Balance Sheet Report

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Balance sheet report is a portion of a company's financial statements or business entity generated to indicate the financial position of the company at the end of the accounting period. Balance sheet report typically consist of assets (either current assets, long-term, fixed, or intangible assets), liabilities (short-term and long-term liabilities), and capital. This is a type of report to see financial health status of any companies.

Almost in all reports, you will see balance sheet reports are classified by three elements, either in one or two columns. I think if you are accounting people, you already know what they are. But, I will give you a short description about them just to refresh your memory.

Assets

Economic resources owned by the company, which in the future is expected to provide more benefits to the company. Examples for those assets are :

• Current assets are economical assets in the time being and near future. Some examples are account receivables, cash, receivables, inventories, prepaid expenses, equipment etc.
• Long-term assets are assets where their economical benefits can be taken in the long term, such as buildings, lands, stocks, bonds, etc.
• Fixed assets are assets from the production or supply of goods/services of a company, such as property, buildings, factories, production equipment, office equipment, operational vehicles, computers and so on.
• Intangible assets are types of assets without physical form, such as trademarks, goodwill (good company name), and patents.

Liabilities

This element is  the opposite of assets where it usually corresponds with debts. There are two common classifications for this category :

• Short-term liabilities are debts where any companies must pay in less than one year, such as trade payable, notes payable, dividends, notes payable, etc.
• Long-term liabilities are debts where any companies mus pay within a period of more than one year, such as bank debt, bonds, and mortgages, pension liabilities, and long-term notes payable.

Capital

Capital corresponds with net asset, usually beginning asset, that come from company's owners to build the company and its operations after expenses.

General balance sheet report will show assets and liabilities/capital as two main parts where their values must be equal. All threes are related to the following basic accounting principles:

Assets = Liabilities (Payable) + Capital

If values are not equal, then the report is incorrect. It is not difficult to create this type of report for accounting people. But, for non accounting people, it should give them some headaches since there are plenty of financial criteria needs to put correct values and categories.

Balance Sheet Report Template

The excel template that you can download here is a part of integrated accounting system spreadsheet. In this individual template, you can prepare your company's balance sheet report by typing values of respective categories. In this template, you can specify each category by typing it in Chart of Accounts worksheet. It is optional. You can skip it by typing the category name in Balance Sheet format worksheet directly.

Balance Sheet format worksheet is a worksheet to set your report up. Balance Sheet report will pull all values you put in format worksheet automatically. There are three report worksheets. The first one will map the data into a two-column layout where assets and liabilities/capital data. Assets and liabilities/capital data will be shown side by side automatically. The second one will give you a one column report automatically (suitable for companies that have plenty of reported categories). The third one is a manual entry worksheet where you can create your own type of report. You just need Microsoft Excel to entry all your company's financial transaction and modify anything inside. There are excel formulas in report worksheet that will map transaction data from balance sheet format worksheet to report worksheet. You can modify them as well to make it more suitable with your company's need.

In integrated accounting system template for Excel, you don't have to entry values in Balance Sheet report manually, except its initial balance information, because all values will be pulled from data in accounting journals and other necessary worksheets automatically.