TopicHow to prepare projected balance sheet and profit and loss account.
PostedSat, Aug 24th 2019 20:57 PM
By this time, you should have finished filling out your balance sheet template. Whenever you send information to a potential lender or creditor, this will be the first sheet in the package. However, you will also need to get templates for your Profits and Loss statements and other financials in order to give others a clear picture of the direction your business is going in. The balance sheet template is just a snapshot in time. The other pages, such as profit and loss statements, provide a longer statement.
You may be wondering why you, as an individual, may need a personal balance sheet. The answer is that it’s an accurate and timely tool for measuring your financial worth and thinking about what changes you can take to enhance it.