How To Prepare Balance Sheet Format In Excel

Balance Sheet Format provides you step by step guide to learn how to make or create Balance Sheet Format in Excel and in other Microsoft office applications. 

Here in this post, you will get to know about many types of balance sheets like Quicken Interchange Format, complex balance sheet, intuit Interchange Format, balance sheet order, cash flow statement, trial balance, general ledger, and balance sheet arrangement, etc

Balance Sheet Format also known as the statement of financial position is a financial statement that shows the assets, liabilities and other details of a business at a particular date or year.

The Balance Sheet Format plays an important role in any  Business firm or organization. It represents the assets, liabilities, and resources of the Business. 

So, don't take stress if you are thinking about how to Prepare a Balance Sheet Format in Excel or what factors or considerations there are when preparing a balance sheet.

Below you can see some examples of Balance Sheet Format In Excel. How in just a few easy steps you can build a balance sheet In Excel.

Balance Sheet Format In Excel
Balance Sheet Format In Excel

Assets: According to financial accounting, any resources owned for business purpose is an asset. 

Liabilities: Any kind of borrowing from individuals or banks to boost a business or personal income and is payable in a short or long period of time.

Few Examples of Simple Balance Sheet Format.

Balance Sheet Format Example 1
Balance Sheet Format Example 1

Balance Sheet Format Example 1
Balance Sheet Format Example 2

Balance Sheet Format Example 3
Balance Sheet Format Example 3

When creating a balance sheet in Excel, you have to apply the basic accounting equation. As you know, Assets, are the resources that a business owns. Liabilities are the debt that it owes and similarly, Capital is the contribution or investment of the owners or shareholders.

So, first, it is better to gather all the information you need before you start. All the important and necessary information for preparing a balance sheet can be found in the companies or business ledgers. Without the right information, you cannot make a balance sheet. 

The total sum of liabilities in a balance sheet must be equal to the sum of the total assets. In other words, the right side must be equal to the left side.

Step By Step Guide To Prepare Balance Sheet Format In Excel.

  1. First of all, write down the header of the business firm or company or proprietor for which the balance sheet is prepared.
  2. Address of the business.
  3. Period of the financial year e.g Balance sheet as on 31 March 2020.
  4. The left side should be Liabilities and the Right side should be Assets.
  5. Click here to Download the balance sheet format in Excel.

While preparing balance sheets in Excel, the current assets are first listed and the non-current assets are later listed. On the right-hand side of the balance sheet format, all the information on assets of the business is listed. 

Assets with related characteristics are grouped together. The method usually used is to divide assets into existing assets and non-current assets. 

Current assets include cash and other properties that can be turned into cash or that are planned to be spent within a limited time span–usually one year. 

Current assets include cash, cash equivalents, accounts receivable, deferred or prepayment expenses, short-term investments, and inventories.

The objective of the Balance Sheet?

The balance sheet format in excel is prepared with the following 8 (Eight) main objects:
  1. To know the financial position of a Business Enterprise.
  2. For knowing the True/Real value of assets (Property) and the number of liabilities.
  3. For Verification of debt paying capability of a business.
  4. The trend of changes in assets and liabilities.
  5. For knowing the trend of profit or loss of business (P/L).
  6. The deduction of depreciation from assets (Property).
  7. knowing the amount of prepaid and unpaid expenses.

What is the format of the balance sheet in Excel?

There are 2 formats of presenting assets, liabilities and company’s equity in the balance sheet. The first one is Account Format and the second one is Report Format.

In Account Format, the balance sheet is divided into two sides left and right like a T Shape. The assets that are listed on the left-hand side whereas both liabilities and the company’s equity are listed on the right-hand side of the balance sheet. 

If all the elements of the balance sheet are correctly listed, the total asset side must be equal to the total of liabilities and the company’s equity side. In other word, the left side must be equal to the right side.

Question To Be Answered 

  1. The banking and financial companies sole proprietorship and partnership forms prepare their balance sheet in which order?
  2. Head of showing government security in balance sheet?
  3. The total of common stock and retained earning are examined as?
  4. The total of common stock and retained earnings are examined as?
  5. In a balance sheet,the total of common stock and retained earnings are examined as?
  6. How to prepare balance sheet when current ratio is 2.5?
  7. ECOZ perfume company balance sheet?
Thanks For Visiting Balance Sheet Format blog. I hope You get the information you look for. If you have still any issue kindly mention below in Comment Box.
Hi, myself Tahir Hassan, the founder of this blog. Being a good student I love blogging, as I'm passionate about it. Blogging provides me with a better space to put all my knowledge and experiences so that my visitors can get the benefit of it.

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