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9 Best FREE Google Sheets Balance Sheet Template of 2024

Google Sheets offers a smarter way to manage personal or commercial income. Users can easily create a comprehensive balance sheet to track their assets and liabilities. The great thing is that all the calculations are automated using built-in tools and functions.

Analyzing the financial health of a business is a daunting task for owners without proper tools at their disposal.

Google Sheets is one of the top spreadsheet programs for managing income from various sources and calculating revenue.

Let us look at the Top 9 FREE Google Sheets Balance Sheet Template of 2024. We will discuss the instructions, things to take care of, and pro tips to maximize your business by accurately calculating incoming and outgoing money.

What is a Balance Sheet?

The balance sheet is one of the three financial statement documents used to summarize total income from assets and spend on liabilities to determine the financial growth of an organization.

They are prepared on a monthly or yearly basis.

The document offers valuable insights that can be further used to enhance the organization’s net worth and financial health.

A professional balance sheet should include the following three main sections:

  • Assets – These include all the current and long-term resources that generate income for an organization or individual. Assets may include your inventory, machinery, land, stocks, etc.
  • Liabilities – Everything from the payment of your employees to the debts and taxes comes under this category. Simply put, liabilities include the payments that the company owes to others.
  • Equity – In simple terms, this can be remembered as the revenue that belongs to the shareholders. It also represents the earnings calculated by subtracting total liabilities from assets.

These terms are pretty straightforward. Simply put, all you need to do is prepare a list of things you own and owe at a given time.

Make sure to accurately specify the company’s assets against the total amount spent on liabilities.

Top 9 FREE Google Sheets Balance Sheet Templates

You will find a handful of balance sheet templates online.

However, not all of them are created using spreadsheet programs like Google Sheets and best fit for everyone.

We have compiled a list of the best useful Balance Sheet templates that automatically calculate total assets, liabilities, and net worth.

1. Yearly Balance Sheet Template by SoftwareAccountant

[FREE] Yearly Google Sheets Balance Sheets Template by SoftwareAccountant

Click Here To Use This Template!

This is the best balance sheet template to calculate a company’s yearly financial performance.

Users can also compare their current year’s financial health with last year’s.

It uses built-in formulas to calculate the total income generated by assets accurately, the amount spent on liabilities, and owner’s equity over a given period.

The template is divided into four tables:

  • Assets
  • Liabilities
  • Owner’s Equity
  • Financial Ratios

Ultimately, it also auto-calculates various financial ratios such as debt ratio, current ratio, assets-to-equity ratio, debt-to-equity ratio, and working capital.

You can easily add more rows and columns to each table. The template is free and can be customized as per your preference.

Make sure to avoid editing the cells that contain formulas.

2. Balance Sheet Template for Small Businesses by Nav

Click Here To Use This Template!

If you are looking for an intuitive and easy-to-use Google Sheets balance sheet, this template is the right choice.

It is best fit for small businesses and personal use. You can enter the name of your assets, liabilities, and equities on the left side and the respective amount on the right.

The template auto-calculates the following things,

  • Total Assets
  • Total Liabilities
  • Net Assets (Total Assets – Total Liabilities)
  • Total Equity

You can download and customize this template for free without any limitations.

Make sure to add the business name and logo at the top of the template.

3. Personal Balance Sheet by

Click Here To Use This Template!

With Google Sheets, managing personal finances as a freelancer or self-employed individual is easy.

This balance sheet template lets you calculate revenue generated from assets using built-in functions. Moreover, you can customize the template by adding your name and other information to give it a personal touch.

It includes a simple table divided into two main sections: ASSETS and LIABILITIES.

Most standard terms are already defined within the template, but you can add more as per your requirements.

Users need to edit the AMOUNT column. At the end of the template, total asset and liabilities values are automatically calculated.

4. Balance Sheet Template by Spreadsheetpoint

Click Here To Use This Template!

Yet another balance sheet template on this list with automated features.

Users can calculate their assets and liabilities quickly using built-in formulas. A range of financial ratios, including current, debt, debt-to-equity, quick, and assets-to-equity, are calculated automatically on the far right side of the template.

The template comes with a short learning curve thanks to its intuitive design. It also includes a sheet named Example with sample data for your reference.

Note that you need to edit the cells highlighted by the light blue color. The template is customizable, and you can include as many rows or columns as you want, but ensure the formulas work properly after each change.

5. Balance Sheet Template by Clockify

Click Here To Use This Template!

Are you looking for a yearly balance sheet template to track your financial performance growth?

The above template allows you to enter the data for the last five years by default. In other words, you can create balance sheets for the last five years within a single template.

Users can easily compare financial growth over the last 5 years side-by-side.

In contrast to others, this template by Clockify includes various tables for assets, liabilities, owner’s equity, and financial ratios stacked one upon another.

All the cells highlighted in light gray either contain user-defined financial statement components or formulas to calculate the total automatically at the end of each table. Make sure you do not edit such cells.

6. Balance Sheet Template by Hubspot

Click Here To Use This Template!

If you are not impressed by the previous template to track financial performance over the past few years, here is another one for you.

