Balance Sheet Template for Small Business: Comparing the Main Components
Hi good readers! What do you know about a balance sheet template for small business? Well, a balance sheet of a business can be defined as a detailed account of the financial field. Besides, it also tells the liabilities and assets of the company in different categories. Moreover, this printable balance sheet template for small business will provide a detailed comparison of the previous performance. So, you can use it to identify the areas to improve and even build better strategies.
4 Kinds of the Balance Sheet Template for Small Business
There are available for you 4 kinds of balance sheet templates that you can create. What are they? Please follow the kinds in this template free PSD!
- The balance sheet of basic small business
What can you infer with the first sample balance sheet template for small business? Exactly, it tells your business’s mini balance sheet. This template contains the current assets total and current liabilities in total. The first component covers cash in the bank, prepaid expenses, inventory value, and accounts receivable. Then, the second one consists of accounts payable, credit card balances, line of credit, short-term loans, and a total of any other amounts.
- The balance sheet of formal small business
Then, the second free template in PSD will show the example of the model balance sheet. There will be assets, total assets, owner’s equity and liabilities, also total owner’s equity and liabilities. Moreover, the assets include property, equipment, materials, stock, trade receivable, bank accounts, and cash. On the other hand, the owner’s equity and liabilities cover earnings, increase in owners capital, loans, bank, taxes payable, and trade payable.
- The balance sheet format of small business
How about this customizable PSD template? It tells the sample format of the balance sheet for a sole proprietorship. This balance sheet includes the main components such as the assets also the proprietors’ fund and liabilities. The first component contains the property, motor vehicle, machinery, stocks, trade debtors, prepayments and deposits, and cash. Then, the second one covers the capital, retained earnings, current year earnings, long-term loans, trade creditors, and short-term loans.
- The balance sheet of small business
The other balance sheet template for small business sample is available in the form of PDF. This sheet template also has the main components of assets and liabilities. Furthermore, the assets contain cash in the bank, accounts receivable, inventory, land, buildings, equipment, also cars and trucks. Then, the liabilities cover accounts payable, short-term loans, other payments due, long-term loans, mortgage, investment, and retained earnings.
Steps to Prepare a Basic Balance Sheet
When you want to prepare and make a basic balance sheet, you can find the steps in this free PSD template. Let’s see them in detail!
- Determine the date
The first step in the PSD template free is determining the reporting date and period of the balance sheet.
- Identify the main components
Those are means identifying your assets and liabilities.
- Calculate the equity
Then, the next step in this free download PSD is calculating the shareholder’s equity.
- Add total liabilities
Last, you should add the total liabilities to total the shareholder’s equity and compare to assets.
That’s all about the balance sheet template for small business printable. Have a nice learning!
Balance Sheet Template for Small Business Sample