“Balance sheet Template“Being a business owner can be tough work, from making sure your business is doing good, to keeping an eye on your employees.
But perhaps the most important thing for a business to pay attention to is their monetary and financial details. This cannot only be said for businesses, but personal life as well. However, since we are talking about business, we will keep it at that. But as I said, keeping track of the financial and monetary details of a business is the most sensitive and important task for anyone. That is why keeping a balance sheet with you is very important. And you have come to the right place because we are offering you a simple balance sheet template for Excel that will help with your tracking.
However, before we go into detail about this particular blank balance sheet template, I would like to tell you a bit more about balance sheets and their use in the business world.
What is a Balance Sheet?
Before we get to balance sheet template excel, let me tell you a simple definition of what a balance sheet is. And if you are associated with business and management, it is not going to be a very new concept.
It is a statement that gives you an insight on your company’s financial condition. It reports on your company’s assets, liabilities, and ownership equity. A balance sheet is usually bought up after a specific time. Maybe half a year, or a year, that depends on the company. you may also like Bank Balance sheet Bank Balance Sheet Example
What are Asset, Liabilities and Equity?
To put it simply, assets are basically what your company has that might be useful, it could be the cash from the profit you make, it could be the property you company owns, it could be investments, equipment, buildings, land, anything that holds value for your company. On the other hand, liabilities are completely opposite of that, liabilities are something your company could be held accountable for. also check petty cash template excel
The money you owe to someone, the cash you have to pay, the services you are bound to offer. In very simple words, assets give you money, and liabilities take that money away from you. And if we add equity somewhere in there, it is basically the liabilities deducted from assets. It is the remaining interest of a company after all the liabilities have been deducted.
Balance Sheet Template
Now I’m pretty sure you have it figured out by now, but if your assets outweigh your liabilities, your company is not doing very good. As a company owner you have to make sure your assets outweigh your liabilities, or else you are not making any profit and your company might be on the verge of bankruptcy.
The formula below is what our blank balance sheet template uses:
Assets = Liabilities+ Equity
Now that all of that has been set aside, I’m sure you have realized making your own balance sheet is tough work. So we offer you a balance sheet template excel to make your job easier.
Balance Sheet Template Word
This balance sheet template has everything you need which you can use, and modify according to your requirements. It has a space for assets and all things related, and it has a space for liabilities as well. It also has all the potential sub headings you would require. So download it now!