Free Balance Sheet Templates

A balance sheet template is a tool for tallying your assets and liabilities so that you can calculate your equity. Use a balance sheet template to ensure you have sufficient funds to meet and exceed your financial obligations.

Companies, organizations, and individuals use balance sheets to easily calculate their equity, profits, or net worth by subtracting their liabilities from their assets. By doing so, they can get an overall picture of their financial health. A balance sheet also serves as a company or organization’s financial position over specified time, such as daily, monthly, quarterly, or yearly. 

Regardless of the type of balance sheet (simple, business-related, or calendar-specific), they all use the same simple formula:

Whereas a simple balance sheet template allows you to easily fill in the basic assets and liabilities information for a quick glimpse at your financial outlook, a more robust template, such as a pro forma business balance sheet, is useful for entering current assets details, such as accounts receivable and inventory details. 

Regardless of your line of business, all balance sheet templates have standard, pre-set formulas that factor in the following details to keep your financial details balanced and accurate:

Assets:

• Current Assets: Current assets can be converted to cash within a short period of time and include checking and savings account balances, accounts receivable, inventory, prepaid expenses, short-term investments, and other liquid assets.
• Fixed Assets: Fixed assets, such as property, cars, equipment, stocks and bonds, and intangible assets, take time and effort to convert into liquid cash.
• Total Assets: Your total assets include all of your current and fixed assets.

Liabilities:

• Current Liabilities: Current liabilities, such as accounts payable, short-term loans, income taxes, salaries and wages, and unearned revenue, are debts or obligations that are usually due within a year.
• Long-Term Liabilities: Long-term liabilities, such as loans, debt, and deferred income tax, are financial obligations you pay over time.
• Total Liabilities: Your total liabilities include all of your current and long-term liabilities.
• Owner’s Equity: Owner’s equity is the value of your company once your liabilities are subtracted from your assets. This is also called net worth.

Additionally, balance sheet templates allow you to enter projected figures so that you can compare your current financial standing with your projected or target finances. For example, you can use a balance sheet to determine what your quarterly figures must be in order to beat your previous year’s profits. Balance sheet templates, such as this Investment Property Balance Sheet, allow you to factor in details such as property costs, expenses, rental and taxable income, selling costs, and capital gains.