Balance Sheet
Previously, I shared the first financial statement template which can be used to create a P&L, Profit and Loss, or Statement of Activity template. This second template is usually requested in addition to the P&L to complete the financial statements.
This template is called a Balance Sheet or Statement of Financial Position template. The P&L template is where you totaled each item of revenue and expense for the organization. The Balance Sheet template is quite a bit different and is meant to be a snapshot of the organization’s assets and liabilities on a specific day. Typically, this will be the very last day of your fiscal year. The Balance Sheet along with the Profit and Loss gives and overview of the organization’s financial transactions.
Several of the line items may not be applicable to your organization. Please feel free to customize this template (see link below) for your organization’s actual assets and liabilities.
If you have any questions regarding completing this template, please feel free to contact me.
Have a blessed day!