Practical worksheet

Balance sheet template

Take a dated snapshot of what the business owns and owes.

Last reviewed 2 October 2026

Before you start

Use balances from the same date. Your accounting records should reconcile; ask an accountant about valuations and classification.

Profit reports a period. A balance sheet shows the position on one date, including unpaid bills and loans.

Review at month end and before a major commitment, purchase or finance discussion.

Assets less liabilities should equal owner equity. A mismatch means the records or classifications need checking.

Each prompt explains what to enter. The example is a guide, not a target for your business.

01. Snapshot date

Write one date for every balance and identify the source of each figure.

30 September; bank statement and reconciled accounting report.

02. Short-term assets

List bank cash, customer invoices likely to be collected and stock at a supportable value.

Cash $15,000; debtors $18,000; stock $7,000.

03. Longer-term assets

List equipment and other assets at recorded values. Note any uncertainty about valuation.

Vehicle net book value $25,000; ask accountant about depreciation.

04. What you owe

Separate bills and tax due soon from longer-term borrowings or leases.

Suppliers $12,000; tax $5,000; equipment loan $20,000.

05. Equity and checks

Calculate assets less liabilities; compare with recorded equity and explain any difference.

$65,000 assets less $37,000 liabilities = $28,000 equity.

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This worksheet is general planning information. Ask a qualified accountant, tax agent or lawyer where your decision needs specialist advice.