How to Create a Balance Sheet Report in QuickBooks Online

To create a balance sheet report in QuickBooks Online, open **Reports**, select **Balance Sheet**, set the date or period you need, and run the report. Then check that the report shows assets, liabilities, and equity for the correct date. If the numbers do not look right, verify the report date, the accounting method, and the transaction details before you rely on it.

Before you start in QuickBooks Online

Make sure you have permission to view company reports in QuickBooks Online. If your access is limited, you may be able to open the report but not change settings or export it.

Decide what you need before you open the report:

• The date or date range you want to review
• Whether you need the report on cash or accrual basis, if that choice matters for your review

Open the Balance Sheet report

1. Sign in to QuickBooks Online and open the left navigation menu.
2. Select Reports.
3. In the search field, type Balance Sheet.
4. Open the report named Balance Sheet, not a similarly named summary or comparison report.

When the report opens, confirm that you see sections for assets, liabilities, and equity. If those sections are not there, you are not on the full balance sheet report.

Set the date range you need

1. Look for the report date or period controls at the top of the report.
2. Choose the period you need, such as this month, last month, this fiscal year, or a custom date range.
3. If you choose a custom range, enter the start and end dates you want.
4. Run or refresh the report so QuickBooks updates the totals for that period.

Use a date that matches the question you are trying to answer. If you want a balance sheet as of a single day, set the report to that end date. If you need a month-end or year-end report, use the period that matches that close date.

Adjust the report if you need a different view

If the default layout does not fit what you need, change the settings before you use the report.

Common adjustments include:

• Switching between cash and accrual basis, if that option is available on your report screen
• Adding or removing columns
• Showing or hiding percentage or comparison columns
• Changing how the report displays dates, totals, or accounting period labels

Use the Customize option in the report header if you need these changes. After you adjust the settings, run the report again so the display matches the view you want. Do not assume the report updated just because you changed a setting.

If you are reviewing the report with someone else, keep the view simple. Extra columns can make it harder to spot a balance problem.

Run the report and check the result

After you set the date and any display options, run the report and read the result from top to bottom.

A complete balance sheet should show three main parts:

• Assets
• Liabilities
• Equity

The report should also show totals for each section. In a normal balance sheet, total assets should equal the combined total of liabilities and equity. If the report does not show all three sections, or the totals are missing, you are not looking at a complete balance sheet view.

Check the heading at the top of the report first. It should show the company name, the report title, and the period you selected. That is the quickest way to confirm you pulled the right report for the right date.

If the balance sheet does not look right

Start with the date range. A wrong date is the most common reason a balance sheet looks off. If you picked the wrong end date, the report can leave out balances you expected to see or include balances from a different period.

Next, check the accounting method. Cash and accrual basis can produce different results, so make sure the report is set the way you need it.

If the date and method are correct, look for missing or misposted transactions. Common causes include:

• A transaction entered in the wrong period
• A payment, bill, invoice, or journal entry posted to the wrong account
• A transaction that was saved but not completed
• A reconciliation issue that needs follow-up

If a specific account total looks off, click into that line item if QuickBooks allows it and review the detail behind the number. That usually points you to the transaction causing the imbalance. If the balance sheet still does not tie out after those checks, review the related transactions before changing the report settings again, because the report may be showing a real accounting problem rather than a display issue.