Balance sheet template

What the balance sheet template does

A balance sheet is a photograph of the business on one date. List each line under assets, liabilities or equity with this year's figure and last year's, and the template totals each section, shows the change, and checks that assets equal liabilities plus equity so you know the figures are complete.

Who it is for

Small business owners, accountants and anyone applying for a loan or preparing year-end accounts who must present a clear statement of financial position.

How to use the workbook

1. Enter the date of the balance sheet at the top.
2. List each line, choose its section and type this year's and last year's figures.
3. Read the section totals and the check at the top.
4. Print it or save as PDF for your records or your bank.
5. Save a copy under a new name for each month or year, so earlier records stay as they were.

What is inside

• Assets, liabilities and equity sections
• Current and prior year columns with the change
• Totals for each section
• A balances or does not balance check
• Example lines for a small trading business

The workbook has these sheets: Instructions, Balance sheet, Summary. The main table has the columns Line; Section; This year; Last year; Change. Yellow cells are for you to fill in and grey cells calculate by themselves, so leave the grey cells alone. The example rows show how it works; type over them with your own entries.

Tips for getting it right

• Use the same date every year.
• Assets are what you own and are owed; liabilities are what you owe.
• If the check fails, look for a missing line or a sign error.
• Keep the supporting schedules with the balance sheet.

Why keep this record

Accounting records let you answer three questions at any time: what came in, what went out and who owes whom. Kept consistently they also make tax returns, loan applications and the sale of a business much easier, because the evidence is already organised. Entering transactions the day they happen is far cheaper than reconstructing them at year end.

Questions people ask

Do I need to know Excel formulas? No. Type into the yellow cells and the rest is worked out for you. The formulas are visible if you want to see how a figure is reached.

Can I add rows or change the layout? You can add your own columns to the right and your own notes. If you insert rows inside a table, copy the grey formula cells down so the new rows calculate too.

Will it work on my phone or in Google Sheets? Yes for viewing and typing, but dropdown lists and the charts look best in desktop Excel or LibreOffice.

Keeping it safe and up to date

Good accounting records are a legal duty as well as a management tool: keep the supporting receipts and invoices with the workbook, and keep each year's copy for at least five years. Work on a copy, never on your only file, and back it up.

Read how to keep business records for KRA for the wider picture. See more accounting templates or ask us for a custom one.

The workbook works in Microsoft Excel, LibreOffice and Google Sheets. It is a tool to help you work out and record figures, not tax, legal or accounting advice, and it is not affiliated with the Kenya Revenue Authority. If something does not work as described, contact us and we will put it right.

Related guides, calculators and templates

• Guide: How to keep business records for KRA: what to save and for how long
• Guide: Bank reconciliation step by step: match your books to your bank
• Guide: Fixed assets and capital allowances explained for small businesses
• Another template: Bank reconciliation statement
• Another template: Chart of accounts and general ledger
• Another template: Cost centre expense allocation

Need something different? Request a custom template, browse all guides or see every Excel template.