This template by Hubspot comes with a professional-looking and sleek design.

Anyone can download it for free and customize it as per their preference.

It allows you to track the performance over the past six years by default. You can easily duplicate the columns to include more years.

7. Balance Sheet Template by Zapier

Click Here To Use This Template!

This template by Zapier is useful to small and medium-sized organizations. It is both beautifully designed and feature-rich.

There are two tables:

  • Assets
  • Liabilities and equity

You can include the current and last year’s financials in this template.

Most of the cells highlighted using the light orange contain formulas to auto-calculate total assets, liabilities, and equity.

In contrast to others in this article, this template includes less number of entries for each category. You need to consider adding more financial statement components as per your requirements.

8. Balance Sheet Template by Smartsheet

Click Here To Use This Template!

This template from Smartsheet is pretty straightforward. You will find the revenue generated by assets on the left-hand side and the total spending during the given period on the Liabilities and Owner’s Equity on the right-hand side.

The third table at the bottom automatically calculates common financial ratios using the earlier information.

It can be used to compare financial health over current and previous years.

The cells containing the formulas are highlighted using different background colors for simplicity and to help you quickly identify the cells with formulas.

Delete the existing information and start using the template right away. You can add more rows and columns without any limitations. Just make sure to verify the proper working of the formula once you add the extra rows or columns.

9. Monthly Balance Sheet Template by Smartsheet

Click Here To Use This Template!

Last but not least, this template by Smartsheet is included on this list because of its monthly financial growth tracking feature.

Everything from the income generated by assets to the amount spent on liabilities and shareholders’ equity is automatically calculated.

At the end of the table on the far right side, you will see the financial performance over the given year. The column is named as YTD.

Note that all the cells highlighted using the light green and gray color hold important formulas. Avoid editing those cells; otherwise, the template won’t work as expected.

Benefits of Using Balance Sheet Template

Balance sheets are compulsory for organizations and publicly traded entities.

It gives a precise overview of the company’s financial health and evaluates its ability to withstand monetary obligations and growth opportunities.

Creating a balance sheet from scratch is both time-consuming and less effective. Any error in the calculation may put your business in financial risk.

So, using pre-made templates discussed in the above section makes sense.

Benefits offered by those templates include:

  • Formulas to calculate total assets, liabilities, and equity
  • Short learning curve
  • Ease of use
  • Customization
  • Reduced human errors
  • Affordable

Templates created using spreadsheet programs like Google Sheets and Microsoft Excel are highly popular. They have helped organizations and individuals save money and boost revenue over the past few decades.


Q. Does Google Sheets have a balance sheet template?

Google Sheets doesn’t include a pre-made balance sheet in their template library.

However, creating a balance sheet from scratch using Google Sheets’ built-in tools and functions is really easy.

If you don’t wish to fall into the hustle and bustle of creating a template from scratch, check out one of the best FREE Balance Sheet Templates discussed in this article.

Those templates can be used for both commercial and personal purposes. You can customize them as per your needs without any limitations.

Q. How do you create a Balance Sheet template in Google Sheets?

It’s really easy! Anyone can do it with a bit of knowledge and Google Sheets experience.

Create separate tables for assets, liabilities, and owner’s equity. You also need to use the SUM function at the end of each table to find the total.

Advanced users can further leverage other mathematical and conditional formulas in Google Sheets to take the functionality to the next level.

We suggest trying one of the FREE Balance Sheet Templates discussed in this article. Every template is fully automated and comes with a professional design.

Q. Can I do accounting in Google Sheets?

Yes, of course. Google Sheets is one of the robust spreadsheet programs perfectly optimized for accounting people.

It boasts state-of-the-art tools and functions. Moreover, you will also like the decent selection of graphs available in Google Sheets.

Here are some of the templates created by SoftwareAccount for accounting,

There are more! Please check our blog to explore all accounting templates created using Google Sheets.

Also, we have compiled the best accounting templates for 2024 in the following article. All of them are free!

Top Free Google Sheets Accounting Templates [2024]

Q. Is Google Sheets paid?

The answer to this question depends upon your purpose for using Google Sheets. But of course, the answer is mostly yes.

Google Sheets is free-to-use spreadsheet software for personal use. All you need is a free Google account. The free account offers all of the tools and functions without any limitations.

The paid subscription costs $6 per month/user and includes the premium benefits of the Google Workspace suite.

Q. What are the 3 parts of a balance sheet?

A Balance Sheet should include assets, liabilities, and owner’s equity to determine an organization’s or individual’s financial position.

Assets include the things that generate revenue in both the short and long term for a business.

Liabilities are simply defined as what your company owes to others.

Lastly, the owner’s equity accounts for the amount to be paid to shareholders.

To Summarize: Best Balance Sheet Google Sheets Template

I hope you found the best balance sheet template that perfectly fits your requirements.

All of them are automated using complex Google Sheets formulas to give you quick insights about what you own, the debts that need to be paid, owners’ and shareholders’ equity, etc. 

Feel free to comment below if you need more information regarding the templates discussed above and how to manage expenses and boost revenue using Google Sheets.