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Monday, 09 April 2018 20:15

Assets = Liabilities + Equity

Assets = Liabilities + Equity

At the end of the company’s reporting period, a snapshot is taken of the company’s financial health. A balance sheet allows owners to get a glimpse into the company’s financial standings. The balance sheet is one of the three primary financial statements that business owners use. It allows owners to get a glimpse into the company’s financial standings and see what the company’s financial position is. It shows what assets are owned, which liabilities are outstanding, and any equity that has been made.

Assets
Assets are the things companies own and are categorized into two categories; current and non-current assets. Current assets are defined as cash and any other asset that will be turning into cash within the company’s operating cycle. Assets are the top part of the balance sheet and will be listed in the order of liquidity. Liquidity meaning that this item can be turning into cash quickly. An example of what order current assets would appear on the balance sheet is; cash, temporary investments, accounts receivable, inventory, supplies, and prepaid expenses.

Non-current assets are not intended to be turned into cash with the company’s operating cycle and are what the company owns. They’re the fixed assets such as office equipment, building property, land, long term investments, stocks and bonds.

Liabilities
Liabilities are financial contracts that require a payment of cash for compensation. Liabilities are also categorized into two categories; current and non-current liabilities. Current (or short term) Liabilities are obligations that are to be paid within 12 months or expected to be paid off within its normal operating cycle. Some examples of current liabilities are accounts payable, wages, and rental payments.

Non-current liabilities, also known as long term liabilities are financial contracts that are not due within 12 months, or within the company’s operating cycle. They’re not expected to be liquidated anytime soon. Long-Term liabilities indicate how much the company is currently in debt vs it’s cash flow. Some examples of long term liabilities are bonds payable, long term leases, and product warranties.

Equity
Equity is what is remaining after you subtract what you own (assets) from what you owe (liabilities) and is called net worth. After all debits and obligations have been paid for any remaining values belong to the business owners, also known as owner’s equity.

Want to learn more?
Accounting can be very challenging. We find that most business owners don’t know where to get started. On Wednesday April 25, 2018 at 11:00 AM EST we will be presenting a webinar called “Tools Your Business Can't Live Without: The Only Accounting Guide You'll Need.” Content that will be covered in the webinar will include going over the principles of accounting. Our webinar will ensure that small business owners will have the tools to understand their finances. Topics that will be covered in this webinar are Introduction to Cash Flow, Income Statements and Balance Sheets.Visit the link below for more details.

CLICK HERE TO SIGN UP FOR THE WEBINAR TODAY!

Crystal Williams, Web Marketing Assistant, WebSan Solutions Inc.,a 2017 Microsoft Modern Marketing Innovation Award Winner

 

Published in WebSan Blog

Ever had your boss ask you to pull a report which meets a specific set of criteria or sat scratching your head trying to pull up a record, but could not recall the exact details? With Advanced Find in D365, you can find exactly what you are looking for in just seconds. Advanced Find is the most powerful and robust tool in Dynamics 365 for searching. Using intuitive, user friendly features, you can quickly create queries and search your entire D365 database with ease.

At first glance Advanced Find may appear a bit intimidating, however once you become familiar with it, you will find yourself using it all the time, and wonder how you ever worked without it.

Continue reading to learn everything you need to know to get started using Advanced Find today!

The Advanced Find button is simple to locate, no matter which screen you are on, because it is housed in the D365 navigation bar.

adv find pic 1

Once you click on the adv find pic 2 Icon, a window like the following will appear.

adv find pic 10

In this window you can find every entity in D365 by clicking on the “Look for” drop down. In the drop down, select the record type you wish to perform a search on.

adv find pic 4

Next in the Details area, choose the fields you want to perform the search on, the query operator (equals, contains, begins with...), and the data value.

adv find pic 5

You have the ability to add multiple conditions, so repeat these steps for each condition of your query. By default, all conditions are processed as an AND condition.

adv find pic 6

To display results matching any of the specified requirements you will need to add an OR grouping. To do so, select the arrow next to each of the field names that you want to include as an OR statement, and choose Select Row. Then in the navigation bar, select Group OR.

adv find pic 7

Once you have entered all your query conditions, click Results in the ribbon.

adv find pic 8adv find pic 9

See, that wasn’t so hard was it?

Now that you know the basics for using the Advanced Find feature in D365, you can query the system with ease and find exactly what you are looking for. However this is just the tip of the iceberg.

If you need assistance, have questions, or want to learn more about the Advanced Find feature, please reach out and email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

Published in Dynamics 365