This will give a record of the financial position of the institution on a particular date by listing its assets liabilities and capital.
Note that fixed assets should have been registered under Accounts/Assets/Asset Register and linked to their respective GL Accounts.
Loan Performer will automatically generate the balance sheet for all transactions.
How to view the Balance Sheet
To view the balance sheet you go to Accounts/Financial Reports/Balance Sheet a screen like one below appears:
As at a particular date: When you tick this option, the balance sheet will display the list of assets and liabilities up till a particular date, e.g., As at"23/04/2014". If you do not tick this option the balance sheet will display records for only a specified period.
Print Account Numbers: When this option is selected, the GL account numbers will be displayed in the balance sheet while if the option is unchecked, then the balance sheet will not display the account numbers.
Report Currency: From the drop down list select the currency in which the report should appear, e.g., "UGX".
Note that Loan Performer offers the flexibility of displaying the report in different currencies.
Check if only non-zero balances: When this option is selected, the balance sheet will display only those accounts that have balances.
From Product: Select the Product from which the balance sheet will start and in the till product option, enter the product on which the balance sheet is to stop or tick the Check for all option to generate the balance sheet for all products.
From Donor: Select the Donor from which the balance sheet will start and in the till Donor option, enter the donor on which the balance sheet is to stop or tick the Check for all option to generate the balance sheet for all donors.
From Branch: From the drop down box, select the branch from which the balance sheet will start and in the till Branch the branch that the report will stop or tick the Check for all options to generate the balance sheet for all branches. When Check for all options is selected, then balance sheet will be generated for all branches for Corporate Databases.
From Cost Centre: From the drop down box, select the Cost Centre from which the balance sheet will start and in the till Cost Centre, where the report will stop or tick the Check for all options to generate the balance sheet for all cost centers.
From Debtor: From the drop down box, select the Debtor from which the balance sheet will start and in the till Debtor the debtor that the report will stop or tick the Check for all options to generate the balance sheet for all debtors.
From Creditor: From the drop down box, select the Creditor from which the balance sheet should start and from the till Creditor dropdown the creditor that the report should stop or tick the Check for all option to generate the balance sheet for all creditors.
Include Off-Balance Sheet Accounts: If you tick this checkbox then the Balance Sheet will display the Off-Balance Sheet items as well. (Off- balance sheet accounts/items are usually assets or liabilities or financing/funding activities not recorded in the company's balance sheet. They do not appear on a company's balance sheet. Although not recorded on the balance sheet, they are still assets, liabilities and capital of the company).
Note that off balance sheet accounts are defined at creation of account types in the Chart of Accounts, see image below:
Note that by default Loan Performer does not include off balance sheet items in the Balance Sheet.
In Loan Performer all accounts are categorized under Main Groups, e.g., "assets, liabilities, income or expenses" and under each category they are further categorized as under Sub groups, e.g., "current assets, current liabilities etc." You therefore have the option of viewing the totals of the balance sheet as a plain listing, totaled under main categories or further displayed as totals of main groups and sub groups. See below.
Plain Listing: Under this option the balance sheet will display a listing of all the accounts without giving the totals for the respective groups and sub groups that you have in your Chart of Accounts.
Sub totals on Main Groups: Under this option the Balance Sheet will display a listing of all the accounts giving totals of the respective Main Groups, i.e., "assets, liabilities, Income, and expenses":
Sub totals on Main Groups and sub groups: Under this option the Balance Sheet will display a listing of all the accounts giving totals of the respective Main Groups, Sub Groups and the Grand Total for all displayed accounts.
Show account numbers for headers and sub-headers: When you tick this checkbox, the Balance Sheet will display account numbers for both the headers and sub accounts.
Select any other required additional options or use the default selections. For additional information on these options you can refer to Accounting Report Formats.
LPF offers you different format in which you can generate the reports e.g. .pdf, .xls, .dbf etc. If you don't have adobe application installed on your machine select another format.
In addition, you have the two options View and Print which enable you to look at the report before printing it. If the applications that allow you to see the report in the different formats mentioned above are not installed in your computer, you may send it directly to the printer and look at the hard copy.
Click on the OK button to generate the balance sheet that will look as follows:
