This balance sheet template provides you with a foundation to build your own company’s financial statement showing the total assets, liabilities, and shareholders equity.
The balance sheet is based on the fundamental equation: Assets = Liabilities + Equity.
Using this template, you can add and remove line items under each of the buckets according to the business: current assets, long-term assets, current liabilities, long-term liabilities, and equity. You can then calculate different financial ratios to determine how well your company is performing, how liquid or solvent it is, and how efficient it is.
One of the biggest challenges in updating a balance sheet is to make sure the total assets and total liabilities & shareholder’s equity amounts match. Using the “Check” line, you can immediately detect unbalances between the total assets and total liabilities & shareholder’s equity amounts and fix the issue!
Credits to : Corporate Finance Institute