Balance Sheets Template to Boost Your Business Performance
Balance sheet, commonly referred as financial position statement, is functioned to define the financial position of a company on a given date by presenting three important aspects: assets, liabilities, and capital or equity. It means that a balance sheet template contains important information for all parties in the company. For example, business investors and creditors can make anticipations for the company’s future performance to decide important decisions.
Benefit of Using Balance Sheet Template
All in all, a balance sheet will help you to understand how to maintain company’s profitability by monitoring the relationship between the income and expenses. Balance sheet template will be a useful tool to forecast your company’s future performance.
Choose the Right Balance Sheet Template
A balance sheet format may be difference depends on the company or business area and the function. Here are some kinds of balance sheet template you can find online!
- Accounting balance sheet template
You can customize this simple balance sheet according to your income and expenses. You can use separated sheets for separated accounts if the form is used for the business.
- Business balance sheet template
This template is designed to possible you to keep a monthly-based balance sheet by providing the business records to understand anything related to the business (payroll, inventory, debts, etc.)
- Bank balance sheet template
This template involved all off aspects and supporting documents that any institution ask for.
- Farm balance sheet template
If you want a balance sheet to assist you in farming business, this one is the right choice. Keep the records if there is a need for farming grants to provide clear information about the farming business for the investors or any authorities.
- Church balance sheet template
This balance sheet is useful for supporting the churches to be financially balanced and to keep their financial records.
- Income statement and balance sheet template
Anyone can create their financial plan using this template. To complete this template, you have to set financial goals and decide the best idea to achieve them before improving your financial.
- Personal financial balance sheet template
The main target of this template is to list and calculate personal assets and finance.
- Pro forma balance sheet template
This template performs three-year balance sheet overview with a purpose to acquire a business loan. For example, the first year balance sheet will present the current year balance. The second year will include the two years balance, and in the last year will display the balance sheet over the last three years.
- Profit and loss balance sheet template
This template displays the business profit and loss in order to help in improving business practice in increasing the profit.
- Projected balance sheet template
It is designed to provide the prospective financial projections based on the financial state of the business.
Tips to Use Balance Sheet Template
Here are some technical tips that may be useful in completing your balance sheet template:
- Combine categories that fit into the template’s format to make it clear and easy to be analyzed.
- Condense the numbers for projections.
- Ensure to enter negative number to represent less accumulated depreciation for the fixed assets.