What Are Balance Sheet Accounts

 

In Accounting, balance sheet accounts are Permanent Accounts i.e., accounts having balances and are not closed like temporary accounts and at the end of the accounting period, these accounts are transferred to balance sheet on a specified date of time.

Balance sheet accounts include Assets, Liabilities and Owner’s Equity or Equity Account. These accounts are finalized in Post-Closing Trail Balance before the start of the new accounting or fiscal year.

Balance sheet accounts are also called Real Accounts as Assets and Liabilities are related with real accounts.

Major Lists / Examples of Balance Sheet Accounts are Cash, Accounts Receivable, Inventory, Furniture & Fixture, Plant & Machinery, Accounts Payable, Loans, Owners' Equity, Shareholder's Equity etc.