Once this person has a financial template, they can use it to create forms the template will simply guide them through. The mere fact that the template has certain line items _ like the Balance Sheet, for example, forces you to think in a well_organized fashion and gather the information according to the structure of the template _ cash balances, accounts receivable, fixed assets, liabilities, etc. The same goes for a Business Plan. A well_designed financial template can steer you away from making some fundamental mistakes. A client of mine brought me a self_prepared Business Plan once and we both smiled at the many line items he had on his Profit & Loss statement which really belonged on a Balance Sheet. With a professionally designed template, he wouldn't have made that mistake.
Numerous websites offer sheet templates, either for free download or they charge a small fee. With the free templates, companies or sole proprietors can keep record of more than 1 year. Keep monthly records too. Download balance sheet templates depending upon its features and which operating system it will work with. The templates work with Microsoft Excel and they can be modified according to business demands. Browse through several balance sheet examples to get an idea on how your sheet might turn out and depending on that, choose the sheet template. Alternatively, use online tool Google Docs to upload files and modify it.