mcnim@shaw.ca Posted February 1, 2014 Share Posted February 1, 2014 I'm new to Express Accounts and attempting to do my Chart of accounts. When I bring up the Balance Sheet report The layout seems to be different from any other accounting package I have worked with. It nets the asset by subtracting the liability from the Asset total. I was taught that the Asset total = liabilities + equity Am I doing something incorrectly with my set up. Thank you Carolyn Link to comment Share on other sites More sharing options...
N_C_H_OMG Posted February 3, 2014 Share Posted February 3, 2014 Express Accounts does display 'Total Equity' value at the bottom of balance sheet, which is same as Net Assets. I am guessing this is just the matter of difference in terms. Total Equity = (Total Assets - Total Liabilities) = Net Assets. Link to comment Share on other sites More sharing options...
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