Balance Sheet Template Excel
If you are assigned the task to make the balance sheet for your company, then you should take that job very seriously. The balance sheet is a critical paper or reports when it comes to the finance/accounting world. You can find below balance sheet template. Think of it as a financial statement of sorts. The basic premises of the balance sheet is that it summarizes a corporation’s assets and liabilities, current or otherwise. Through this report, you can see how a company chooses to distribute its resources and compare that information to rival businesses.
Balance sheets are essential as they inform the owner of the business of the net worth that their company has at a point in time. Given all that a balance sheet is capable of doing it is not too hard to make one. All you have to do is subtract the total liabilities from your company’s total assets. When you do that you end up with something called “Owner’s Equity.”
And it is just a fancy way of saying net worth, i.e., profits.
Equity= Assets – Liabilities
If you are one that has never made a balance sheet, then it might get tricky for you. But as soon as you understand all the subdivisions of assets and liabilities the hard part is over. For a more in-depth explanation of the subcategories such as current and long-term assets/liabilities, you can go and have a look at our other articles on the subject.
More on that later, for now here is a representative template for a standard balance sheet.
There are lots of ways to draw a balance sheet one balance sheet template described below.