Below is a description of what to include in each of the balance sheet accounts. A downloadable version can be found to the right.
Cash (Bank Funds)
- Include all monies in cash, checking, and money market accounts. Include marketable securities.
Accounts Receivable
- Include all amounts owed by customers to the company, net of any allowances for uncollectibles.
Inventory
- Include the value of all items available for resale to customers. Direct labor would only be included here if it is included in the calculation of inventory cost.
Other Current Assets
- Include the value of all of the company's current assets that have not already been included under Cash, Accounts Receivable, or Inventory.
- Costs and Earnings in Excess in Billings (optional)
- Costs and earnings in excess of billings reflect the amount of contract costs and profits that have been completed under the percentage of completion method but not yet billed.
Total Current Assets
- Include the total of cash, marketable securities, accounts receivable, inventory, prepaid expenses, and any other asset the company owns that can reasonably be expected to convert to cash within approximately one year.
Gross Fixed Assets
- Include the amount for gross fixed assets or the value for Plant, Property, and Equipment before depreciation is subtracted. The expert system, however, will still work if net PPE or net fixed assets is inputted.
Accumulated Depreciation
- The total amount of depreciation accumulated by the business since the start of operations.
Net Fixed Assets
- Include the value of your fixed assets after having accounted for depreciation.
Gross Intangible Assets
- Intellectual property or other "soft assets" that have a useful life but are not fixed assets.
Accumulated Amortization
- The amount of amortization expense the business has recognized for intangible assets on the books.
Net Intangible Assets
- Include here the value of your intangible assets after accounting for amortization.
Other Assets
- Include the value of all of the company's assets that are not already covered under the Current or Gross Fixed asset accounts.
Total Assets
- This field should be available directly from any Balance Sheet.
Accounts Payable
- Include amounts owed to vendors.
Short Term Debt
- Include the outstanding balance of any short term debt owed by the company. This may include lines of credit, short term operating loans, etc.
Notes Payable/Current Portion of Long Term Debt
- The portion of Long Term Liabilities being paid off within 12 months of the particular financial statement date and notes payable that have a maturity of less than one year.
Other Current Liabilities
- Include the value of all of the company's liabilities that are due in the next year and are not already included under Accounts Payable.
- Billings in Excess of Costs (optional)
- Billings in excess of costs represent amounts billed under a contract for which expenses have not yet been incurred and profit has not yet been earned under the percentage of completion method.
Total Current Liabilities
- Most Balance Sheets make a distinction between current and long-term liabilities. In cases where the distinction is not made, include the total of accounts payable, short-term notes payable, payroll taxes payable, and any other liability that would typically be paid by the company within one year.
Notes Payable/Senior Debt
- This term applies to debt which has seniority or preference in case of a default or bankruptcy.
Notes Payable/Subordinated Debt
- This term applies to liabilities that are subordinate or have less preference in case of a default or bankruptcy.
Other Long Term Liabilities
- Generally, it is recommended that you input into this field any Other Long Term Liabilities that would not be considered either Senior or Subordinated Debt. Some possible examples include deferred taxes and the long term portion of a capital lease.
Total Long Term Liabilities
- The value of the firm's liabilities that will not need to be paid back for at least one year.
Total Liabilities
- Include all amounts owed by the company as of the Balance Sheet date in question.
Preferred Stock
- Stock which generally provides the shareholder with preferential payment of dividends but does not carry voting rights.
Common Stock
- A security which represents ownership in a corporation and which normally carries voting privileges.
Additional Paid-in Capital
- The difference between the par value of the stock issued to owners and the total cash contributed in exchange for the issued stock.
Other Stock/Equity
- Include in this field any stock or other equity amounts, excluding retained earnings, not previously accounted for above.
Ending Retained Earnings
- Include here all profits that the company has earned and re-invested in itself for the dates in question.
Should include current period's Beginning Retained Earnings, Net Income, Withdraws, and Dividends.
Total Equity
- Include here all retained earnings, treasury stock, additional paid-in capital, and original investments in the company. Our expert system will calculate a value for Total Equity for you according to the formula: Total Equity = Total Assets - Total Liabilities.
Total Liabilities + Equity
- Total Liabilities plus Total Equity. This amount equals Total Assets if the Balance Sheet is in balance.
Total Assets – (Liabilities + Equity)
- Total Assets minus (Liabilities plus Total Equity). If this amount equals zero, then the balance sheet reconciles.
Number of Employees (FTE) (optional)
- Include the total number of full-time employees and contractors. In the case of several part-time employees, take the total hours worked by the part-time employees and divide by the full-time equivalent hours. Enter the number of full-time equivalents as of the end of the period in question.
Other Non-Financial Accounts
- Accounts that are important to the business but are non-financial and do not appear in financial statements.
Backlog (optional)
- Backlog represents the monetary value of contracts that have been signed, but for which no work has yet been completed.