Use this free excel template to generate a beginning balance sheet for your new business startup. This opening balance sheet template simplifies the balance sheet process by asking plain language questions and then a balanced balance sheet will be generated from those answers.
A startup balance sheet could mean different things to different people depending on the context. For example, some companies might be considered a startup for years after launching the business in which case a startup balance sheet might just mean a balance sheet for an early stage business. If this is your situation, you should use our free balance sheet spreadsheet template.
If you need a balance sheet for a true startup, a business that has not yet started, then our startup balance sheet template is for you. Our startup balance sheet assumes that you will enter in your assets, liabilities, and equity that you expect to have on day 1 of your operations. For example, if you are opening a restaurant you might invest some of your own cash, you might get a loan, you might buy some equipment and some initial inventory all before you officially open for business. These are the types of items you should include on your startup balance sheet.
Typically an opening balance sheet is simply the balance sheet for a company as of the first day of a particular period. So you could have an opening balance sheet as of the first day of your fiscal year, but in the context of a startup, an opening balance sheet is likely considered your balance sheet as of the date that you open for business.
No. This template is a current balance sheet as of the day that you open your startup. Learn how to create a balance sheet projection with our in depth guide.
A startup balance sheet is similar to a balance sheet for any existing business, but given that the business has not yet opened for operations there are a few line items that a startup balance sheet likely won’t include:
Goodwill should only be included on an opening balance sheet if the new business was acquired. Goodwill on the balance sheet is created in an acquisition. You can learn how to calculate goodwill for your balance sheet for an acquisition with this video guide.
All balance sheets should have the company’s assets, liabilities, and equity. For a startup your balance sheet might include the following: