What are the features and benefits of a financial statement template?


Quick Answer

A financial statement template provides pre-prepared financial categories that you can edit to use for your company needs. You can download one from companies like Vertex42.com or Spreadsheetzone.com. These templates are available in Spreadsheet. You can edit the template according to your business needs once downloaded.

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Full Answer

Vertex42.com offers several financial statements designed for small business owners on tight budgets, according to the site. These templates include a balance sheet that provides a snapshot of the company financial health at a particular point in time.

The balance sheet comes with financial ratios categories that are customizable according to your business needs. Vertex42.com advices business owners to conduct detailed research and input accurate numbers into the spreadsheet. The spreadsheet helps you calculate and determine the net assets and liabilities.

A business that wants to monitor its financial performance periodically has to prepare a financial statement, states Findlaw.com. A financial statement template helps your business to track the fluctuating value in its assets or the level of liabilities and net worth according to Findlaw.com.

A template can help your company save time and costs of having the financial statement prepared from scratch; however, according to Investopedia.com, a program like Excel is easy enough to make a statement without the template.

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