Free balance sheet template
Download a balance sheet template for your business. And learn how Xero software can make reporting easier.
Download the free balance sheet template
Fill in the form to get a balance sheet template as an editable PDF. We’ll throw in a guide to help you use it.
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Learn about balance sheets
A balance sheet is a financial document that helps provide a snapshot of a business’s finances and gives a view of the business's assets, liabilities, and owner’s equity. The main purpose of a balance sheet is to see if a business can cover its debts or whether it has gained or lost value over time. Overall, it’s a great way to assess a business’s financial health, along with the profit and loss statement and cash flow statement.
A balance sheet is a financial document that helps provide a snapshot of a business’s finances and gives a view of the business's assets, liabilities, and owner’s equity. The main purpose of a balance sheet is to see if a business can cover its debts or whether it has gained or lost value over time. Overall, it’s a great way to assess a business’s financial health, along with the profit and loss statement and cash flow statement.
The balance sheet formula is Assets = Liabilities + Owner’s equity. The balance sheet should equal the sum of the liabilities plus the owner's equity, meaning it should balance. If there are discrepancies, it may be due to incorrect or missing data in financial records.
The balance sheet formula is Assets = Liabilities + Owner’s equity. The balance sheet should equal the sum of the liabilities plus the owner's equity, meaning it should balance. If there are discrepancies, it may be due to incorrect or missing data in financial records.
What are the unique features of a balance sheet?
A typical balance sheet is divided into three main parts
1. Assets
Assets are what the business owns and are listed in order of their liquidity, or ability to convert into cash.
2. Liabilities
Liabilities represent obligations owed by the business. Current liabilities are listed in order of due date.
3. Owner's Equity
Owner's Equity comprises the capital invested by the owner and any retained earnings.
Learn about your free balance sheet template
We’ve put together this handy balance sheet template to help you follow a simple balance sheet format. This balance sheet sample comes with a how-to guide to help you accurately use a balance sheet. In short, you’ll note down what the business owns under assets and what it owes under liabilities. Then you can compare the two to see where the business stands.
We’ve put together this handy balance sheet template to help you follow a simple balance sheet format. This balance sheet sample comes with a how-to guide to help you accurately use a balance sheet. In short, you’ll note down what the business owns under assets and what it owes under liabilities. Then you can compare the two to see where the business stands.
When using this balance sheet example, it's important that all the data be accurate. Maintaining financial data integrity involves establishing clear policies and procedures for data collection, processing, reporting, and auditing. Recording all transactions regularly, including petty cash, inventory, and supplies, will help you stay on top of your finances. In cases of imbalance, we recommend you double-check the data and calculations.
When using this balance sheet example, it's important that all the data be accurate. Maintaining financial data integrity involves establishing clear policies and procedures for data collection, processing, reporting, and auditing. Recording all transactions regularly, including petty cash, inventory, and supplies, will help you stay on top of your finances. In cases of imbalance, we recommend you double-check the data and calculations.
Balance sheets are tricky. Missing off an asset or liability can really throw out your results. It’s a good idea to connect with an accountant or bookkeeper when filling out a template like this. You can find one in our directory.
Find an advisorBalance sheets are tricky. Missing off an asset or liability can really throw out your results. It’s a good idea to connect with an accountant or bookkeeper when filling out a template like this. You can find one in our directory.
Find an advisor
Make balance sheets better
Set up Xero to capture your financial data and it’ll create a balance sheet whenever you need one.
- Create up-to-date reports at the press of a button
- Format them the way you like
- Share them online with your accountant, bookkeeper, and business partners
Disclaimer
Xero does not provide accounting, tax, business or legal advice. This template has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business.