I never have to reinvent the wheel. And as a professional accountant, you can imagine how many different "wheels" I use every day! Profit & Loss statements, Balance Sheets, Cash Flow Forecasts, Time Sheets, Break_Even Analyses, Margin Calculations, Business Plans, etc, etc. When using your own prior work as a financial template, you get another benefit _ you are so familiar with the template that it takes you no time to figure out how to use it. And each time you refine it just a little bit more. So pretty soon your templates run like a Swiss watch! All the bugs have been worked out, you have tested it with many different clients and many different business scenarios and you know you have something you can depend on. Financial Templates as Tools _ For someone who is not a finance professional, financial templates serve a slightly different purpose. They still save time, of course, but they also provide a tool that person would have to pay someone else to develop.
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.