Free Balance Sheet Template (Google Sheets & Excel)

Image of balance sheet pages underneath a pair of glasses

Brixx has created a free Balance Sheet Template for Google Sheets and Excel that allows you to forecast up to 12 months into the future. By entering your email to download your Balance Sheet Template below, we’ll send you more information on the world of financial forecasting (don’t worry, you can unsubscribe at any time).

Let’s talk about Balance Sheet Templates

  • What is a Balance Sheet?
  • What is included on the Balance Sheet?
  • Download and use your free Balance Sheet Template for Google Sheets and Excel
  • Why looking at the Balance Sheet is crucial
  • Why the Balance Sheet is so important to forecast
  • Use Brixx for Balance Sheet statements, cash flow forecasting, and more

What is a Balance Sheet?

The Balance Sheet is a very important financial statement that summarizes a company’s assets (what it owns) and liabilities (what it owes). It is used to gain insight into the financial strength of a company while allowing you to see how the company resources are distributed.

Capturing the net worth of a business at any given time, the Balance Sheet is one of three financial statements used to give a detailed image of the company’s financial health. Along with the Cash Flow Statement and the Profit and Loss Statement, investors and analysts use the Balance Sheet to gain insight into the strength of a company.

What is included in the Balance Sheet?

According to the Balance Sheet theory, a standard Balance Sheet consists of 3 main sections:

  • Assets
  • Liabilities
  • Owner’s equity

Balance Sheet assets

Assets include all resources the company owns that are of potential economic value in the future and include: Current Assets, Long-Term (Fixed) Assets, and Other Assets.

Current Assets

Assets that are intended to convert to cash within one year from the date specified on the Balance Sheet.

Current Assets can include:

  • Inventory
  • Accounts Receivable
  • Prepaid Expenses 
  • Cash and Cash Equivalents 
  • Short-Term Investments (Marketable Securities) 

Long-Term (Fixed) Assets

These are all the assets that are NOT intended to convert to cash within one year from the date specified on the Balance Sheet.

Which can include:

  • Long-term investments 
  • Property costs 
  • Equipment costs 
  • Intangible assets 

Other Assets

These are all the assets that do NOT fall under Current Assets or Long-Term (Fixed) Assets.

Such as:

  • Deferred Tax income
  • Bond Issue costs 
  • Prepaid Pension costs 
  • Other assets 

Balance Sheet liabilities

Liabilities include everything the company owes to outside parties, from financial debts to specific obligations, including: Current Liabilities and Long-Term Liabilities.

Current Liabilities

These are all the amounts due to be paid within one year from the date specified on the Balance Sheet.

Current Liabilities can include:

  • Short-Term debts
  • Wages payable
  • Dividends payable 
  • Accounts payable
  • Income Taxes payable 

Long-Term Liabilities

These are all the amounts that are NOT due to be paid within one year from the date specified on the Balance Sheet.

Such as:

  • Long-Term Debts 
  • Capital Lease Obligations 

Owner’s Equity

Owner’s Equity (also known as the Shareholders’ or Stockholders’ Equity) are all the retained earnings that remain when you subtract Total Liabilities (Current and Long-Term Liabilities) from Total Assets (Current and Long-Term Assets). That formula goes as follows:

Total Equity = Total Assets − Total Liabilities

The Owner’s Equity also includes the owner’s investment.

Download and use your free Balance Sheet Template for Google Sheets and Excel

Start at Step 1: Enter your details to receive your free Google Sheets and Excel Balance Sheet Template

Move to Step 2: Hit file, then “save as” for Excel or “make a copy” for Google Sheets

Take care in Step 3: Fill out each section by adding your forecasted figures in the white cells

Be thorough in Step 4: Remove or add figures that are applicable to your business

Let the magic happen in Step 5: Formulae will calculate totals automatically

Get curious in Step 6: Duplicate the sheet and add different figures into the white cells to test different “what-if” scenarios

Summarise in Step 7: You can quickly get a summary of your sheet in the key “info” section, this is also useful for error-checking

FInish off with Step 8: View the area chart at the top of the spreadsheet to see total assets, liabilities and equity

Simple as that!

