The balance sheet is only available on the web version of Wave.
A balance sheet provides an overview of your business's assets, liabilities, and equity, to provide a tool for assessing your company's worth at a specific moment in time.
View the balance sheet
- On the left-side menu, click Reports, then Balance Sheet.
- Select your statement date.
- Select the Report Type from Accrual (Paid and Unpaid) or Cash Basis (Paid).
- Accrual (Paid and Unpaid) includes income and expenses. Non-cash expenses like depreciation and amortization are included.
- Cash Basis (Paid) includes income that has been invoiced but not yet received and expenses that have been billed but not yet paid.
- Click Update Report to review your statement.
An overview of your cash and bank balance, income to be received, and the expenses to be paid for your selected date is displayed at the top of your report.
You can view your statement in full in either the Summary or Details tab:
- The Summary tab provides an overview of your total balance for asset, liability, and equity accounts.
- The Details tab provides an in-depth look at the specific accounts and balances within your business asset, liability, and equity categories.
Understand the balance sheet
The core accounting equation is: Assets = Liabilities + Equity.
This equation shows that what a business owns (assets) is funded through borrowing (liabilities) or owner contributions and profits (equity).
Assets
The first section lists all assets owned by the company. This includes your Cash and Bank, Other Current Assets, and Long-term Assets. Assets are organized from the most liquid, or most easily converted to cash, to the least liquid.
Liabilities
The second section lists all current and long-term liabilities. Liabilities are in order of shortest term to longest term.
Equity
The final section details the equity of the business. Depending on the business structure, this may include owner or partner equity, owner investment and draws, common stock, retained earnings, and additional paid-in capital.
For more information on Wave’s reporting features, watch the Video: Wave’s Reports Tour.
Export a statement
To export your profit & loss statement, at the top right corner, click Export, then select CSV or PDF format. The statement will download to your browser.