Balance Sheet
complete
Robert Martin
For buying stock or transferring cash into the account it would be great to have visibility of the cumulative totals in those non P&L accounts.
This would be a perfect stepping stone towards having a live balance sheet & cash flow statements and being able enter journals for stock utilization/write offs.
Write now the P&L is not usable for goods based businesss, as you don't have a cost of goods sold.
Astrid - Countingup
complete
You can now view your Balance sheet report. It shows the breakdown of your business assets (such as equipment your business owns or the balance in your Countingup account), your business liabilities (such as any tax due to HMRC or loans you’ll need to pay back) and the value of your business (equity).
You can use this information to know how much money you can take out of your business (e.g. cash, dividends or a salary).
The amount your business is worth is used to help you secure funding (such as a loan or a mortgage), or when selling your business.
Limited companies use this information to prepare and file annual accounts with Companies House.
Learn more here: https://countingup.com/resources/what-is-a-balance-sheet/
Astrid - Countingup
in progress
You want to find the categories you cannot see in the Profit & loss report. Soon you’ll be able to by viewing the Balance sheet report in-app. This report will sum up everything your business owns (assets) and deduct everything that it owes (liabilities) at any given moment in time. Read more about Balance sheet here: https://countingup.com/resources/what-is-a-balance-sheet/