The quick answer
To run a balance sheet in NetSuite, open Reports > Financial > Balance Sheet. Confirm the as-of period or date and reporting scope, refresh, then review assets, liabilities, and equity. Check that the two sides balance for the same report context.
The balance sheet shows balances at a point in time. This walkthrough checks the reporting period first, then follows the totals through to assets and liabilities plus equity. The screenshots use sample data and fictional person and operating-company names.
Before you start
Your role needs financial-report access. Know the reporting period and subsidiary or consolidated scope you intend to review. Report-by-period preferences, filters, and permissions can affect the available controls and results.
01. Open the Balance Sheet
Go to Reports > Financial > Balance Sheet. Confirm the report title and wait for the report to load.
The menu opens a report of accounting data. It does not create or change a transaction.
02. Confirm the as-of period
Review the footer’s End Of, As of, and Column controls. The example uses This Period, Jul 2026, and Total.
Confirm any subsidiary or other scope filters your account displays. If you change the settings, click Refresh and wait before relying on the numbers.
03. Review both sides of the balance sheet
Follow the asset groups and their totals, then review liabilities and equity. The sample shows Total ASSETS (3,020.88) and Total Liabilities & Equity (3,020.88). In this example, parentheses display negative amounts.
Those totals agree in the example. Agreement alone does not establish that each account is correct; investigate unusual balances using the supporting detail.
Check the result
- The as-of period and reporting scope are correct.
- Assets and liabilities plus equity are compared on the same basis.
- Unusual account balances have been identified for review.
You have the balance sheet for the selected context. Keep that context with any exported or shared numbers, and review account detail for balances that need explanation.
Common questions
How do I open the standard Balance Sheet report in NetSuite?
From the dashboard, go to Reports > Financial > Balance Sheet. Confirm the page title before reviewing results. The exact menu, report visibility, and financial-report permissions depend on your role and account configuration. In OneWorld, access to the relevant subsidiary or consolidated data may also be required.
Where can I find Total Assets and Total Liabilities & Equity?
On the Balance Sheet page, find Total Assets in the Assets section and Total Liabilities & Equity under Liabilities & Equity. Review both within the same As Of date or period and filter context. Available rows, labels, subsidiary filters, and classifications may vary by customization and account features.
How do I compare the two primary Balance Sheet totals?
Compare Total Assets and Total Liabilities & Equity only after confirming the same reporting context, including date or period, subsidiary, currency, classification, and accounting book where applicable. Equality is expected. Viewing or refreshing the report does not reconcile accounts, post transactions, approve entries, or change data.
What does an imbalance on the Balance Sheet indicate?
A difference indicates that the selected report output does not show the expected accounting relationship and requires separate investigation; running the report does not correct it. First verify filters, subsidiary or consolidated scope, currency, accounting book, and user access. In OneWorld, translation, eliminations, or cumulative translation adjustments may affect consolidated results.