Balance Sheet Report
The Balance Sheet lists your company's assets, liabilities, and equity.
The standard Balance Sheet includes the following rows, which correspond to account types (see Account Types):
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ASSETS (header row)
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Current Assets (header row)
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Bank (financial section)
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Accounts Receivable (financial section)
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Unbilled Receivable (financial section)
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Other Current Asset (financial section)
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Total Current Assets (summary row)
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Fixed Assets (financial section)
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Other Assets (financial section)
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Total ASSETS (summary row)
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LIABILITIES & EQUITY (header row)
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Current Liabilities (header row)
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Accounts Payable (financial section)
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Credit Card (financial section)
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Other Current Liability (financial section)
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Total Current Liabilities (summary row)
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Long Term Liabilities (financial section)
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Equity (header row)
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Equity (financial section)
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Retained Earnings (header row)
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Total Retained Earnings (summary row)
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Net Income (referenced row from Income Statement)
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Cumulative Translation Adjustment (financial section)
(OneWorld accounts with multi-currency enabled only)
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Total Equity (summary row)
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Total LIABILITIES & EQUITY (summary row)
Header and summary rows are linked. Each summary row is calculated either through a sum of child row amounts or through a specified formula. Standard section data are selected based on account type and are grouped by accounts. For more information, see Financial Statement Sections.
For NetSuite OneWorld, consolidated balance sheet reports use a special account called Cumulative Translation Adjustment (CTA) to achieve balance when there is more than one currency. This account is necessary because the rate types of the accounts on the balance sheet differ. This results in different rates being used and can cause an imbalance. The CTA is also used wherever consolidation across accounts with different rate types occurs, such as the consolidated trial balance. For more information, see Cumulative Translation Adjustment (CTA) Overview.
All balance sheet accounts checked with "Eliminate Intercompany Transaction" are used exclusively for intercompany posting. Consequently, you cannot post a non-intercompany balance to an Other Current Asset account IF the account is marked "Eliminate Intercompany Balance." In this case, you must have separate balance sheet accounts to post intercompany and non-intercompany transactions. The impacted balance sheet accounts include A/R, A/P, Other Current Asset (excluding inventory account), Other Current Liability, Long Term Liability, Other Asset, Deferred Expense, and Deferred Revenue. Further, the elimination Journal Entry is automatically reversed in the beginning of next period; therefore, the month-end auto-elimination will be calculated using the latest exchange rate, and on top of the total open balance of the account.
You can customize the Balance Sheet in the Financial Report Builder. You can add, reorder, and change the hierarchy of rows. You can group section data by class, department, location, and if you are using NetSuite OneWorld, subsidiary. You can set formatting options for each row. You can also add and define columns for the report. For more information, see Financial Report Builder. Be aware that the Allow Web Query option is not available for this report.
Do not remove the original Amount column during customization. If you do so and add it back later, you cannot drill down on the data in the Amount column that you added.
For information about the permissions required to view and customize financial statements, see Permissions and Roles.
The Report by Period user preference determines whether report data is calculated by date range or by period. This preference is available at Home > Set Preferences, on the Analytics subtab. To display this report's data by date range, set this preference to Never. To display this report's date range by period, set this preference to All Reports, or to Financials Only. For more information, see Choosing a Date or Period Range for a Report.
The Total Bank Balance key performance indicator (KPI) can be added to your dashboard to provide at-a-glance views of totals from the Balance Sheet report. For more information about KPIs, see Setting Up the Key Performance Indicators Portlet.
To see the Balance Sheet report:
Go to Reports > Financial > Balance Sheet.
A message appears indicating that your report is loading. The status bar in the footer of the report indicates the progress as your report loads. You can click Cancel Report next to the status bar to stop the report from loading.
In the footer of the report, you can select from filter lists to refilter report data. You also can select from the Column list to display report amounts by an additional dimension, including time period, class, department, location, or, if you are using NetSuite OneWorld, subsidiary. Click the More arrow button to display all footer lists. For more information, see Setting Report Footer Options.
Inactive classes, departments, locations, and subsidiaries are available as filters to provide historical reporting and to avoid unbalanced totals.