Hello Judy,
Understanding your Balance Sheet is really important for your bookkeeping, so that you can see an overview of your business health. I'd be happy to clear this up for you.
A Balance Sheet report gives you a financial snapshot of your company as of a specific date. It calculates how much your business is worth (your business's equity) by subtracting all the money your company owes (liabilities) from everything it owns (assets). Your Gross Sales for this specified date range will be reflected on this report.
For more information on the Balance Sheet, take a look at the article called "What is a Balance Sheet report?"
Here's a few more resources you can take a look at:
If you have any other questions about your reports in QuickBooks Online, I recommend consulting with your accountant. If you're not already connected to an accountant, you can find one in your area here: https://quickbooks.intuit.com/ca/find-an-accountant/.
Let me know if you need help with anything else.
Have a great day!
