How To Print QBO Deposit Detail Report

A Balance Sheet shows a financial snapshot of your company. It is always “as of” a specific date. Remember that some reports cover a period of time but this report is a picture at a specific time. It shows the balances for each asset, liability, and equity account as of that specific date. So what are these account types?

Asset: It is something that a company owns that has value. A company typically acquires an asset so they can use it in providing the products or services that makeup their business. For example, Assets include physical property such as plants, trucks, equipment, and inventory such as products sold. Assets may also be intangible such as a trademarks or patent.

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