The First Step Balance Sheet shows the balances?of assets, liabilities and owner's equity on a particular day. The balance sheet provides a snapshot of a business at an exact point in time?- it shows the?balances?of the various accounts on the last day of the reporting period.
A projected balance sheet indicates the future financial health of your business. Using your First Step Projected Profit and Loss Statement and First Step Cash Flow Analysis Spreadsheets, you can project what your balance sheet will look at the end of your first year. Enter the amounts for each section of the balance sheet (assets, liabilities, and equity).