Balance Sheet

English Template (6) (1).png The Balance Sheet is the report that provides an accurate snapshot of your company’s financial standing at a specific point in time.

In Wafeq, this statement is automatically updated based on all your accounting entries. It clearly presents what the company owns (Assets), what it owes (Liabilities), and the Owner’s Equity value.

In this guide, we will go step by step through how to use the Balance Sheet report, understand its components, and interpret its results.

Why Is the Balance Sheet Important?

The Balance Sheet helps you:

Determine the company’s financial position: It shows the total value of what the company owns and owes, providing an accurate snapshot of the net equity position.
Evaluate liquidity and solvency: It allows you to assess whether the company’s available assets are sufficient to cover its short-term and long-term liabilities.
Track asset growth and investments: It helps you understand how the company’s assets evolve over time and how efficiently its resources are being utilized.
Analyze capital structure: It reveals the company’s reliance on equity versus debt financing, supporting better strategic decisions on borrowing or capital increases.
Measure financial performance over time: By comparing balance sheets from different periods, you can evaluate whether the company’s financial position is improving or weakening.
Enhance transparency and trust: Having an accurate, up-to-date balance sheet strengthens the company’s credibility with investors, banks, and regulatory bodies.

Reports Interface Details

The Reports interface has been redesigned with greater accuracy and organization to provide a more efficient and flexible reporting experience, making it easier to access, review, and analyze your business data based on your operational needs.

Available Features in the Reports Interface:

Pin Reports Feature:
You can pin your most important or frequently used reports by clicking on the “Pin” option, allowing them to appear at the top of the Reports page for quicker access without needing to search through all reports each time. You can also unpin reports at any time by clicking the same option again.
Summary or Detailed View:
When selecting a report, you can choose how you would like the data to be displayed:
1 - Summary View to display key information such as accounts and amounts.
2 - Detailed View to access more in-depth information such as customers, notes, or any additional details added to your transactions.
This feature helps you analyze your data with the level of detail that best suits your needs.
Reports Categorization:
Reports are organized into clear categories to help you quickly find the right report based on the type of information you need, such as reports related to cost centers, projects, and other classifications.
This organization saves time and effort while providing more accurate and structured reporting insights.

Viewing and Understanding the Balance Sheet in Wafeq

To view the Balance Sheet report, go to the "Reports" section in the main menu, then select "Balance Sheet" under the "Financial Reports" category.

The Balance Sheet in Wafeq displays the complete financial position of your company at a specific date, as shown at the top of the report (in this example, as of August 31, 2025).

The report is automatically divided into three main sections: Assets, Liabilities, and Equity, allowing you to trace how your company’s resources are funded and allocated with precision.

It typically begins with Assets, where cash and bank balances are displayed at the top, followed by current assets such as accounts receivable, inventory, and prepaid expenses. This structure helps you quickly assess the company’s liquidity and available operational resources.

Next, the report presents Liabilities, representing what the company owes to suppliers and other parties, followed by Equity, which reflects the company’s net value after deducting liabilities from assets.

Actions and Options

From the top of the report, you can perform several actions, such as:

Selecting the currency in which the report is displayed.
ِAdd Filter by branch, project, or cost center.
Exporting the report in PDF or Excel format.

Please note that the report’s columns are fixed and cannot be modified or hidden, as they contain essential financial information required for accurate reporting.

The Compare Period field in the filter panel allows you to define how to display the selected time range using the “As of” option.
You can either:

Show each account’s balance by month for side-by-side comparison, or
Display the total balance for each account at the end of the selected period.

This flexibility helps you analyze financial changes over time and understand how your company’s position evolves from one period to another.