# Balance Sheet

The Balance Sheet gives you a picture of your business's financial position at a specific point in time. Unlike the [P&L](/reports/profit-and-loss.md) (which covers a period), the Balance Sheet is a snapshot - it answers the question: _what does my business look like right now?_

Go to **Accounting** → **Balance Sheet**.

{% hint style="warning" %}
The Balance Sheet is not available during Kick trial period. Upgrade to Basic or above to access it. You'll also need to submit [opening balances](/setting-up/opening-balances.md) before the report will populate.
{% endhint %}

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### What you're looking at

The report is organized into three sections:

* **Assets** - what the business owns: cash, accounts receivable, equipment, and other holdings
* **Liabilities** - what the business owes: credit cards, loans, accounts payable
* **Equity** - the net value of the business (assets minus liabilities), including your contributions, distributions, and retained earnings

Assets always equal liabilities plus equity. If they don't, something is miscategorized - your accountant can help diagnose it.

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### Change the date

Use the date picker to view the balance sheet as of any date. Presets include end of month, quarter, and year.

If you have multiple entities, use the entity dropdown to view a single business or all of them side by side.

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### Drill into the numbers

Click any account line to see the individual [transactions](/common-workflows/transactions.md) and [journal entries](/common-workflows/journal-entries.md) that make up that balance. This is useful if a number looks off and you want to understand what's driving it.

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### Columns and comparisons

Use the column selector to break the report down by month, quarter, year, or entity. Use **Compare** to show the prior period alongside the current one, with variance amounts or percentages.