QuickBooks Tip: How to Run a Balance Sheet (For Office Staff & Admin Teams)
If you’re part of the office team or admin staff responsible for managing a business’s finances, understanding how to run and read a balance sheet is essential. Whether you're handling day-to-day bookkeeping, assisting leadership, or supporting the financial health of your company, this foundational QuickBooks skill is a must-have.
What Is a Balance Sheet?
A balance sheet is a key financial report that provides a snapshot of the company’s:
Assets – What the business owns (cash, inventory, equipment)
Liabilities – What the business owes (credit cards, loans)
Equity – The net value of the business (assets minus liabilities)
This helps the business owner—and the team—understand its overall financial health at a specific point in time.
How to Run a Balance Sheet in QuickBooks Online
Log in to your QuickBooks Online account
Go to the Reports tab
Type in and select “Balance Sheet”
Choose your desired reporting date
Click Run Report
You can print or export the report as a PDF or Excel file for meetings, tax prep, or financial reviews.
Why This Matters for Office Teams
✅ Supports informed decisions for budgeting and spending
✅ Provides insight into the company’s debts, assets, and net worth
✅ Ensures accurate reporting to accountants or leadership
✅ Helps avoid costly errors before tax season or audits
Office staff who understand financial reports can offer more strategic support and become a stronger part of the business’s growth.
Common Mistakes to Avoid
❌ Not reconciling accounts before running reports
❌ Overlooking loan balances or equipment purchases
❌ Only focusing on the Profit & Loss report
❌ Forgetting to update asset values over time
FAQ
Q: What’s the difference between a Balance Sheet and Profit & Loss report?
A: The Balance Sheet shows the business's overall financial position at a moment in time. The Profit & Loss shows income and expenses over a time period.
Q: Can I learn this quickly as an office admin?
A: Yes! We offer 1:1 training to help you master QuickBooks without stress.
Q: What if I find errors in the report?
A: It’s common! Book a call with us and we’ll walk you through how to fix them.
📅 Want to feel confident running financial reports?
Book a free call with Dr. Bryan Raya, QuickBooks ProAdvisor:
👉 https://calendly.com/dbr_bookkeeping/book-a-free-call-with-dbr
Let’s start Doing Business Right.
#QuickBooksTraining #OfficeStaffTips #BookkeepingSupport #BalanceSheetBasics #SmallBusinessFinance #DBRBookkeeping #DoingBusinessRight