How to Create Monthly Balance Sheet Format in Excel

The balance sheet basically shows the calculative position of a company’s assets, liabilities, and equity. Actually, it is a report of financial analysis of a company or a business. So for analyzing the financial criteria of your company for every month, you need to create a monthly balance sheet format in Excel. Don’t need to get panicked. Here, in this article, we have covered the steps to create a monthly balance sheet in Excel. So, let’s get started.


Download Practice Workbook

Download the following practice workbook. It will help you to realize the topic more clearly.


Introduction to Balance Sheet Components

It summarizes the financial position of the company after a certain period and is also known as a Statement of Financial Position/condition. In general, a balance sheet consists of three parts. And these are assets, liabilities, and owner’s equity. A balance sheet provides a glimpse of the company’s finances. The balance sheet consists of the company’s liabilities, assets, and owner’s equity. Balance sheets are organized according to the equation.

Assets= Liabilities + Owner’s Equity
  • Assets: These are the main resources owned by the company. Assets can be categorized into many types. Examples- are current and fixed assets, tangible and intangible assets, etc.
  • Liabilities: They are things that the company owes to a person or another company, like cash, loans, etc.
  • Owner’s Equity: It represents the value of a company’s shareholders after all the company’s assets have been sold off and all company liabilities have been paid off.

6 Steps to Create Monthly Balance Sheet Format in Excel

To create the monthly balance sheet, you need to follow some simple and basic steps. You need to enter your assets, liabilities, and equity as it is the main component of any balance sheet. We have demonstrated to you the steps for creating a monthly balance sheet for better visualization.


Step 1: Insert the Components

  • First of all, enter all the components of your company’s assets, liabilities, and your company’s equity. Thus, you can see the below image to know how to do that.

Insert the Components for monthly balance sheet in excel

Read More: Balance Sheet Format of a Company in Excel (Download Free Template)


Step 2: Set up the Balance Sheet Format

In this step, you need to format your sheet according to your preference. It will give your balance sheet a pretty handy outlook. It makes your sheet nice and extraordinary for your presentation. See the below image for getting a better conception to format the balance sheet.

Set up the Monthly Balance Sheet Format in Excel

Read More: Balance Sheet Format in Excel with Formulas (Create with Easy Steps)


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Step 3: Enter and Calculate Assets

  • Firstly, enter the monthly asset value in your balance sheet. Here, we calculate for Aug’22 and Sep’22.
  • Then, select cell C9 and enter the SUM function to calculate the summation of the Current Assets.
=SUM(C6:C8)

This will add the value of C6 to C8 and calculate the arithmetic sum.

Enter and Calculate Assets for monthly balance sheet format in Excel

  • Then, drag down the Fill Handle tool for the same formula in cell D9.

  • Finally, the total current assets have been calculated in the image below.

Total Assets for monthly balance Sheet format in Excel

  • After that, go to cell C12 for calculating the Net Fixed Assets. For doing this, we enter the formula.
=C10-C11

It will take the value of C11 and subtract it from C10, as it is the Accumulated Depreciation.

Calculate Net Fixed Assets

  • Press ENTER and use Autofill for cell D12.
  • Eventually, you will get the Net Fixed Assets.

  • Subsequently, go to cell C13 and insert the formula.
=C9+C12

It will add the value of C9 and C12.

Toatl Assets

  • Eventually, press ENTER and drag right for other cells and get the Total Assets.

Read More: How to Create Vertical Balance Sheet Format in Excel


Step 4: Calculate Liabilities

  • Initially, input all the data of liabilities and write down the formula.
=SUM(C15:C17)

This syntax will add the value from C15 to C17 for the Total Current Liabilities.

Calculate Liabilities for monthly balance sheet format in Excel

  • Afterward, apply the same formula for D18 and get the result just like the image below.

  • Then, go to cell C20 and input the formula
=C18+C19

It will do the arithmetic summation of cells C18 and C19.

Calculate Liabilities

  • Thus, you will get the Total Liabilities.

Total liabilities

Read More: How to Create Common Size Balance Sheet in Excel


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Step 5: Estimate Equity

  • For estimating the Owner’s Equity select cell C23 and insert the formula
=C21+C22
  • Then, press ENTER and do this for cell D23 also.

Estimate Equity for monthly balance sheet in Excel

  • Consequently, you will get the Total Equity.

Total Equity

Read More: Revised Schedule 3 Balance Sheet Format in Excel with Formula


Step 6: Evaluate Balance Sheet

  • In this final step, we will calculate the Total Liabilities and Owner’s Equity.
  • Initially, select cell C24 and write up the formula
=C20+C23

By adding this, you will get the total value.

Evaluate Monthly Balance Sheet Format in Excel

  • Finally, you can see the total assets are equal to the total liabilities and owner’s equity and that’s the basic format of a balance sheet.

Read More: How to Create a Balance Sheet for Small Business in Excel


Practice Section

We have provided a practice section on each sheet on the right side for your practice. Please do it by yourself.

Practice Section


Conclusion

That’s all about today’s session. And these are some easy steps for the monthly balance sheet format in Excel. Please let us know in the comments section if you have any questions or suggestions. For a better understanding, please download the practice sheet. Visit our website Exceldemy, a one-stop Excel solution provider, to find out diverse kinds of excel methods. Thanks for your patience in reading this article.


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Fahim Shahriyar Dipto

Fahim Shahriyar Dipto

Hello! Welcome to my Excel blog! I am a big fan of MS Excel. I am learning new and exciting things in Excel and writing the process here. I think this will be helpful for you to get used to Excel. Keep visiting our website for new and updated Excel methods.

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