The balance sheet shows what your business owns (assets), what it owes (liabilities), and the owner's stake (equity) at a single point in time.
The accounting equation
Every balance sheet follows: Assets = Liabilities + Equity. If your balance sheet doesn't balance, there's an error somewhere in your books.
Key sections explained
- Current Assets — Cash, receivables, inventory (convertible to cash within 1 year)
- Fixed Assets — Equipment, vehicles, property (long-term assets)
- Current Liabilities — Payables, short-term loans (due within 1 year)
- Long-term Liabilities — Bank loans, mortgages (due beyond 1 year)
- Owner's Equity — Capital invested + retained profits
Generating your balance sheet in Finova
1
Go to Reports → Balance Sheet.
2
Select the date — the balance sheet is always as of a specific date, not a period.
3
Optionally compare with a prior period (e.g., last year same date).
4
Click Generate. Export to PDF or Excel using the button at top right.
💡Tip: Review your balance sheet at year end and share it with your accountant or bank. Lenders often require this document for loan applications.
âš ï¸Note: If Assets ≠Liabilities + Equity in your report, contact support immediately — it indicates a data entry error that needs to be traced and corrected.