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Instructions for the Balance Sheet!!! tab

The Balance Sheet!!! tab lists asset, liability, and equity accounts and checks whether the accounting equation balances: Assets - Liabilities = Shareholder Equity.
 
Knowing which accounts should be listed on the balance sheet is a matter of accounting judgment, but keep in mind that the period end totals for all accounts from the Ledgers!!! should be imported into either the income statement or the balance sheet.
 
In column C of the balance sheet, the names of the accounts to be listed on the balance sheet should be added by way of references to the Ledgers!!! tab. See the explanation regarding how to create references set out in the instructions above for the Ledger Index!!! tab.
 
The dollar amount for each account listed on the balance sheet could also theoretically be added using references, but a macro has been provided to automate that process. The blue “Update References to Ledgers” button in column H of the Balance Sheet!!! tab runs down the list of accounts in the balance sheet and pulls in data from the Ledgers!!! tab in the same way as account totals are brought into the income statement (see explanation above). Similar to the income statement, users should not disrupt the greyed out text in Row 1, or in columns G and H of the Balance Sheet!!! tab as that text is used by the macros when importing data, and for providing feedback to the user. Note that the date of the account end balance for each account listed in the balance sheet is displayed in column G, and at the top of column G the latest date of all accounts referenced in the balance sheet is calculated.
 
The net profit / loss from the income statement must also be imported into the balance sheet (i.e. into the Equity section), and should be done manually using a reference to the Income Statement!!! tab.
 
In summary, once the accounts on the Ledgers!!! tab have been finalized and the net profit (loss) calculated on the Income Statement!!! tab the user should:
  1. check that all of the appropriate asset, liability, and equity account names are pulled into column C of the balance sheet by way of references;
  2. click the blue “Update References to Ledgers” button in column H of the Balance Sheet!!! tab to bring in account ending balances from the Ledgers!!! tab;
  3. bring the net profit (loss) for the current period in to the Equity section of the balance sheet;
  4. check that the Assets -  Liabilities, and Equity, calculations are computing correctly; and
  5. check that the balance sheet balances.
 
As noted above when discussing the Ledgers!!! tab, confirmation of the end date of the balance sheet (in cell G1) and whether the balance sheet balances, is reported on the Ledgers!!! tab so that users on the Ledgers!!! tab can easily check whether the balance sheet balances as transactions are sequentially double entered on the Ledgers!!! tab. It is recommended that checks as to whether the balance sheet balances be run after finishing double entering the transactions on each particular day. This maximizes the chances of errors being detected early and avoids a situation of unbalanced books with errors hard to find in a mass of unreconciled data. See the instructions above for the Ledgers!!! section for an explanation of how to quickly run balance sheet checks as transaction data is entered onto the Ledgers!!!