Create the overall template for your financial statement in Excel by clicking on the spreadsheet cells and typing in the labels for the various statement sections.

Although a running balance is commonly maintained on the same Excel worksheet as the debits or credits, you can also keep a running balance with figures that reside on different Excel sheets.

The idea of preparing Balance Sheet is to summarize business assets, liabilities and owner’s equity (net worth) at a particular point of time. The Balance Sheet, together with income statement ...