Create and Use a Balance Sheet for Your Small Business

We've partnered with our friends at Bench to bring you a balance sheet template to help you see a more holistic picture of your companies’ finances and better predict what's ahead for your business.
Apr 25, 2022 — 1 min read
Create and Use a Balance Sheet for Your Small Business

What’s inside

  • Get a glance at your company’s financial health.
  • A glossary of key financial terms.
  • Gain deeper insight into your cash flow.
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Create and Use a Balance Sheet for Your Small Business

Square cannot provide advice on tax issues. This article is for educational purposes and does not constitute legal or tax advice. For specific advice applicable to your business, please contact a professional.

Let’s dig a little bit deeper into the balance sheet. A balance sheet is a statement of a business’s assets, liabilities, and owners’ equity as of that date. It can be made any time, but they are usually done for set periods of time such as a quarter or a year. Split into two columns, one side of the sheet lists assets while the other lists liabilities and owners’ equity. Your business’s total liabilities and owners’ equity equals the assets.

Using a balance sheet can give you a glimpse at how your company is doing financially, but there are several accounting reports you should consider looking at to get a more holistic view of your business’s finances. Think about using a profit and loss statementcash flow forecast statement, and a balance sheet together.

We’ve partnered with our friends at Bench to bring you this balance sheet template.

Bench 
Bench is the largest bookkeeping service in America. We take care of your bookkeeping by pairing you with your own dedicated bookkeeping team. Plus we give you simple software to track your finances and cash flow. Learn more at Bench.co.

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