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This balance sheet spreadsheet and the information quickbooks online chat on this page is for illustrative and educational purposes only. The balance sheet informs company owners about the net worth of the company at a specific point in time. Ideal for when you want to turn your monthly profit and loss forecasts or last 10 months data into monthly and year end balance sheets and cash flows. This way, you can not only see how much you spent in each category at the end of the month, you can track how purchases added up.
This budget spread sheet works because it allows you to put in projected and actual income and cost and then shows you the difference. The last two steps in the accounting process are preparing a trial balance and then preparing the balance sheet and income statement.
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