Benefits: A balance sheet is a financial "snapshot" of your business at a given date in time. It includes your assets and liabilities and tells you your business's net worth. You've probably seen a formal balance sheet for other businesses, or have paid an accountant to do one for yours. If you would like to try preparing a balance sheet for your business, you can use the spreadsheet template, contained in the attached file, as a starting point. Just plug in your account balances and the spreadsheet will automatically compute all the subtotals and totals and tell you if your balance sheet doesn't balance.

Although the template is an example of a balance sheet for a sole proprietorship, you can quickly modify it for a corporation or partnership. You can add or delete account titles, revise the format, or otherwise modify it to suit your needs.

File Description: The file contains a Microsoft Excel (version 4.0 and above) spreadsheet template.

Special Features:

• Download this spreadsheet template just once, and be able to use it over and over again.
• The spreadsheet contains the essential items that need to be considered when preparing a balance sheet.
• The spreadsheet can be completely customized — you can quickly add or delete items or revise the format to meet your needs.
• The spreadsheet is easy to use. Just plug in your numbers and it will automatically compute all the subtotals and totals and even tell you if your balance sheet doesn't balance.

Download: Balance sheet template