Balance Sheet
You can create a balance sheet for one date to get a snapshot of all of your assets at that moment. Or,
you can use two dates and the template will automatically show how the balance sheet changed from
the first to the second date. You could also use one (or two) time periods, such as monthly or quarterly.
If you do, use numbers from the last day of the period.
Once you’ve chosen the dates, review your financial records to fill out the balance sheet. Fill in the
totals on the given date for each row. For example, the total money you have in your business bank
accounts and in cash on the date goes next to cash under current assets.
If you’re unsure of a specific number, you can estimate the total revenue or expenses during the period.
The cells that have $0.00 already filled in will automatically update as you fill out the form.
At the bottom of the template, your total assets, liabilities and equity will also automatically update.
When you complete the balance sheet, the total of your liabilities plus equity should equal your total
assets. If they don’t, try to figure out which numbers may be too high or low.
Balance Sheet
Category Date 1 Date 2 (optional)
Add up the total value as of the date, or the last day of
Assets the period, you chose.
CURRENT ASSETS
Cash
Accounts receivable
Inventory
Prepaid expenses
Other current assets
Total Current Assets $0.00 $0.00
FIXED ASSETS
Furniture
Machinery and equipment
Vehicles
Land
Buildings
Other fixed assets
Depreciation
Total Fixed Assets $0.00 $0.00
OTHER ASSETS
Intangibles
Security deposits
Other
Total Other Assets $0.00 $0.00
TOTAL ASSETS $0.00 $0.00
Add up the total value as of the date, or the last day of
Liabilities the period, you chose.
CURRENT LIABILITIES
Accounts payable
Taxes payable
Wages and salaries payable
Customer deposits
The current portion of debt payments
Interest payable
Total Current Liabilities $0.00 $0.00
LONG-TERM LIABILITIES
Long-term debts
LESS: the current portion of debt payments
Rentals or leases
Other long-term debt
Total Long-Term Liabilities $0.00 $0.00
TOTAL LIABILITIES $0.00 $0.00
Add up the total value as of the date, or the last day of
Owners' Equity the period, you chose.
OWNERS EQUITY
Common stock/partners' equity
LESS: Owners' draws
Net Income
Retained earnings
Total Owners' Equity $0.00 $0.00
TOTAL LIABILITIES AND EQUITY $0.00 $0.00
TOTAL ASSETS $0.00 $0.00
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Notes and Descriptions
A balance sheet can give you a snapshot of your business's finance. Choose a specific date or use numbers from the end of a
time, such as the last day of a month. If you want, you can compare the results from different periods.
Assets are worth something today or will provide the business value later.
Current assets are cash and items that the business plans to use or sell within a year.
The money in business bank accounts plus any cash the business has outside of a bank account.
Money that other business or people owe the business for services/products that have already been sold.
Products, materials and other items that the business owns and plans to sell within a year.
Expenses the business paid for services ongoing or future services. For example, prepayments for an insurance policy.
Any current assets that don't fit in one of the other categories.
The total of the all the current assets.
Fixed assets are physical assets that the business will use for more than a year.
The furniture the business owns.
The machinery and equipment the business owns, including computers.
The vehicles the business owns.
The land the business owns.
The buildings the business owns.
Any fixed assets that don't fit in one of the other categories.
Use a negative value here. Depreciation is the value of the fixed assets that the business has already used.
The total of the all the fixed assets.
Any other tangible or intangible assets such as intellectual property or investments.
Non-physical assets, such as trademarks or patents, that the business owns.
Deposits the business paid to rent property or equipment that it will receive back later.
Other assets that don't fit any of the other categories.
The sum of the all the other assets.
The total current assets, fixed assets and other assets.
Liabilities are the money that a business owes other people or businesses.
Current liabilities are debts that must be paid within one year.
Money that the business owes others for products or services it received.
The tax payments that are due in the next year.
Wages and salary earnings that are owed to employees and haven't been paid yet.
Money that customers have paid for a product or service that hasn't been delivered yet.
The amount of loan payments and interest that's due in the next year.
Interest that has accrued, but hasn't been paid, and is due in the next year.
The total of the current liabilities.
Long-term liabilities are debts that the business will owe for more than a year.
The total amount principle balance (the amount that was borrowed) that the business still owes.
Subtract the current portion of debt payments from the current liabilities section. Use a negative number.
Equipment or property lease and rental payments, not including the current year's expenses.
The total amount of any other long-term debt that does not fit into the above categories.
The sum of the Bank Loans Payable, Notes Payable to Stockholders, Less: Short Term Position, and Other Long Term Debt fields.
The total current liabilities and long-term liabilities.
The money that’s left over if the business collects everything it's owed, turned its non-cash assets into cash and paid all of its debt.
Money that investors have put into the business in return for equity (i.e., ownership).
Money taken out of the business by its owners. Use a negative number.
An increase in income since the start of the fiscal year -- taken from the profit and loss statement.
A profit that was kept by the company rather than being distributed to the business owners.
The total of common stock and retained earnings.
The total liabilities and owners' equity.
The total current assets, fixed assets and other assets.
The "total liabilities and equity" should equal "total assets"
