Yearly Balance Sheet Report (2024)

a week ago

Hello,

We have been working my customer since 2022. When we create our customer's 2023 Balance Sheet, the remaining balances from 2022 are added to the report. Can I get the Balance Sheet report for 2023 only from Quickbooks Online?

• QuickBooks Online

Rainflurry

Good morning, @Ugur01.

Thanks for taking the time to reach out to the QuickBooks Community for support. I hope your day is going great so far.

At this time, the balance sheet report will show any balance due up to the date you apply. For example, if your end date is Dec. 31, 2023, it'll show your current balance for that date, regardless of what came before it.

As a workaround, you could use our Balance Sheet Comparison report to compare between the years. I'm including some steps to run the report below.

1. Go to Reports.
2. In the search bar, search for and open Balance Sheet Comparison.
3. Hit Customize.
4. Under Rows/Columns, select the Columns dropdown, then change it to the desired comparison period.
5. Select Run report.

Some other reports let you compare time periods side-by-side. This lets you easily see how things have changed over time. Here's how to check if the report you run has this option:

1. At the top of the report, select the menu under Compare another period.
   Note: If you don't see Compare another period,then it isn’t an option for that report.
2. Choose which time period to compare.
   • Previous period: The period right before the report period.
     Example:If the report period is February, the previous period is January.
   • Previous year: The same period the previous year.
   • Year-to-date: From the start of the year to the start of the report period. Note: Not all reports have this option.
3. Click on how you want to compare the difference.
   • $ change: The difference as a dollar amount.
   • % change: The difference as a percentage.
4. HitRun report. And, you'll be able to see your changes.

For more information about balance sheet reports, check out the help guides I'm including below.

• Run a Balance Sheet report in QuickBooks Online
• Compare time periods in reports in QuickBooks Online

Please don't hesitate to let me know if there is anything else I can assist you with. Take care and have a wonderful day ahead!

@Ugur01

"When we create our customer's 2023 Balance Sheet, the remaining balances from 2022 are added to the report. Can I get the Balance Sheet report for 2023 only from Quickbooks Online? "

No. A balance sheet is a snapshot (as of the report sate) of the business's assets, liabilities, and equity. All balances (except current year net income) are a running total from Day 1 of operations to the report date. You can run a balance sheet comparison report to see the difference between two dates but, in both cases, they will be the running total of all prior dates. With all due respect, if you're keeping books for a business, this is basic accounting knowledge and should be well understood.