If you find in the moment of your life to start a company, be it alone or associated and you want to do it in an easy and fast way your balance sheet in Excel In the form of a report, we will teach you how to achieve it.
First you must have a little knowledge about spreadsheets, what they are for, how to create one and the best programs to create a spreadsheet. One of the best programs to achieve and create your spreadsheet for the creation of your balance is Excel.
Excel is a very easy to use toolr and with it you will achieve what you want in terms of the report you want to obtain in the balance sheet of your company. A balance sheet is designed for those enterprising people who start their first business.
How to create your balance sheet in Excel in report form?
To create your balance sheet in Excel You must have a prior knowledge of how all Excel formulas are used in a spreadsheet, although the most used will be the sum total of values, as well as a simple addition, subtraction, multiplication and division.
First a header consisting of three parts is made. In the first part you must place the name of the company in the first row, in the second row you put the name “balance sheet”. And finally in the third row the name of the period of your balance sheet is placed.
The name or title of your company is to identify the information you will make. The balance sheet also called a financial statement and the period is to know the exact date when the reading of each of the account balances was taken.
In the left part of the balance sheet you will have the resources that the company has, it is represented by the assets and in the right part you will have how those resources have been financed, it can be with debts to third parties, that is, liabilities.
Too can be financed with own funds, that is, heritage. Do not forget that by the accounting rule the capital must always be equal to the sum of the liabilities and the equity of your company and you must express it in your report.
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What should your balance sheet keep in Excel?
It is very easy to create a spreadsheet in Excel, don’t forget that for your balance sheet the assets will be on the left side and the liabilities and equity will be on the right side of your sheet.
The assets of a company can be current, fixed, intangible. Current assets are the resources that the company has and that are used for its operation, while fixed assets make up all the movable and immovable property that make up the company.
Intangible assets They are all the assets that the company has and that by their nature are not in the current or fixed classification but give an added value to the company.
Liabilities represent the debts that the company has with third parties and are classified into two groups, in currents, they are the debts or obligations that they must be settled within twelve months.
And non-current liabilities correspond to the obligations that the company owes settle in a longer period of a year, while the patrimony represents the resources of the company itself or that contributed by the partners.
Example of how you should manage your balance to generate your company
Create your balance sheet in Excel for the accounting and accounts of your company, put the data in order and on the correct side, that is, in the capital to your left or to your right in liabilities or equity.
For example if you decided open a liquor store with 80,000 euros, of which you put 55,000 euros and your sister lent you 25,000 euros, and you must deposit the first transaction in your balance.
Therefore, in this case it has been done is invest capital to the company. The 55,000 euros and 25,000 euros for a total of 80,000 euros, is a share capital and must be placed on the right side of your balance sheet, because it is the origin of the capital.
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