Balance Sheet Excel Template

Description
This Balance Sheet is in an Excel format, meaning that you can just fill it in with Google Spreadsheet or Excel. You can print it instantly so that once its filled out you're good to go. It's a blank sample spreadsheet, meaning that you can use it again any time you need another balance sheet. It has been built with an intuitive design so you will find that is looks professional, simple, and clean. It can be fully customized to suit your needs; company details can be added and the spreadsheet format can be edited.

WHAT IS A BALANCE SHEET?

Also known as a statement of financial position, a balance sheet is a summary of an organization's balances at a certain point in time.

It is commonly understood or described as a snapshot of an accounting entity at a specific date and time.

The balance sheet has 3 main sections:

1. ASSETS
Assets refer to things that an organization owns that is said to hold future economic value.This includes anything that the company has bought for business purposes. (buildings, equipment etc)

2. LIABILITIES & EQUITY

Liabilities refer to the companies financial debt and also obligations.

Shareholder's equity makes up part of an organization's liabilities and includes the funds that are contributed by the owners as well as the retained earnings.

*Originally shared on toggl.com*