Balance Sheet [Last Year Analysis] report
This report compares your balance sheet as of the end of the selected month of this fiscal year with your balance sheet as of the end of the same month of last fiscal year.
This report can be displayed using the cash basis or accrual basis accounting method. (Cash basis versus accrual basis reporting)
Report Tip: This report shows you how your asset, liability, and equity account balances changed over the course of the year.
- Check any change from year to year greater than 10%. Make sure you understand why it changed. Has your cash position improved or declined? Are your receivables growing or shrinking? Why?
- If you are using a 13th accounting period, run the report twice, once for 12 periods and again with the 13th period. Since many 13th period entries are non-operational, you may get a clearer picture of your business operations with a 12-month P&L.
Use this report for Annual Reports.