Understanding the Simple Balance Sheet

The Simple Balance Sheet (R10111B) tracks assets, liabilities, and equity by business unit or company. To print a simple balance sheet, all of your balance sheet accounts must be grouped in your chart of accounts, and cannot be interrupted by any profit and loss accounts.

You can use a balance sheet to track financial information for:

• Current period.

• Prior period end.

• Prior year end.

• Net change for the period and year.

AAI items GLG2, GLG3, and GLG5 establish the beginning and ending ranges for balance sheet accounts.