Or you could also view this balance sheet here as the balance sheet at the beginning of month two. And the main thing to realize is income statement tells you what happens over a time period, while balance sheets are snapshots, or they're pictures at a given moment-- snapshots. So this tells us essentially what did I have. The balance sheet, and profit and loss statement are two of the three financial statements companies issue regularly. Financial statements provide an ongoing record of a company's financial ... I'm just not sure why a model won't balance in projected years if the historical year balances. For the projected years, it requires very specific numbers occasionally. It sounds like you don't fully understand the offsetting adjustments to the balance sheet . Sep 30, 2011 · If there are more than one causing the problem, you’ll need to do more research. Start by pulling a Balance Sheet report for All Dates and then select Month for Columns. Find the first month that it doesn’t balance, then change the dates to that month and select Day for Columns to find out what day doesn’t balance. Mar 11, 2019 · A post-closing trial balance is a listing of all balance sheet accounts containing non-zero balances at the end of a reporting period . The post-closing trial balance is used to verify that the total of all debit balances equals the total of all credit balances, which should net to zero.