Free Balance Sheet Template

Free Balance Sheet Template

This balance sheet excel template is an easy-to-use tool that collects your data inputs through simple questions and then automatically generates your balance sheet for you! Plus it will tell you when it balances or if it doesn't. To make things even easier, we have created a step-by-step video guide that shows you exactly how to make a balance sheet so you aren't left with any confusion!

Learn how to create a balance sheet in minutes

Using this excel and google sheet balance sheet template you can generate a ready to use balance by just punching in your data as answers to the questions on the input tab

Perfect for use as a small business balance sheet applying for a loan or just trying to review finances.


Balance Sheet FAQs

  • What is a balance sheet?  A balance sheet is a financial statement that reports a company’s assets, liabilities and equity at a specific point in time.  
  • How to read a balance sheet? A balance sheet will show you the assets, liabilities and equity of a company.  The assets are at the top of the balance sheet, followed by the liabilities and finally the equity section at the bottom.  Your total assets should equal your total liabilities plus your equity.  
  • How to calculate retained earnings on a balance sheet?  Retained earnings is the cumulative net income over the life of the company.  So for example, if you have been in business 10 years and had a net income of $100,000 per year, your retained earnings would be 10 x $100,000 = $1,000,000.  
  • What is goodwill on a balance sheet?  Goodwill on the balance sheet is created when your company acquires another company for more than the net asset value of the company.  So for example, let’s say that you acquire a company for $1 million, but the net asset value of that company is only $700,000.  That would mean that $300,000 of the value of the company is goodwill.
  • What goes on a balance sheet?  Here is a list of common categories on the balance sheet:

Assets

Current Assets

Cash in Bank

Accounts receivable

Inventory

Prepaid Expenses

Other Current Assets


Fixed Assets

Machinery & equipment

Furniture & fixtures

Leasehold improvements

Land & buildings

Other fixed assets

Accumulated depreciation


Other Assets

Intangibles

Deposits

Goodwill


Liabilities and Equity


Current Liabilities

Accounts payable

Taxes payable

Notes, short-term (due within 12 months) 

Current part, long-term debt

Other current liabilities


Long-term debt

Bank loans payable

Notes payable to stockholders

LESS: short-term portion

Other long term debt


Owner’s Equity

Invested Capital

Retained earnings - beginning

Retained earnings - current

Total Owners’ Equity

  • What are assets on a balance sheet?  The most common asset categories to be listed on a balance sheet are:

Cash in Bank

Accounts receivable

Inventory

Prepaid Expenses

Other Current Assets

  • What are liabilities on a balance sheet?  The most common liabilities on a balance sheet are:

Current Liabilities

Accounts payable

Taxes payable

Notes, short-term (due within 12 months) 

Current part, long-term debt

Other current liabilities


Long-term debt

Bank loans payable

Notes payable to stockholders

LESS: short-term portion

Other long term debt

  • How to fill out a balance sheet?  To fill out a balance sheet you must enter in all of your current assets and liabilities along with owner’ equity onto a balance sheet template. 
  • What does a balance sheet look like? Below you will find an example balance sheet:

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