Balance Sheet Forecast Template for Google Sheets and Excel from Brixx

Pro-tip: if you’re not sure what each section means, hover over the cells to get a brief description of what you should enter there.

Why looking at the Balance Sheet is crucial

As we’ve mentioned, the Balance Sheet shows the value of the business in terms of:

  • What the business owns
  • What the business owes

It provides a complete picture of the business in a specific time frame (especially when compared to the cash flow and profit and loss forecasts) allowing you to visualise the business’s full value.

Understanding the value of your business is incredibly powerful for making decisions and forecasting the balance sheet gives further signals to investors as to whether they should invest.

The Balance Sheet can often be a confusing report to look at, especially for beginners. One of the major issues comes from the structure and understanding of what each of the report lines means.

This is why in our Balance Sheet Template we’ve structured the report out in an easy to understand way with added descriptions to each line.

We’ve also got a beginner’s guide to the balance sheet forecast report which explains the report line by line. If you’re completely new to the report you may want to reference this as you build your forecast.

If you haven’t already, pop your email in the box at the top of this article to get your free Balance Sheet Template For Google Sheets and Excel template.

Screenshot of the first section of assets in the Balance Sheet Template for Google Sheets and Excel from Brixx

Why the Balance Sheet is so important to forecast

Forecasting any of the 3 key financial statements allows you to make important business decisions based on current and past data.

So imagine how much of an “asset” it would be to forecast what your company could own and owe in the future. It’ll allow you to see if and when you can expand and grow your business and how you’ll fund this expansion.

This is valuable for all businesses but for small businesses and startups, it’s even more so.

Why? Because the balance sheet forecast is one of the main reports that investors look at when they assess your business.

It’s the closest report to a complete picture of the business of any of the three key financial reports.

The balance sheet forecast can identify risks in a business. These risks can be created by various factors; such as having too many outstanding invoices sitting in accounts receivable, having the majority of your assets fixed (not easily transferable into cash) or having too much bad debt etc.


  • You’re making lots of sales
  • Each buyer has a 30 day payment window after receiving their goods/service
  • You’re still making sales and your accounts receivable account keeps growing. 
  • Very little of these supposed sales are translating into real cash

This illustrates a very real problem that many businesses have. Carrying on like this could see you running out of cash very quickly. This problem might indicate that somewhere along the line payments are not being received. Perhaps this is down to not chasing up orders or maybe you don’t have anyone assigned to do this. Perhaps people aren’t satisfied with the goods and services they are receiving. Either way, it’s a warning sign for investors.

The action you might take to solve this problem is to hire someone to chase these or hire a firm to do so on your behalf. 

Risks like these can be spotted on your Balance Sheet. Forecasting your balance sheet gives you the opportunity to explore how you’ll fix these issues. You can demonstrate how the impact of your actions will reduce this risk over time. 

Whilst your Balance Sheet gives you a powerful overview of your business you’ll likely want to be looking at this in combination with your Profit and Loss and Cash Flow reports. 

If this is something you think you’ll need to do, read on…

Use Brixx for Balance Sheet statements, cash flow forecasting, and more

Our Balance Sheet Template for Google Sheets and Excel can help you find your company’s net worth easily and can assist you in analysing your company’s overall financial health. However, should you be looking for a dedicated tool, Brixx may be the solution for you!

Brixx is a financial modelling tool created for business owners to effectively map out their financial future.

Using simple inputs, you can forecast the 3 key financial statements up to 10 years into the future. All the reports and charts generate simultaneously which is a serious time saver. 

When you save that much time generating reports, you can spend more time on the interesting stuff like modelling scenarios.

And modelling scenarios is really where Brixx shines.

You can model the impact of today’s decisions on tomorrow’s financials to make sure you make the right moves for your business.

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