groups and filters

Learn how to save custom reports


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