10 Steps to a Balance sheet

If you’ve never prepared a Balance Sheet before, it can seem pretty intimidating.  What values should you use?  Where should you put them?

When you want to go to the bank for a loan, or bid on a big job for a new customer, they will want to see your Financial Statements, including a Balance Sheet.

A Balance Sheet is simply a list of what you own (Assets) less what you owe (Liabilities) which equals what your business is worth (Equity).

Here’s some sample accounts in each category:


  • Cash and cash equivalents
  • Receivables
  • Inventory
  • Investments
  • Plant Assets (buildings, vehicles)


  • Payroll Tax Liabilities
  • Vendor invoices due
  • Loans
  • Shareholder / Investor loans


  • Owner’s Equity (for Sole Proprietors and Partnerships)
  • Retained Earnings (for Corporations)

Complete the form to download our whitepaper for step-by-step instructions.

10 Steps to a Balance Sheet

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