Finacial Statement Analysis - How to

Entering data and balancing the balance sheet with opening retained income

Enter data into the loading screen data cells (the grey cells are self totaling and do not require data entry). Detailed information can be entered in the detailed window by clicking the + sign nest to the relevant row. 

If unsure which numbers go into which cells go to Loading Screen

Ensure your balance sheet balances
 
Total assets = Total liabilities + Equity
 
 
 
The difference row shows zero if balanced.
 
Also
Retained earnings (per the Balance Sheet) for the CURRENT period   = Retained Income per the income statement CURRENT period + Retained income per the Balance sheet PREVIOUS period). This is automatically calculated. Check to see if the calculated number agrees with your current period retained income per the balance sheet.
 
Opening Retained Earnings
 
Your balance sheet requires the value of the opening retained earnings for the first period of data entry.
The only way to enter the opening retained income is to click the + sign on retained earnings
 If you have adopted the oldest period first you must enter the opening retained income in the newest period
 
 
 

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