Financial statements are key to understanding a business’s financial health. For business owners, keeping financial records accurate and organized is crucial. This is where financial statement templates come in handy. They provide a structured way to manage financial reporting and makes it easier to track and maintain precise financial data.
This free business financial statement template is designed for small businesses to maintain a personal statement for reconciliation. It is has automated balance calculations and self-updating summaries.
The template also includes data validation rules to maintain accuracy across account types and transactions. A secondary sheet allows you to customize account and card types, which then automatically update in the dropdown menus on the main statement sheet.
Header and Business Information
Enter your business’s identifying details in this section. Include your business’s contact details, such as phone number and email. There are also placeholders for customer service information for the associated bank account.
Business Details
This is where you enter the account number, your business’s legal name and address, account type. Select the account type from a dropdown menu, which is linked to the configuration sheet.
Statement Summary
- Card Type: Choose from a dropdown list of card types, generated from the secondary sheet. You can edit this dropdown list from the configuration sheet.
- Opening Balance: This figure is the starting point for the statement period and serves as the baseline for calculations.
- Total Credit and Debit: These fields automatically calculate the total credits and debits using Excel’s SUM() function. They update as new data is entered.
- Net Balance: This is calculated by subtracting total debits from total credits.
Transaction Details
- Date: Use Excel’s date picker to ensure consistent and uniform date formatting.
- Description: This field helps you describe transactions clearly. You can use this information to search for specific transactions.
- Credit and Debit: Financial figures are formatted as currency, and Excel automatically calculates running totals. The debit column is conditionally formatted to highlight transactions that may need attention.
- Balance: This field automatically updates the running balance after each transaction entry, helping you track your business’s liquidity over time.
This template is available in formats like Excel (.xlsx), OpenDocument Spreadsheet (.ods), and Excel Template (.xltx).
