When you open up a business it is critical to know what your assets and liabilities are. This is your businesses starting point and it is critical to know where you are starting when you open your door. This opening day spreadsheet allows you to breakdown your assets and liabilities before you even open your doors. Download the Microsoft opening day spreadsheet for free from Template Haven today!
How to Use the Opening Day Spreadsheet
Using the opening day spreadsheet is easy. On the left side of the sheet you have all of your assets. This includes all of your current assets, your fixed assets, and all your other assets. The list of assets is completely customizable but the template has given the user some suggestions to start from. The right side is the total liabilities of your business. The liabilities side features your current, long-term, and other liabilities. Just like the assets side there are some suggested liabilities, but you can customize the liabilities to meet your things. Spend some time thinking about your liabilities and then put them in the balance sheet.
The best part of the Opening day spreadsheet is that at the top of the sheet your assets and liabilities are totaled up and you get a total number. A rough bar graph displays how large your assets are in comparison to your liabilities and vice versa. At the bottom the user is given the equity of their business as well of their total liabilities plus their net worth. The opening day spreadsheet is completely free and is a useful tool for someone planning to open up a business.
Opening Day Spreadsheet Tips
- Make sure you get all of your assets and your liabilities done. That way you will be opening your business on a firm foundation.
- Start a budget after you make this balance sheet for the next year. You are starting your budget on a firm foundation and starting a budget will allow you to keep that firm foundation.
- Spend some time customizing your liabilities and assets to meet your needs. The template is a guide but it is not your actual balance sheet.
Download: Opening Day Spreadsheet
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