Business Financial Statement Template: Fill & Download for Free

Every company needs to do its accounting that included ensure your Financial statements are correct and up to date. Without this financial management information, stakeholders can’t help you with your business regarding lending, and investment decisions. (Read further below the image)Often you have a golden three setup that includes a bookkeeper, an auditor and an accountant but when you just started a company or run a small (online) shop you mostly have to do everything by yourself. It also helps for managers and IT engineers to understand the basic concept of those financial statements to offer better support and make better decisions. Here are two resources for understanding the basic setup of financial statements and to see some example templates in Excel and Word:Business Have Some Essential Financial Statements – What are They? - BizzLibraryandTop Accounting Templates | Topics about business forms, contracts and templates.Both websites have several posts and quality templates to help you setup and realize your own financial statements.

This resource should help you: Financial Statements Template for Your Business PlanYour business plan needs to include a pro-forma balance sheet, income statement, and cash flow statement. The term “pro-forma” means projected or forecast. Most future business owners who do not have experience with financial statements seek outside help to complete this part of their plan. Whether you plan to prepare your own financials or get outside help, this section is intended to make sure that you know what to include and that you will be well prepared to discuss your financial statements with a banker or investor.When working on how to prepare a balance sheet, income statement and statement of cash flow, plan to prepare quarterly projections for year 1, and yearly projections for years 2-3. Some investors or bankers will expect 5 year projections but that is not as common for startup businesses. If you’re new to financial statements, here is a brief definition of each type:Income Statement: Also known as a profit and loss statement. Shows the company’s revenue, expenses, and profit or loss. Key formula: Total Revenue – Total Expenses = Profit or Loss. This is an important financial statement that you should learn to work with very carefully–it tells you how your business is doing each month. Our financial statements template for profit and loss will help you learn the key concepts.Balance Sheet: This financial statement template will help you show the value of the company’s assets, liabilities and owner’s equity. Key equation: Assets = Liabilities + Owner’s Equity. Additionally, when creating your sample balance sheet, understand that this is the only financial statement that applies to a single point in time. It is a “snapshot” at a given point in time, unlike the other financial statements that show activity throughout a period of time. A small business balance sheet should include assets such as: cash, accounts receivable, and inventory.Statement of Cash Flow: The statement of cash flow financial statement template maps inflows and outflows of cash. Sales and profit alone don’t tell the whole story. It’s important to know when money will come in and when money will be going out.

There are several providers of pro forma templates. SCORE is a US based organization that is a division of the Small Business Administration. On their website, you can find financial templates that are available for free.But the truth is that realistic business plans are impossible without realistic business financials. And a new tool will soon be available for those that need to generate business plan financials. It’s called the Small Business Simulator© and it’s referred to as the BSim™. One of its many purposes is to replace pro forma financial projections. Pro formas give rise to financial projections that can make use of unrealistic data. Instead, the BSim™ enables the operator to reproduce or represent, under test conditions, phenomena likely to occur in actual performance. You may not be able to use it for your current project. But during your business career, you’ll find many opportunities. So be on the lookout for it.