How to Create Monthly Balance Sheet Format in Excel (6 Steps)

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.

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. 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.

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 a better conception to format the balance sheet.

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.

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.

After that, go to cell C12 to calculate the Net Fixed Assets. To do 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.

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.

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

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.

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.

Thus, you will get the Total Liabilities.

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.

Consequently, you will get the Total Equity.

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.

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.

Practice Section

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

Download Practice Workbook

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

Monthly Balance Sheet Format.xlsx

Conclusion

That’s all about today’s session. 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. Thanks for your patience in reading this article.

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