About Balance Sheets

Balance Sheets report the assets, liabilities, and equity at a specific point in time, such as at the fiscal year end. On the FAST Finance Balance Sheet menu, there are options to open the Balance Sheet, the Balance Sheet-5 Year Trend, and the Trial Balance. You can display a high level overview of these reports or select accounting codes to summarize them.

• Balance Sheet

  The Balance Sheet is one of the main financial statements. A balance sheet reports the assets, liabilities, and owner's (stockholders') equity at a specific point in time, such as at fiscal year end. The balance sheet may also be referred to as the Statement of Financial Position.

  • Provides a high-level view.

  • Displays four columns of data for the current period (Debit, Credit, Period Net, Current Year) and a fifth column with data for the same period for the Prior Year.

  • You can select filter options if you want to view specific accounting codes.

• Balance Sheet - 5 Year Trend

  The 5 Year Trend Balance Sheet shows the balance sheet information for the current and previous 4 years.

  • The high level view displays five columns of data, beginning with the current period followed by the same period for the previous four fiscal years in reverse order.

  • You can select filter options if you want to view specific accounting codes.

• Trial Balance

  The Trial Balance in a listing of the name and balance of each account in the general ledger, showing which accounts have debit balances and which accounts have credit balances.

  • With the FAST Finance Trial Balance report, you can quickly drill down to view details and summarized finance data. You have the option to drill down and view document details and line items.

  • You can display a high level overview of all accounts or you can filter by accounting codes, Fund or Organization Financial Manager, Fund Type or Account Type  to summarize the Trial Balance.

  • You must specify the fiscal period.

For both types of Balance Sheets, you can drill down from the Summary to the Details, then the Transaction Detail and from there, the Document Details. For the Trial Balance, you can quickly drill down to the Transaction Detail and then Document Details.

What do you want to do?

• Read an overview of the Balance Sheet

• Open the Balance Sheet

• Open the Transaction Detail from the Balance Sheet

• Open the Balance Sheet - 5 Year Trend

• Read an overview of the Trial Balance

• Open the Trial Balance

• Attach a file to a document

Related Topics

• The FAST Finance Menu Structure

• About Operating Statements

• About Financial Statements

• About the Query Builder