Startup Balance Sheet Template

What is a startup balance sheet? ‍

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. 

What is an opening balance sheet for a startup? 

‍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.  

Is this the same thing as a balance sheet forecast? 

‍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.

What is not included on a startup balance sheet?

‍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:

• Accounts Receivable - You won’t have any accounts receivable yet because you haven’t sold anything to customers yet.
• Retained Earnings - Retained earnings is the cumulative amount of profit generated by the business.  Since you have not opened yet, your startup balance sheet is unlikely to include any retained earnings. 

Should goodwill be included on a startup balance sheet? 

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.

What should be included on a startup balance sheet? 

‍All balance sheets should have the company’s assets, liabilities, and equity.  For a startup your balance sheet might include the following:

Current Assets

• Cash in bank
• Inventory
• Prepaid expenses
• Other current assets

Fixed Assets

• Machinery & equipment
• Furniture & fixtures
• Leasehold improvements
• Land & buildings
• Other fixed assets

Other Assets

• Intangibles
• Goodwill
• Other

Current Liabilities

• Accounts 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

Owners' Equity

• Invested capital