Financial statements are very essential for any business. A balance sheet is one of the many financial statements that documents the summary of a company’s assets and liabilities. Basically, the information on company resources and comparison with the finances of the other companies. You would require a sheet template to create competent balance sheets for accounting business.
6 Steps to Create a Balance Sheet in Excel
Step 1: Open a New Document
Before you start working on a balance sheet, you need to first open a blank document. Since it’s relatively easier to calculate in an Excel sheet, we will make the document here. Click ‘New’ from the File Tab, located at the top of the screen.
Step 2: Set Basic Equation
Once the new document is open, now we will start with the balance sheet. Firstly, we need to understand the basic accounting equation which includes three elements: Assets, Liabilities and Owner’s Equity. The basic equation would be something like:
Assets= Liabilities + Owner’s Equity
Step 3: Add Assets
Now you need to list down the Assets of the company. Short-term assets mainly refer to the inflow of cash, receivable accounts while the long-term assets include company investments, cost of property and all the intangible assets that don’t require tax deductions.
Step 4: Add Liabilities
Current and longterm Liabilities include the payable accounts within one year, the short term loans and payable income taxes. While long-term liabilities include the long-term debt, lease agreements and the deferred income tax amounts.
Step 5: Calculate Owner’s Equity
The owner’s equity basically involves the owner’s investment and the retained earnings which are reinvested in the company. There are even more in the equity list like the treasury and common stock. Add all the amounts and you will get the Total Owner’s Equity.
Step 6: Calculate
After you have mentioned and added all the amounts in the balance sheet, now you will need to place all the amounts in the basic accounting equation. You need to check if the sum amount of Total Liabilities and Total Equity is equal to the Total Assets. If the amount doesn’t match, then you will have to double-check the data once again.
16+ Balance Sheet Templates
1. Balance Sheet Template
If you are in need to draft your company’s assets and liabilities in a financial statement, then you will love to use this Balance Sheet Template on your device. Instantly download this template in Google Docs, Sheets and Apple Pages and Numbers as well. You can easily create an official document to get a report on your company’s finances whenever you need it.
2. Trial Balance Sheet Template
Whenever you are dealing with any business transactions, you will need to draft an accounting document that lists all the credit and debit balances. Don’t worry if you need one. We have the best balance sheet template for this purpose. Get this Trial Balance Sheet Template with ready-made content and professional outlook, giving you ample opportunity to create an impression on your supervisor.
3. Accounting Balance Sheet Template
Are you evidently looking out for accounting balance sheet for your business? Now you can keep track of all your company assets and liabilities with the help of our Accounting Balance Sheet Template, available in Google Sheets, MS Word and also in Pages format. Its compatibility helps you to place it on any device and edit it accordingly as you wish.
4. Simple Balance Sheet Template
It can be really tedious sometimes to create balance sheets for your company. Necessary documents require smarter decisions. Download this Simple Balance Sheet Template from our website, available in Microsoft Excel, Word and other file formats so that you can customize it with whatever additional information you want to include in then template to suit your preference!
5. Projected Balance Sheet Template
If you are in need to arrange all the cash flow, investments, assets and liabilities of your company in a single balance sheet then you will need the assistance of this Projected Balance Sheet Template, which is available to download in multiple file formats such as Apple Pages and Numbers, along with others. Now add as many intangible assets as required by downloading this template right away!
6. Free Balance Sheet Template
Are you trying to make a report of your company’s liabilities, assets and miscellaneous charges as well? Why don’t you quit wasting time and download this Balance Sheet Template from us? It comes in MS Word and MS Excel to make it compatible with Microsoft devices. Downloadable anytime, anywhere, now you can enjoy the utility of this template whenever you wish.
7. Balance Sheet Quarterly Template
Have you included the cashless payments of your company in the balance sheet you created? you might get easily confused with what to include and what not! Don’t fret, as we have brought this exclusive Balance Sheet Quarterly Template for your device in multiple file formats you might need to create an ideal accounts document for your company.
8. Balance Sheet Example
It’s easy to get confused with the official document, especially when you are new to the business. Stop worrying and seek guidance from our latest balance sheet example, readily created for your device. The template comes in PDF format, so that you find it easier to add and customize information about your company to make it more informative and detailed.
9. Balance Sheet in PDF
Should you need a financial balance sheet, then we have one for you. Download this Balance Sheet in PDF for your favorite editor. This convenient balance sheet template will definitely guide a new user like you, so get this template form us as soon as possible so that you don’t regret later on. This well-formatted document is here to stay for your use!
10. Printable Bank Balance Sheet
Wondering where will you find an efficient monthly balance sheet to add all the company’s additional assets and liabilities in one page? Look no more, as your search ends here. Just have a look at our all-rounder Printable Bank Balance Sheet which is not only editable but also conveniently compatible with any device you use! So hurry and download this basic template now!
11. Formal Balance Sheet in PDF
Accounting work is quite difficult to handle when it’s a well-spread out business like yours. We understand your problem and that’s why we have brought this formal balance sheet in PDF so that you can download and use in your available editor to change whichever art of the content you like to match the preferences of your company.
12. Balance Sheet Format in PDF
Make sure you draft a balance statement outlining all the necessary bills and cash flow of your company using our Balance Sheet Format, available in PDF format for your device. It’s a legally compliant business document that will help you gain insight into the financial affairs of your company. Now you can easily add the future projections of your business assets whenever you like!
13. Balance Sheet Example
Get your hands on to our feasible Balance Sheet Example to help you with your accounting work. You will be able to check out all the assets, liabilities, intangible cash, investments and other such accounting trades of your company with the help of this balance sheet sample. The more you add information, the more effective this template will seem to be!
14. Basic Balance Sheet Template
When you are creating a financial balance report, you might face many difficulties. You might get stuck with the format, the details of what to include and might even not understand the business terms. The best way to do it is to download our Basic balance sheet template in PDF format so that you can easily add and customize the details to suit your company!
15. Provisional Balance Sheet
Do you want a balance sheet to add all the basic assets and equity of your company in one financial statement? Download this Provisional Balance Sheet in PDF format in order to make your template professional and easily available for customization by adding whatever required information you think is fit for your organization!