It is one of the important financial statements at the moment of preparing the budget for any organization. It shows what the organization owns and what it owes at a specific moment. In other words, it shows the organization’s assets and obligations towards others as well as the rights of its owners.
This sheet enables the owners of the organizations to track the financial position of their organizations, the net capital, and to track the liabilities- assets ratio, and to estimate the extent of the continuity of the organization and its ability to pay its obligations.
Through Qoyod, the user can compare the statement of financial position with a previous period (week – month – quarter – year) and specify the number of time periods to be compared. In addition, they can specify the level of the account to be shown in the statement of financial position or only showing the type of account.
You can view the balance sheet “Statement of Financial Position” by clicking on the drop-down menu of “Reports” then selecting “Balance Sheet”
In the balance sheet, there is an advanced analysis feature that enables you to show specific items of assets, liability, and equity according to your preferences through the “Filter” option. It could be done either through custom fields that show you the value of each item’s accounts separately, such as the statement of financial position of a particular branch, or through product, projects, customers, vendors, employees, and finally locations and stores. You can compare the statement of financial position between several items through the “Dimension Query” option by selecting several custom fields, products, projects, or several customers/vendors as well.
Using the inspect feature, you can see the details of the amounts shown in the report, such as the amounts for each customer, as well as for suppliers, locations, products, projects, employees, and finally documents.