Small Business Balance Sheet Template
Get a snapshot of your business's financial performance within a period of time with Akaunting's balance sheet template for small businesses. The balance sheet helps maintain profitability, providing you with an understanding of the relationship between your income and your expenses.
With this template, you will generate the basic blocks of your assets, liabilities, and equity. It is easy to be informed about the critical standings of your business - where you are and where you might be heading.
Know the cost of running your business
Reduce errors, meet up with compliance requirements, and get to know the actual cost of running your business. Get detailed insight into your company's financial status and enjoy the freedom of detailed reports easily.
Do more than just balancing your sheetsFrequently asked questions
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Assets are the things of value that are owned by a company with the expectation that they will provide a future benefit. All assets have the economic value of an individual or business. Assets are reported on the balance sheet and are bought or created to increase a firm's value or better its operations.
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This is something a business owes, usually a sum of money. Liabilities are settled over time through the transfer of economic benefits, including money, goods, or services. They are recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.
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The owner's equity is the amount of money that would be returned to a company's shareholders if all of the assets were liquidated and all of the company's debt was paid off in the case of liquidation. In the case of acquisition, it is the value of company sales minus any liabilities owed by the company not transferred with the sale.
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Assets – Liabilities = Owner’s Equity
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Equity can be found on a company's balance sheet and is one of the most common pieces of data employed by analysts to assess a company's financial health.
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A bookkeeping software makes it much easier to calculate it as the balance sheet. In Akaunting, users can use the Double-Entry app for trial balances and balance sheet reports.