Understand Your Balance Sheet
What you own, what you owe, what you're worth
A Balance Sheet is a snapshot of your business at a single moment: assets, liabilities and equity. On BillRyt's Agency and Merchant plans it's generated automatically from your double-entry ledger — and it always balances to the cent.
The three sections
Assets — what you own
Cash in the bank, and money your clients still owe you (accounts receivable). Merchant plans also include stock on hand.
Liabilities — what you owe
Unpaid supplier bills (accounts payable) and tax you've collected but not yet remitted.
Equity — what you're worth
Assets minus liabilities: the net value of the business, including profit retained from your P&L.
It always balances
Assets = liabilities + equity, guaranteed by double-entry. If it didn't balance, something would be wrong — and it never is.
Reading it in BillRyt — step by step
Open Financial Reports
On an Agency or Merchant plan, go to Books → Financial Reports and choose the Balance Sheet tab.
Pick the as-at date
A Balance Sheet is a point-in-time snapshot. Choose the date you want to view your position as at.
Read assets, liabilities, equity
Assets are what you own, liabilities what you owe, equity the difference — your stake in the business.
Confirm it balances
Assets equal liabilities plus equity. BillRyt's double-entry ledger keeps it balanced automatically.
Frequently asked questions
What is a Balance Sheet?
A snapshot of what a business owns (assets), owes (liabilities) and is worth (equity) at a single point in time.
How is it different from a P&L?
A P&L covers a period; a Balance Sheet is a single moment. The profit from your P&L flows into retained earnings on the Balance Sheet.
Why does it always balance?
Double-entry: every transaction posts equal debits and credits, so assets always equal liabilities plus equity — to the cent.
Which plans include it?
It's part of built-in accounting on Agency and Merchant, alongside the P&L, Cash Flow and Trial Balance.