Balance Sheet Report
The Balance Sheet report in Rentec Direct helps landlords and property managers see their overall financial position and confirm that their accounts are balanced. Review your total assets, liabilities, and equity to understand what your business owns, owes, and retains.
Learn more about Assets, Liabilities, and Equity Accounting with Rentec Direct
A balanced account means your Total Assets equal your Total Liabilities plus Equity:
Total Assets = Total Liabilities + Equity
This accounting equation helps you identify potential discrepancies and keep your financial records accurate.
Run the Balance Sheet Report
The Balance Sheet report gives you a snapshot of your account's financial position as of a specific date. Use it to review your financial standing and check whether your accounts are balanced.
Note: The Balance Sheet report includes active and archived properties as of the selected date.
In your Rentec Direct account:
- Click Reports
- Under Accounting, click on Balance Sheet
- Enter the Report Date and if you would like to Hide Inactive Accounts or include them
Tip: If the Total Assets does not equal Total Liabilities + Equity, try running the Balance Discrepancies report to quickly identify and update transactions with missing information to bring your account into balance.
Pro Tip: Schedule your Balance Sheet report to be automatically emailed to you weekly or monthly. Regular reports make it easier to monitor your account balances and catch potential discrepancies.