Balance Sheet Template
A balance sheet, income statement and cash flow statement, is one of the key financial statements used to check a company’s financial position. It reviews the company’s liabilities, assets, and owners’ equity it’s used to calculate the net worth of the business.
In short, a balance sheet shows what a company owns and what it owes, as well as the amount of shareholder investment. A company’s assets must equal its liabilities + shareholder’s or owner equity.
How to Read a Balance Sheet:
Understanding a company’s balance sheet is important to confirming it has a solid financial position. Usually, when assets are greater than liabilities, this represents a strong financial position. Conversely, when liabilities are greater than assets, this represents a weak financial position and a company with lower value.
A company’s balance sheet can help the owners and managers evaluate its strengths and weaknesses, and make proper plans to move forward.
Balance sheets can help a business find trends and are commonly used when dealing with potential investors, such as banks and vendors.
I have provide a template of a balance sheet which can be downloaded (below link is available) and used for any type of business. It should be customized to include the specific asset and liability categories that apply to the company.
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How to fill the Balance Sheet Template
To fill out this excel format of balance sheet, follow the following steps;
- Download the balance sheet template by clicking on below link.
- Open file in Ms.Excel
- Enter your Company Name and the Date all figures are reported as of in the report header.
- Enter the ‘Start Date to End Date’ as MM/DD/YYYY in the Current Period and Prior Period column headers.
- Enter the applicable values into their respective cells.
- The total amounts will automatically populate based on the inserted formulas.
Note: The Total Assets and Total Liabilities and Equity figures should always be equal. If they are not equal, the Balance Sheet Check row will indicate an error by highlighting the column with an issue.