To monitor a company’s financial growth, the Schedule 6 format of the balance sheet is used. It consists of a company’s financial statements for the current year as well as previous years. Just like any other balance sheet, a Schedule 6 balance sheet also has an Equity and Liabilities section and an Assets section. In this article, I will discuss the Schedule 6 balance sheet format in Excel.
What Is Schedule 6 Balance Sheet?
The Schedule 6 balance sheet is a balance sheet format that describes a company’s financial state at a particular time. It helps to determine a company’s gross liabilities as well as assets at any schedule of a financial year. Thus, the Schedule 6 balance sheet format helps track a company’s financial state at any time.
Schedule 6 Balance Sheet Format
I used 4 columns to create a Schedule 6 balance sheet. The columns are,
This column consists of various financial statements.
- Note No
You can use this column to keep any short notes.
- Amounts as of the end of the current reporting period
Here, you will insert the current financial statements of your company.
- Amounts as of the end of the previous reporting period
In the column, you will insert the previous financial statements of your company.
1. Equity and Liabilities
The first primary section of a balance sheet is the Equity and Liabilities section. Under this section, the following categories remain.
If your company collected any funds by launching IPOs, those amounts should be mentioned here. The sectors under Shareholder’s Funds are:
- Share Capital
- Reserves and Surplus
- Money received against share warrants
The sections are self-descriptive, so a detailed explanation is not written, if you have any problem understanding the terms please leave a comment, will try to provide you with an answer.
Your company might receive application fees, but maybe the allotment has not been made yet. Those application fees fall under the Share application money pending allotment category.
1.3. Non-Current Liabilities
Here, you should include a company’s past money-borrowing statements. It has the following sectors:
- Long-term borrowings
- Deferred tax liabilities (Net)
- Other Long term liabilities
- Long term provisions
1.4. Current Liabilities
Here, a company’s present borrowings are recorded. It includes,
- Short-term borrowings
- Trade payables
- Other current liabilities
- Short-term provisions
The second essential part of a balance sheet is the Assets section. It consists of a company’s tangible and intangible assets, investments, etc. Now let’s dive deeper into this section.
2.1. Non-Current Assets
Here, a company’s non-recent assets are recorded. It consists of the following sectors:
- Fixed assets
- Tangible assets
- Intangible assets
- Capital work-in-progress
- Intangible assets under development
- Non-current investments
- Deferred tax assets (Net)
- Long-term loans and advances
- Other non-current assets
2.2. Current Assets
Here, you will insert a company’s present assets statements. It consists of the following sectors:
- Current investments
- Trade receivables
- Cash and cash equivalents
- Short-term loans and advances
- Other current assets
You will get an Excel sheet like the following screenshot, at the end of the provided Excel file. You can practice all the topics in that blank dataset discussed in this article.
Download Schedule 6 Balance Sheet Template
You can download the Excel file from the following link. You can use the file as a Schedule 6 balance sheet template.
To sum up, I have discussed the format of a Schedule 6 balance sheet in Excel. Please don’t hesitate to ask any questions in the comment section below. We will try to respond to all the relevant queries ASAP.