Create a Format of Balance Sheet of Partnership Firm in Excel

Step 1 – Make an Excel Document

Prepare the Excel file to create a format of the balance sheet of the partnership firm.

• We put two headings; one is the Balance Sheet of Partnership Firm which is in Heading 2 and the other one is ABC & Company which is in Heading 3.

Read More: How to Create Daily Bank Balance Report Format in Excel

Step 2 – Insert Balance Sheet’s Contents

We have to insert all the necessary information in the Excel sheet. For this, we will need nine columns.

• We put the Serial Number in column B. The serial number is a special identifying number.
• We place the name of Name of Partners.
• The Profit Sharing Ratio. It is frequently used in partnership-style businesses.
• Insert the Opening Balance. The opening balance is the sum of money in a business’s credit at the start of a new fiscal year.
• The Capita Introduction, which the majority of sizable brokerage companies provide as a part of their prime trading plan.
• Remuneration is the overall pay an employee receives.
• Put the Share of Profit,
• The Drawing is the process of withdrawing money out of a bank account or corporate assets for personal consumption.
• The Closing Balance.

• After putting all the contents, they do not show properly. To show them appropriately, select the whole row of the contents.
• Go to the Home tab from the ribbon.
• In the Alignment category, click on Wrap Text. This will adjust the weight and height.

• To change the alignment and put colors on all the contents, Select the whole row and go to the Home
• In the Alignment group, select the Middle Align and the Align Left.
• In the Font group, select the Fill Color (White, Background 1, Darker 5%).

Read More: Income and Expenditure Account and Balance Sheet Format in Excel

Step 3 – Add Category Values

• Select the cell where we want to put the result of the closing balance. In our case, we will choose cell J6.
• Insert the following formula in the cell.

• Press Enter.

• Drag the Fill Handle icon down to duplicate the formula over the range. Or, to AutoFill the range, double-click on the plus (+) symbol.

• The result of the closing balance will be shown in column J.

Read More: Balance Sheet Format of a Company in Excel

Step 4 – Total of Importance from Balance Sheet of Partnership Firm

• Select cell E9 and press the Shift key on your keyboard and go up.
• Go to the Home tab from the ribbon.
• Click on the AutoSum feature, under the Editing

• You will see the result. Or you can use the SUM function in Excel. The SUM function is a built-in function, categorized under the Math/Trig Function. This adds each value in a range of cells before returning the total.
• Select the second cell E9, and enter the following formula:

• Press Enter.

• Drag the Fill Handle icon to the right to copy the formula over the range.

• This is the format of the balance sheet of the partnership firm.

Read More: Create a Balance Sheet Format for Trading Company in Excel

Download Practice Workbook

You can download the workbook and practice with them.

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