The balance sheet and the income statement

To Bill produces your two main reports from the journal, at any time:

• the Balance sheet: what the business owns and what it owes, on a given date;
• the Income statement: what it has earned and spent over a period, and its profit or loss.

Before you start

These reports concern the financial years kept as full books. With simplified books, your reports are income and expenditure and the statement of assets: see Simplified books.

Experimental feature

Accounting is still in development. Check your figures with your fiduciary before you file any return.

Read the balance sheet

Open Accounting › Balance sheet.

1. Financial year: choose the financial year. Its status is shown next to the year: open, closing or closed.
2. Period: the balance sheet date. See Choose the date or the period.
3. Compare with prior year: adds the previous financial year’s column.
4. PDF and CSV: download the report as it is shown.

Under the bar, Assets = liabilities and equity checks that the two sides of the balance sheet are equal: Balanced.

Each item has an everyday name, with its legal term below it. What the business owns is the assets side: Available in the short term (current assets) and Invested for the long term (non-current assets). What the business owes, and its own funds is the liabilities and equity side: Debts due within a year, Debts due after more than a year and Own funds.

Click an item’s arrow to see its accounts, then an account to open its general ledger. In the Expert display, the accounts and their numbers are shown straight away.

An account on the other side of the balance sheet

An account whose balance runs against its nature, such as an overdrawn bank account, is shown on the other side of the balance sheet, marked reclassified. To Bill does not offset it against the other accounts of its item.

Read the income statement

Open Accounting › Income statement.

Revenue comes first. The expenses follow, as negative figures: Goods and materials bought, Salaries and social charges, Rent, expenses and other costs, then depreciation. Each subtotal is the sum of the lines above it:

• Result before depreciation, the EBITDA;
• Operating result, the EBIT;
• Result before taxes;
• Profit or Loss for the financial year.

Choose the date or the period

Click the period button, next to the financial year.

• For the Balance sheet, choose a date: End of the financial year, Today, the end of a quarter or a month, or Another date in the calendar, then Apply.
• For the Income statement, choose a period: Whole financial year, Year to date, a quarter, a month, or a Custom period.

The report’s status is shown next to the download buttons:

Status	What it means
Provisional	The financial year is not closed: the figures can still change.
Final	The financial year is closed: the figures will not change any more.
Interim	The report covers only part of the financial year.

The page’s address keeps the financial year, the period and the comparison: you can send it to your fiduciary, who will see the same report.

First financial year

In your first financial year in To Bill, the comparison with the prior year has no figures. If your books started with an opening balance sheet, its balances are the starting point of the balance sheet.

After the reports

• A company’s annual accounts consist of the balance sheet, the income statement and the notes: see The notes to the annual accounts.
• To finalise the financial year’s figures, see Year-end closing.
• For the detail account by account, see Trial balance and general ledger.

Legal basis

• The annual accounts consist of the balance sheet, the income statement and the notes: Art. 958 para. 2 CO. Their minimum structure: Art. 959a (balance sheet) and 959b (income statement) CO.
• The previous year’s figures are shown alongside those of the financial year: Art. 958d para. 2 CO.
• Assets and liabilities, and expenses and income, are not offset against each other: Art. 958c para. 1 no. 7 CO.