Understanding your Balance Sheet (Guide depth)
The full statement, plus what to do if it doesn't balance.
Understanding your Balance Sheet at a glance covers reading the statement in plain terms — Assets, Liabilities, and Equity as of a point in time. This page covers the reference-depth extras.
If it doesn't balance
Assets should always equal Liabilities plus Equity. If BusinessCopilot flags that they don't, that's a real problem worth investigating, not a display glitch — start with the Trial Balance for the same date to see whether the whole ledger is genuinely out of balance, and check Reconciliation & Accounting Integrity Exceptions for a subledger (like receivables or payables) that's drifted from the ledger.
Cross-checking equity
Your Balance Sheet's Total Equity figure should always match the Statement of Changes in Equity's own closing equity for the same date — both are computed independently and cross-checked against each other.
Comparing periods
Go to Accounting → Comparative Financials to see Balance Sheet (and Profit & Loss) figures side by side against a prior period.