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Difference between revisions of "Balance Sheet"

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== Balance Sheet ==
  
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==== Balance Sheet Menu ====
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[[File:Balance Sheet Menu.png|center|thumb|1300x1300px|Balance Sheet Menu]]
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'''Balance Sheet''' Module refers to an overview report of the user's Organization's Assets. Liabilities and Equity at a given time.
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Balance Sheet Terms on Oojeema Prime:
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# '''Date Range'''(Monthly, Quarterly, Yearly) - gives the user a set of date range on how they will view their Balance Sheet.
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# '''Account''' - set of accounts included on the Balance Sheet which mainly compose of Assets, Liabilities and Equity.
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# '''Assets''' - set of accounts or anything valuable that the organization owns. It can be land, equipment, or any intellectual property.
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#* Set of Assets can be seen in Assets Tab under [[Chart of Account]] Maintenance Module.
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# '''Current Assets''' - this refers to the assets of a company that are expected to be sold, used, consumed, or exhausted through standard business operations within the given time period.
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#* Set of Assets can be seen in Assets Tab under [[Chart of Account]] Maintenance Module.
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# '''Non-Current Assets''' - non current assets are usually listed below current assets, these are assets whose benefits will be realized over a certain period(more than a year) and cannot be converted into cash. These assets may include property, equipment, supplies and peripherals.
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#* Set of Non-Current Assets can be seen in Assets Tab under [[Chart of Account]] Maintenance Module.
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#* Non-Current Assets can also be seen in [[Fixed Asset Master]] and [[Fixed Asset Class]] since its GL Account is tag on a certain Chart of Account.
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# '''Equity''' - Equity refers to all values that will be returned to the company's shareholders if the assets were liquidated and all the debts were paid off.
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# '''Retained Earnings''' - Retained earning referred to any profits that earned by a company on a certain period, less the dividends and any other distributions paid to the investors. This can be adjusted if there is an entry on the accounting records that changes a revenue or expense account.
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# '''Liabilities''' - refers on something that a company owes, usually an amount of money. This can be settled over time through transfers of benefits economically, this may include money, goods or services.
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# '''Current Liabilities''' - these are the set of amounts to be paid to creditors within a specific range of date.

Revision as of 14:25, 2 February 2021

Balance Sheet

Balance Sheet Menu

File:Balance Sheet Menu.png
Balance Sheet Menu

Balance Sheet Module refers to an overview report of the user's Organization's Assets. Liabilities and Equity at a given time.

Balance Sheet Terms on Oojeema Prime:

  1. Date Range(Monthly, Quarterly, Yearly) - gives the user a set of date range on how they will view their Balance Sheet.
  2. Account - set of accounts included on the Balance Sheet which mainly compose of Assets, Liabilities and Equity.
  3. Assets - set of accounts or anything valuable that the organization owns. It can be land, equipment, or any intellectual property.
    • Set of Assets can be seen in Assets Tab under Chart of Account Maintenance Module.
  4. Current Assets - this refers to the assets of a company that are expected to be sold, used, consumed, or exhausted through standard business operations within the given time period.
    • Set of Assets can be seen in Assets Tab under Chart of Account Maintenance Module.
  5. Non-Current Assets - non current assets are usually listed below current assets, these are assets whose benefits will be realized over a certain period(more than a year) and cannot be converted into cash. These assets may include property, equipment, supplies and peripherals.
  6. Equity - Equity refers to all values that will be returned to the company's shareholders if the assets were liquidated and all the debts were paid off.
  7. Retained Earnings - Retained earning referred to any profits that earned by a company on a certain period, less the dividends and any other distributions paid to the investors. This can be adjusted if there is an entry on the accounting records that changes a revenue or expense account.
  8. Liabilities - refers on something that a company owes, usually an amount of money. This can be settled over time through transfers of benefits economically, this may include money, goods or services.
  9. Current Liabilities - these are the set of amounts to be paid to creditors within a specific range of date.
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