Free balance sheet template

Your balance sheet is one of the key financial documents you’ll use to analyze and improve the performance of your business. Use our smart free templates to save time and produce a professional balance sheet.

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Free balance sheet template

Your company’s balance sheet is one of the 3 key financial documents used by business owners, investors and analysts to measure performance. It’s used alongside the income statement and cash flow statement to give a picture of the financial health of the business.

A balance sheet shows the company’s assets, set against its liabilities and shareholder equity. As the name suggests, it’s used to show the balance of how much the company owns, against how much it owes.

Balance sheets usually capture the same set of information, which means you can use your balance sheet to compare your business to other companies in the same field. Or, you can keep a record of your balance sheets over time to examine how your performance has tracked and improved.

Balance sheet formula

The balance sheet is used to set the assets of the company against existing liabilities and shareholder equity. That means that the balance sheet formula can be expressed like this:

Assets = Liabilities + Equity

In basic terms, the things the company owns (assets) have all been paid for by either taking loans (liabilities), or getting financing from investors (equity).

Assets can include everything from cash and inventory, through to property and equipment. Liabilities may be unpaid invoices, long term loans and mortgages, or short term expenses that still need to be covered. Finally, equity is the money the owners, shareholders or investors have paid in to support the business.

There are variations in reporting standards between industries, but balance sheets are usually similar enough that analysts can compare companies and get a measure of how well they use and control their funds.

Download a free balance sheet template

Simple balance sheet

Download this free simple balance sheet template in Excel to start creating your own company balance sheet. All you need to do is check the fields used and input your business data to get a professional looking balance sheet.

Business balance sheet Excel

This balance sheet template offers a comprehensive range of fields, which may be more suitable for an established company, or if you’re looking to do a detailed analysis of your business. Download, add the detail, and you’re done.

Balance sheet template Google Sheets

If you’d prefer to use Google Sheets to create your business balance sheet, we’ve got you covered. Download this Google Sheet template to create the perfect balance sheet for your business.
Tailor made, but hassle free.

Balance sheet format

Assets
Assets are what the company owns. This could cover a broad range of categories depending on the type of business, from property and production equipment, through to cash and payments owed by customers. Assets are usually split into current and non-current categories for clarity.

Liabilities
Liabilities are one part of what the company owes. Liabilities are also split into current and non-current categories as they can cover everything from money immediately owed to suppliers, through to long term loans which you may not even be paying back yet.

Shareholder’s Equity
The final part of the jigsaw is shareholder equity. Alongside liabilities, this completes the full picture of what a company owes. Shareholder equity covers investments made by the owner or shareholders, which represent their stake in the business.

Wise for business
Using your balance sheet to analyze business performance is a smart move. You can also give performance a boost by getting a Wise for business account. Open an account online today, to hold, send and spend 50+ currencies, and get currency conversion at the mid-market exchange rate every time. That makes it easier to get paid on time by international customers and clients, and cheaper to send money overseas when you need to settle supplier invoices.

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Balance sheet FAQs:

What is a balance sheet used for?

The balance sheet is a key financial document used by business owners, investors and analysts to review company performance. It’s commonly used alongside the income statement and cash flow statement to give a full picture of how a company is doing, compare against other businesses in the same field, and track performance changes over time.

What is included on a balance sheet?

A balance sheet covers the assets and liabilities of a company, as well as shareholder and investor equity. This is because the assets of a company – what it owns – should balance out with its liabilities and shareholder equity – what it owes. Each category is split down with line by line descriptions to build a more detailed picture and help you to get insights into how the company is performing.

What is the most important part of the balance sheet?

There’s not a single part of the balance sheet which is the most important in every situation – rather, business owners can benefit from using the balance sheet when considering opportunities, threats and potential changes.

For example, if you’re thinking of taking a loan to expand, but business is already highly leveraged, use the balance sheet to assess the impact of this move. If you’re considering selling some assets to generate cash flow, the balance sheet can be a helpful tool to evaluate options. And if you’re contemplating an investment, merger or partnership with another company, get their balance sheet along with other key financial documents to check the overall health of their company finances.