The Excel program is one of the most popular when it comes to creating balances or data comparisons, since creating spreadsheets or making forms in Excel to enter data is one of the easiest tasks to perform.
Therefore, what you should keep in mind when using Excel to make a balance sheet for accounting, is to know the basic concepts that make up the balance sheet. That is, knowing what Assets, Liabilities and Equity or Stockholders’ Equity are, both in general and the data that make up each one in your company.
So then, we will show you the steps you must follow so that you can learn how to make a general balance sheet for accounting in Excel easily.
What concepts to include in a general balance sheet for accounting in Excel?
One of the best options to make a balance sheet is the Excel program. Well, you can easily and comfortably use this platform even when you don’t fluently handle the concept that defines what a spreadsheet is.
However, to create a general balance sheet for accounting, it is essential that you know the terms that make up the balance sheet. Therefore, the first thing will be to know the basic concepts that make up a statement of financial position, since this is what is shown in this tool.
The first of these elements are the Assets, which are the goods that the company has. Likewise, the second element is made up of the Company’s Liabilities, which are those payment obligations or outflows of goods that the company has.
Finally, the Capital of the company that refers to the money that the company has, as well as the assets translated into money that it has. This concept is formed with respect to all the Assets less all the Liabilities of the company.
How to make an accounting balance sheet in Excel easily?
Once you enter Excel on your computer or from the Microsoft Office online platform, the first step to create a general balance sheet for accounting on this platform is to establish in the first row the name of the company for which we carry out said balance. together with the period to which said balance corresponds.
Subsequently, you must establish a section for Assets, which will comprise from column B to E. Defining the title of each operation in the corresponding cell. Likewise, you must establish the Liabilities section from column H to K, leaving columns A and F free to list each of these.
Then, you must define the corresponding internal sections of the Assets, that is, define the current ones, the fixed ones and later the deferred ones. The other columns corresponding to this section will be for you to enter the amounts of each asset, leaving the last one to show the total of each type of asset.
Likewise, you must repeat this process under the concept and section of the Liabilities that the company has. Also defining current, fixed and deferred. Finally, you will have to establish a cell in the Liabilities section to show the Stockholders’ Equity.
What should I keep in mind to make an accounting balance sheet in Excel?
Excel is one of the best tools for creating spreadsheets, and it’s also the best way to quickly and easily create an accounting balance sheet.
In this way, you should consider that the importance of creating this type of balance sheet allows companies, organizations and even people associated with business activities, an overview of the company’s economy.
Therefore, considering that the Excel formulas that you must use to create this spreadsheet are some of the simplest. You must be careful about the data you handle, since it is essential that when you make a balance sheet in Excel, the information you have is accurate and specific regarding the assets and liabilities that the company has.
