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- To create a balance sheet for self-employment, you can use a small business balance sheet template1or follow these steps2:
- List your current assets, such as cash, inventory, short-term investments, prepaid expenses, and accounts receivable.
- Write down any fixed (long-term) assets, such as patents, vehicles, and equipment that benefit the company for longer than one year.
- List your liabilities, such as accounts payable, loans, and taxes owed.
- Calculate your owner's equity by subtracting your liabilities from your assets.
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A small business balance sheet template typically includes the following line items for tracking your business's financial position:
www.smartsheet.com/content/small-business-bala…How to Do a Balance Sheet for Self-Employment
- Balance Sheets and Sole Proprietorships Balance sheets list and describe a business's economic resources and economic obligations at one specific point in time. ...
smallbusiness.chron.com/balance-sheet-selfemplo… Free Small Business Balance Sheet Templates - Smartsheet
Mar 9, 2022 · Download free small business balance sheet templates in Microsoft Excel and Word, Google Sheets and Docs, and Adobe PDF formats.
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