At this point, the Balance Sheet isn’t providing a complete picture, as it’s missing key transactions that are typically expected to appear. It is NOT a Balance Sheet we could ever use for any purpose outside of Stessa (ie banking).
I only find Capital expenditures showing on the Net Cash Flow report. These should show as Other Assets on the Balance Sheet.
Equity
Net Income or Retained Earnings from previous year are not showing on the Balance Sheet under Equity.
I understand Transfers do not show up in any in the Balance Sheet or the Income Statement, but Owner Contributions and Distributions are not actual transfers in the accounting sense. These should be classified under Equity on the Balance Sheet, as they represent Owner Contributions and Distributions—not movements between bank accounts. A transfer typically refers to activity such as moving funds from a checking account to pay a credit card, which is not the case here.
Would it be possible to submit a suggestion to have Capital Expenditures, Net Income, Retained Earnings, and Owner-related accounts properly aligned with GAAP standards and included in the Equity section of the Balance Sheet? I’d be happy to discuss this further with your team if helpful.
For cases where financials are submitted to a bank—this presentation is not appropriate and does not accurately reflect the company’s true equity position.
Also, could you clarify how the total Equity figure is currently being calculated? Is it simply the difference between Assets and Liabilities? Ideally, the Balance Sheet should clearly outline the specific components that make up the Equity section.