Business Life Planner · ReadyLife

Opening Day Balance Sheet

What you own and what you owe on day one, in the format a lender expects.

A balance sheet is a snapshot of your business on one single day. It lists everything you own, everything you owe, and what is left over for you as the owner. A lender reads this before they read anything else, because it shows whether your numbers actually add up.

The rule a balance sheet must always follow: what you own equals what you owe plus what you have put in. If those two sides do not match, something is missing or entered twice.

1. Assets: What You Own

List everything of value the business owns on opening day, grouped by how quickly it could be turned into cash. Use the rows already here as a starting point, delete what does not apply, or add a new line for anything specific to your business.

Current Assets (cash and things turned into cash within a year)

Current assets, item and amount
ItemAmountRemove
Subtotal, Current Assets$0.00

Fixed Assets (property and equipment you plan to keep and use)

Fixed assets, item and amount
ItemAmountRemove
Subtotal, Fixed Assets$0.00

Other Assets

Other assets, item and amount
ItemAmountRemove
Subtotal, Other Assets$0.00
Total Assets$0.00

2. Liabilities: What You Owe

List every debt the business owes on opening day, grouped by how soon it must be paid back.

Current Liabilities (due within a year)

Current liabilities, item and amount
ItemAmountRemove
Subtotal, Current Liabilities$0.00

Long-Term Liabilities (due after a year)

Long-term liabilities, item and amount
ItemAmountRemove
Subtotal, Long-Term Liabilities$0.00
Total Liabilities$0.00

3. Owner's Equity

This is what you have put into the business yourself, plus any earnings kept in the business. It is the cushion that is yours after every debt is paid.

Owner's equity, item and amount
ItemAmountRemove
Total Owner's Equity$0.00

Summary and Balance Check

Total Assets$0.00
Total Liabilities$0.00
Total Owner's Equity$0.00
Total Liabilities + Owner's Equity$0.00
In balance Total Assets match Total Liabilities plus Owner's Equity.