Business info
Who this report is for and the date it reflects.
This is the header of your statement. The as-of date is the single day your numbers describe, so every balance you enter should be the value on that exact day. Most owners pick the last day of the most recent month, because that is when bank and loan statements line up cleanly.
Tip: Choose a date you have a bank statement for. Matching your cash balance to that statement makes the whole report easy to verify later.
Assets
Everything your business owns, grouped into current and fixed items.
Assets are everything your business owns that has value. Current assets are things you could turn into cash within a year, like the money in your bank account, invoices customers still owe you, and inventory on the shelf. Fixed assets are larger items you keep and use for years, like equipment, vehicles, and property.
Tip: Value each asset at what it is worth today, not what you paid for it. For equipment and vehicles, enter accumulated depreciation as a negative number so the report reflects current value.
Current assets
Fixed assets
Liabilities
Everything your business owes to others.
Liabilities are everything your business owes. Current liabilities are due within the next twelve months, like credit card balances, money owed to suppliers, and the next year of loan payments. Long-term liabilities are due further out, like the remaining balance on an equipment loan, an SBA loan, or a mortgage.
Trick: If a loan runs for several years, split it. The part due in the next twelve months goes under current liabilities, and the rest goes under long-term. If that split is hard to estimate, putting the full balance under long-term is fine for a funding review.
Current liabilities
Long-term liabilities
Owner equity
What would be left for the owners after the business pays off everything it owes.
Owner equity follows the one rule every balance sheet must meet: assets equal liabilities plus equity. Owner contributions are money you have put into the business, and retained earnings are the profits you have kept in the business over time rather than taking out.
Tip: Not sure what to enter? Fill in your assets and liabilities first, then use Auto-balance to equity in the sidebar. It fills in the equity figure that makes your statement balance.