Sample balance sheet: Sample Balance Sheet and Income Statement for Small Business
Enter your assets — including cash, value of inventory, and short-term and long-term investments — as well as liabilities and owner’s equity. Completing the form will provide you with an accurate picture of your finances. This printable small business pro forma balance sheet template serves as your business’s financial statement over the course of a specific timeframe. Enter line items to quickly calculate your current and long-term assets, current and long-term liabilities, and owner’s equity. Once completed, you can identify where to make adjustments to improve profit and net worth.
Depending on the company, this might include short-term assets, such as cash and accounts receivable, or long-term assets such as property, plant, and equipment (PP&E). Likewise, its liabilities may include short-term obligations such as accounts payable and wages payable, or long-term liabilities such as bank loans and other debt obligations. Companies, organizations, and individuals use balance sheets to easily calculate their equity, profits, or net worth by subtracting their liabilities from their assets. A balance sheet also serves as a company or organization’s financial position over specified time, such as daily, monthly, quarterly, or yearly. We’ve compiled free, printable, customizable balance sheet templates for project managers, analysts, executives, regulators, and investors. Use these balance sheet templates as financial statements to keep tabs on your assets (what you own) and liabilities (what you owe) to determine your equity.
Free Small Business Balance Sheet Templates
The balance sheet tells you what your business owns and what it owes to others on a specific date. Last, a balance sheet is subject to several areas of professional judgement that may materially impact the report. For example, accounts receivable must be continually assessed for impairment and adjusted to reflect potential uncollectible accounts.
Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. Integrate your Wise business account with Xero online accounting, and make it easier than ever to watch your company grow. A balance sheet format can be broken down into two main sections – assets on one side, and liability and equities on the other.
Owner’s Equity (or Stockholders’ Equity for corporations)
The blank balance sheet template can be downloaded in a range of formats to suit your preferred software program, from Microsoft Excel and Microsoft Word to Google Docs or Google Spreadsheets. Additional paid-in capital or capital surplus represents the amount shareholders have invested in excess of the common or preferred stock accounts, which are based on par value rather than market price. Shareholder equity is not directly related to a company’s market capitalization. The latter is based on the current price of a stock, while paid-in capital is the sum of the equity that has been purchased at any price. Each category consists of several smaller accounts that break down the specifics of a company’s finances. These accounts vary widely by industry, and the same terms can have different implications depending on the nature of the business.
- You can save this daily balance sheet template as individual files — with customized entries — for each day requiring balance insights for any 24-hour period.
- The balance sheet and the income statement are two of the three major financial statements that small businesses prepare to report on their financial performance, along with the cash flow statement.
- Fill in this free balance sheet template in Excel to gain useful insight, and a more comprehensive overview of how your business is doing.
- Exactly how the equity is made up will vary from company to company, depending on the business type and stage.
Current liabilities are due within one year and are listed in order of their due date. Long-term liabilities, on the other hand, are due at any point after one year. The balance sheet provides an overview of the state of a company’s finances at a moment in time. It cannot give a sense of the trends playing out over a longer period on its own. For this reason, the balance sheet should be compared with those of previous periods. Now that we have seen some sample balance sheets, we will describe each section of the balance sheet in detail.
Investment Property Balance Sheet Template
Without knowing which receivables a company is likely to actually receive, a company must make estimates and reflect their best guess as part of the balance sheet. Different accounting systems and ways of dealing with depreciation and inventories will also change the figures posted to a balance sheet. Because of this, managers have some ability to game the numbers to look more favorable. Pay attention to the balance sheet’s footnotes in order to determine which systems are being used in their accounting and to look out for red flags. A liability is any money that a company owes to outside parties, from bills it has to pay to suppliers to interest on bonds issued to creditors to rent, utilities and salaries.
Check out these small business expense report templates to ensure that you capture company and employee expenses accurately. Try one of these free profit-and-loss template resources to ensure that you can accurately account for your balance sheet needs. Typically an opening balance sheet is simply the balance sheet for a company as of the first day of a particular period.
What Goes on an Income Statement?
Without context, a comparative point, knowledge of its previous cash balance, and an understanding of industry operating demands, knowing how much cash on hand a company has yields limited value. In addition to our balance sheet templates, our business forms also offer templates for the income statement, statement of cash flows, and more. The term current in a balance sheet generally means “short-term” which is usually one year or less. Balance sheets will show a more thorough overview of the security and investment health of a business, however they are both indispensable financial statements.
It is also convenient to compare the current assets with the current liabilities. Find more balance sheets and accounting templates in this collection of the top Excel templates for accounting. Download our basic balance sheet template xls to get a snapshot of your company’s financials using Excel.
Use this balance sheet for your existing businesses, or enter projected data for your business plan. Annual columns provide year-by-year comparisons of current and fixed assets, as well as current short-term and long-term liabilities. By reviewing this information, you can easily determine your company’s equity. This balance sheet template includes tallies of your net assets — or net worth — and your working capital. Download the sample template for additional guidance, or fill out the blank version to provide a financial statement to investors or executives. Use this simple, printable small business balance sheet template to calculate your small business’s year-to-year total assets, total liabilities, balance, and net worth.