How do you know your business is thriving? It’s easy to know that your business is doing well when you can calculate a healthy net profit margin or when you are earning more than you’ve spent to get up to that point. But it can be tricky enough to simply survive. You will know you’re keeping your head above water when you prepare a financial statement using an appropriate Sheet Template. At the very least, your total revenue should match your total expenses. The document you use to figure this out is called a balance sheet.
This is plainly a crucial document that can be prepared in different ways. How do you go about preparing a balance sheet for your business? These free samples will show you.
Small Business Balance Sheet Template
Blank Business Balance Sheet Template
Why You Should Care About Your Balance Sheet
As a business person, you must already understand the importance of carrying out periodic assessments of your current financial standing at any given point in the fiscal year.
A balance sheet is where you will document the results of your assessment. The information you get from this sheet will let you know whether you are on course, you are heading into dangerous territory, or you are making a healthy profit and can therefore look into expanding and developing.
Very useful information, indeed.
And your shareholders, board members, and clients will want to know this information as well.
A balance sheet will record these things:
- Total liabilities or expenses
- Total revenues or gains
- Overhead costs
- Unexpected gains
- Bottom-line net profit or loss
Based on the official publication of this financial statement, your partners, managers, clients, and associates can recalibrate their standing in relation to yours. You will be asked for this sheet when applying for a loan or considering some expensive venture.
When it comes to shareholders and potential investors, you may also be asked to produce a Pro Forma Balance Sheet Template. This is a balance sheet showing a projected scenario of your business. Assuming current economic conditions persist, how will your financial standing change after you successfully pull off some planned transaction? This balance sheet will convince people to stick with you through the decision.
How to Start Drafting a Balance Sheet
Using any Balance Sheet Template we provide here on Template.net is a safe way to start. When drafting from scratch, you’ll want some samples to give you options and insight.
The samples on this list are selected for their simplicity while still having completeness of information for various types of businesses:
- Small Business Balance Sheet Template for when you’re in the fledgling stages of growth and need all the monetary support you can get.
- Project Construction Business Balance Sheet Template for independent contractors.
- Farm Business Plan Worksheet Balance Sheet for agricultural businesses operating on a seasonable basis.
If you’re anyone else, the Free Business Balance Sheet Template (Excel format) and the Blank Business Balance Sheet Template (Word doc/docx) are easy ways to get started.
Free Business Balance Sheet Template
Project Construction Business Balance Sheet Template
Farm Business Plan Worksheet Balance Sheet
Let’s take a step back and examine the causes of your financial situation. How can you make sure you’re not throwing your balance sheet completely out of balance? Use a Budget Sheet Template to monitor your expenditure and control where your money is going.
For even more useful financial forms and business sheets, just hit up our archives under the Business tab.