Use this template to create a simple small business balance sheet in Notion.
Use this template to create a simple small business balance sheet in Notion, including Assets, Liabilities & Owner’s Equity and Common Financial Ratios (enter the first six items in this database and the ratios will be populated using formulas).
What you need before purchase
After purchase, you’ll be able to view the template immediately. The template can be added to your Notion account by:
A balance sheet is made up of:
The assets are the things that you own, such as cash, inventory, equipment and real estate. You can also include intangible assets like customer goodwill or patents.
Liability means an obligation to pay money. Your liabilities consist of all debts owed by the company, including accounts payable (money you owe other businesses), accrued expenses (expenses that have not yet been paid) and taxes payable.
This is where the owners get their return on investment in the form of profit sharing. It’s basically how much equity you’ve earned based on the amount of risk taken on when starting the business. The more risk you take, the higher the percentage of ownership you’ll receive. If you don’t take any risks, then you won’t earn any profits and will only be entitled to a salary.