You can comprehensively manage your balance sheet in Ambrook so you have access to it at any time. Having a balance sheet readily available can allow you to easily present your financials to the bank or potential business partners, allow you to track the outstanding balance of all your liabilities in one place, and have a better understanding of the value of your business.
Adding, editing and removing asset, liability and equity accounts in Ambrook is straightforward, and can be done using the following steps.
Adding Assets, Liabilities and Equity Accounts to Ambrook
You can add balance sheet accounts to Ambrook manually, or via import if you already have them in a spreadsheet or can download them from your previous accounting software.
Adding Accounts Manually
You can add accounts to your balance sheet by doing the following:
Go to the Accounts page.
Click New Account.
Choose the type of asset, liability or equity account you'd like to add.
Add the account name, starting date, and starting balance.
Account Name: Whatever will help you remember what the account is or match your other records.
Starting Date: Either the date you're starting your books in Ambrook, or if you acquired the asset or liability after starting your books in Ambrook, the date you bought the asset or got the liability.
Starting Balance: Value of the asset or outstanding balance on the liability as of the Starting Date.
Save the account. It will now appear on your Balance Sheet.
Importing Accounts
You can also import your balance sheet accounts to Ambrook by doing the following:
Go to the Accounts page.
Click the dropdown arrow next to New Account.
Select Import Spreadsheet.
Download the Accounts Excel Template and open it in either Excel, Google Sheets, or any other spreadsheet software.
Download your list of assets, liabilities and equity accounts from your existing software and open it in a spreadsheet, or open your existing balance sheet spreadsheet.
Copy your list of account names from your spreadsheet into the Ambrook template in the Account Name column.
Choose the appropriate account type from the Account Type column for each account.
Use the date of the balance sheet you're importing as the Opening Date column.
Use the account balance from the balance sheet as of that date as the Opening Balance column.
Save the spreadsheet as an Excel file (you can do this from Google Sheets as well by going to File -> Download as -> Excel).
Go back to the Accounts page in Ambrook and click Upload Accounts Excel.
Editing Assets, Liabilities and Equity Accounts
You can easily edit an account name, account type, starting date, and starting balance for an asset, liability or equity account at any time by following these steps:
Go to the Accounts page.
Click on the account you want to edit.
Scroll down to Details.
Click the pencil next to the field you want to edit.
Enter the new value.
Click Save or Confirm to finish.
Deleting or Removing Assets, Liabilities and Equity Accounts
Closing an account requires a $0 balance
An account must have a $0 balance in Ambrook before you can close it. If it still carries a balance, Ambrook will ask you to zero it out first.
How to properly $0 out an account
The goal is to get the balance to $0 by making sure the account's real activity is fully recorded — not by masking a discrepancy.
Open the account from the Accounts page and review its transactions.
Confirm every transaction is present and correctly categorized. For a loan, the principal portion of each payment should be categorized as a Liability Adjustment to the loan account, and the interest portion to an interest expense account.
If the real-world balance is paid off but Ambrook still shows a balance, reconcile the account to find what's missing, duplicated, or miscategorized. See How do I reconcile in Ambrook.
We don't recommend using Adjust Balance to force an account to $0 when the difference is caused by missing or incorrect transactions — that hides the underlying issue. Only use a balance adjustment for a legitimate true-up.
Removing the account
Once the balance is $0, you can fully remove an asset, liability or equity account — either for all reports going forward, or completely:
Go to the Accounts page.
Click on the account you want to remove.
Scroll down to the bottom of the menu.
Click Remove Account.
Choose the option based on your desired outcome:
Close Account: Excludes the account from reports going forward while keeping all historical data and transaction information. Recommended in most cases.
Delete Account: Completely removes the account and all historical data about the account. This cannot be undone.
Note: If the account is a connected bank, credit card or loan account, you will see a few options when you click Remove. With connected accounts, you can:
Hide the Account: Exclude all account data from your Ledger and analytics.
Stop Sync: Keep the account data already on Ambrook, but disable future transactions from syncing in. You can resume syncing at any time.
Close Account: Stop syncing and exclude the account from your reports going forward while keeping all historical data. The account balance must be $0 before you can close it — this is the right choice once a connected account has been closed with the bank.
To fully remove a connection and all of its accounts from Ambrook, use Disconnect at the connection level. If you don't see that option, please reach out to our support team for help.