How to Create School Balance Sheet Format in Excel (with Steps)

The most common task for an Excel user is creating a balance sheet. The school balance sheet format in Excel is the same as the typical one. However, the best practice is not to include any financial indicators in it. In this article, we demonstrate how to create the most common school balance sheet format in Excel.

Balance Sheet and Its Components

Balance sheets are a depiction of a company’s assets and liabilities. It summarizes a company’s financial health with structured components. However, the components of a balance sheet may vary from organization to organization. But the basic components remain persistent,

Components of a Balance Sheet

Assets and Liabilities & Owner’s Equity are two basic parts of a balance sheet.

Assets

Assets are mainly the resources that have the capability to provide benefits in the future. Cash, Inventory, Properties, Pieces of Equipment, Goodwill, etc. are examples of assets. Assets can be tangible or intangible. Moreover, assets can be short-term or long-term too.

Liabilities & Owner’s Equity

Liabilities

Liabilities are the sources where a company loses economic benefit or remains in a financial obligation to sacrifice worth.

Owner’s Equity

Owners’ equity is mainly the share of the company’s value among the shareholders. This is the ratio in which the company’s value will be distributed if sold.

As we demonstrate the School Balance Sheet Format in Excel, we don’t discuss the financial factors such as Debt Ratio, Current Ratio, Asset to Equity Ratio, etc.

Step-by-Step Procedures to Create a School Balance Sheet Format in Excel

Step 1: Entering Balance Sheet’s Components

Firstly, you need to finalize the components you want to display on the balance sheet. After finalizing the components, you have to enter them into the Excel cells as shown in the following image.

Step 2: Organizing the Components in a Desired Layout

As you finalize the components, organize the components according to the standardized format.

Place the School Logo and Name at the top of the components.
Make the title of the components as ‘Balance Sheet’.
Below the title, serially enter the finalized components as shown in the following image.

Format the amount cells in the Accounting Number Format (Click Font Settings Icon or CTRL+1).

Also, the total cells in Total Cell Style (Home > Cell Style > Titles and Headings).

Step 3: Entering or Referring Amounts to Populate the Balance Sheet

After formatting all the cells, you need to enter all the data to complete the format. Some of the components may require additional sheets to refer to their values. For example, the Account Receivable entry may require a school grade-wise accumulated amount to refer to.

You can refer to the D13 cell of Account Receivable Monthly Sheet for Account Receivable amount in the Balance Sheet.

Also, each grade may have individual Payments and Outstanding Excel Worksheet to transparent the balance sheet calculations.

Step 4: A Working Example of a School Balance Sheet in Excel

Finally, use the SUM function to populate the Total Formatted Cells to find out Assets, Liability and Shareholder totals. The highlighted cells are the results of the sum formula.

⧭ Note: In the template, we use only 5 grades for simplified demonstration. You can use as many grades as possible to refer to them in the Summary Worksheet. Also, individual worksheets for other components can be used.

Download Excel Workbook

We create the school balance sheet in a way to be used as a Template. Download it to better understand the steps.

School Balance Sheet.xlsx

Things to Remember

The total Assets, Total Liabilities, and Owner’s Equity must be equal.

Conclusion

This article demonstrates the steps to creating a school balance sheet format in Excel. Though the format may vary depending on school requirements, the shown format with components is the standard version of it. We hope this article helps you to create a new balance sheet of your own.

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