Free Balance Sheet Template
Strategy State has put together a Balance sheet Template. This template enables entrepreneurs to review their debts and assets of your company.
The free Balance sheet tool will help you analyze the relationship between your assets and liabilities at a specific point in time within your business.
What Is A Balance Sheet?
A balance sheet, also known as a statement of financial position or statement of financial condition, lists your assets, liabilities and the capital of your business.
It is a snapshot in time, usually conducted each year.
A balance sheet helps you understand the relationship between your debts (liabilities) and your assets. A balance sheet is often described as a "snapshot of a company's financial condition.”
The Balance sheet is one of three financial statements that companies utilize, along with the Profit and Loss Statement and the Cash Flow Statement.
How To Use The Balance Sheet Template
Download this simple and free Excel tool to help improve your business.
To use this template, simply input the figures into the column’s on the left side.
Start by adding your current assets. This includes your cash, petty cash, inventory, and prepaid expenses. These comprise your liquid assets.
Then add the fields for your fixed assets. These are all your assets that are non-liquid and can’t be turned into cash quickly.
The template will automatically calculate your total assets.
Now you can input your figures into the template for your current and short-term liabilities. These include things such as accounts payable, wages, income tax, etc.
After this, add your long-term liabilities. These are things such as loans on real estate etc.
At this point, the balance sheet template will automatically calculate your total net assets, and your working capital.
This information is useful to analyze over time, and you can compare your position from year to year.
This free business tool works great when developing a business after it has been fully evaluated using Strategy State’s Business Evaluation Tool.
Click below to download your free business tool:
