If you are a Business owner or serious about the financial activities of your business, then Balance Sheet is an essential document for you. A balance is important because it actually summarizes the liabilities and assets of your company. You can get to know insights of company’s financial movement if you have a legit Balance Sheet. In order to filing income tax, Balance Sheet is must required document. If you have ever wondered about it, get to know how you can create a Balance Sheet in Excel or Google Docs and what things are essential to create one from here.
Every company has their own Accountant department where they can keep a track of company’s financial health by preparing a proper balance sheet. There are hundreds of easy to go balance sheet templates available which you can use just by entering proper details of your income and other Assets. The template will calculate things and get you a quick Balance Sheet on the go. We would provide you a few free Balance Sheet templates so you can try them out in your system at the end of this article.
Microsoft Office offers a number of useful tools to help you out with different requirements. In order to create a simple balance sheet, you can go with Microsoft’s Excel. Yes, most of the web users do use Microsoft Excel in order to create simple balance sheet. As you know, Excel has quick equations to get you the right results in no time, people actually do like to use this software.
Most of the accountants who are working in accounting fields, do use MS Excel to create useful balance sheets with proper equations. There is a simple way to create a Balance Sheet using Microsoft’s Excel software. Apart from this, users will be able to easily download and import ready to go templates within the Excel. So, all in one, it’s like a life saver for you all.
MS Excel has a built in templates for various users and their different demands. So you can find out the best templates as per your requirements from the MS Excel itself. It will not ask you to do anything, just scroll down and select the required template and start creating the balance sheet that you required.
Note : Here we are just going to teach you about creating a Balance Sheet in your Computer using Excel or Spreadsheet. For a complete professional Balance Sheet, you need to learn about the accounting first. Then you will be able to create your own Balance sheet.
A basic Balance Sheet requires a few things before creating it. If you are from accounting department and know everything about the data which is required to create the sheet, then you will be able to create a Balance Sheet using MS Excel with the inbuilt templates for absolutely free.
We would guide you though every single steps to create your won Balance Sheet using MS Excel and Google Drive’s Spreadsheet. Let’s get on to the tutorial right away.
Create a Balance Sheet in Excel
Step 1 :
Go to your Windows PC and click on to the icon of MS Excel or you can press the Windows button and can search for MS Excel from there. Click it out and launch MS Excel in your Windows PC.
Step 2 :
At the upper left corner, you would see File option. Click on to that option and then select New option to create a new file using MS Excel.
Step 3 :
Once you select New option, scroll down to Templates section where you could see a number of preloaded Templates in the window. You would see a number of useful templates for various needs of users. You can find out the Balance Sheet template here.
Step 4 :
Make sure to fill up the required fields while creating a new Balance Sheet with the chosen template.
Step 5 :
At last, you would be asked to select the Accept button. Make sure to hit the Accept button when asked.
Step 6 :
At last, you would see Download button to download the Balance Sheet that you have just created using the MS Excel software.
So folks, this is how you can create a simple Balance Sheet using Microsoft Excel software which may be there in your system. Everyone is familiar with Microsoft Office and all the tools which comes for free to use. You can start creating your first Balance Sheet using this simple steps. After learning things step by step, you would be able to create a complete professional balance sheet for your own or for your company without seeking help from other professionals.
If you are using a different system or don’t have an access to MS Excel software, Google is there for you to help you out. As you know, Google Drive offers a variety of online services to create and share things with people instantly over the Internet, you can even create a Spreadsheet of your own using MS Excel in Google Drive. If you are ready to know about this, we would guide you on creating a Balance Sheet using Google Docs.
If you are not good with maths and want quick equations, Google Docs has its own Spreadsheets which offer ready to go calculations with simple User Interface. If you know how to use MS Excel and want to create a Balance Sheet online using Google Docs, you just require a few simple steps to follow and at the end you will get a Balance Sheet of your own. You can download it or can instantly share your work with anyone with just a few clicks. Let’s see how you can create Balance Sheet with Google Docs
Create a Balance Sheet in Google Docs’ Spreadsheet
Step 1 :
First, you have to go to your Google Drive account to get started with this. Go to web browser and enter the following URL in the Address bar.
Step 2 :
Once you click on the above link, you would be presented with Google Drive’s official page. Make sure you are logged in with a proper Username and Password of your Google Account.
Step 3 :
Now, click on the New option and you would be asked what you want to create here. Kindly select the Spreadsheet option when asked.
Step 4 :
From here, you need to select From a Template option.
Step 5 :
Once you choose this option, you would be presented a list of different types of ready to go templates to create a required balance sheet.
Step 6 :
From here, you need to select a proper Template. You can test out the similar ones from the same page.
Step 7 :
Once you select a Template, you will be able to see a MS Excel like environment on the desktop.
Step 8 :
Just fill in the required details here and the template will itself calculate things without any calculations.
Step 9 :
In order to share this file with other users, you can select the Share button given at the upper right corner of the Window. Enter proper details and hit the Share button to share it with the people whom you wanted.
So folks, this is how you can easily create a Balance Sheet using Google Docs SpreadSheet. It’s an easy way to create and share a Balance Sheet with other people instantly. Shared template can be easily viewed and edited between the circle as well. So, if someone finds errors in your balance sheet, they will be able to correct them down.
As promised, here we have enlisted a few Free Balance Sheet templates to help you out creating an instant Balance Sheet without any additional software or calculations. A complete professional Balance Sheet templates are enlisted below. Just make up your mind and choose the right one to get started with it. You can even test all of them one by one and can decide to go with one which you liked the most.
5 Free Balance Sheet Templates
1. Classified Balance Sheet PDF Template Free Download
The above Balance Sheet is available in PDF format. You can easily create an instant Balance sheet by entering the name of the company, owner’s name and other fields. The template has some pre owned data which you can change as per your requirements. It is compatible for Word and MS Excel.
2. Blank Balance Sheet Excel Template Free Download
This Balance Sheet is for small business who doesn’t need much on the balance sheet template. This balance sheet which you are going to download will be blank and you have to enter the data manually to create a professional balance sheet of your company.
3. Model Balance Sheet Word Template Free Download
Model Balance Sheet has a different section to understand the actual income and assets with more important details of a particular company. You can easily add your income information here in the fields and can enter the name of your company. Download the format and start creating a complete professional Balance Sheet right now.
4. Personal Balance Sheet Excel Template Free Download
If you are looking for a simple yet a professional balance sheet template to use within your MS Excel, then this Personal Balance Sheet template is just designed for you. You just need to enter the required details into the given fields. The template will itself calculate things and you will get your Balance Sheet in hands in a just a few minutes.
5. Balance Sheet For a Small Business PDF Free Download
As the name says, this template is specially designed for the owners of small business. The template has a few section and fields which you need to fill up in order to create an instant balance sheet. The template is ready to go and is available for free.
These are all the most popular and best Balance Sheet templates which are available for absolutely free of cost. You can download them and can edit them with the required fields to get a professional balance sheet in no time. You can open up these templates on your system and can start using them instantly.
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