A personal financial statement template excel spreadsheet file is a professional way to document your financial assets and liabilities. The statements can be used by anyone to gather and keep track of their financial data in one easy to read place. The statements can also be used to prepare for future financial planning, such as your retirement and living expenses.
When you are creating a personal financial statement template excel spreadsheet, the first step is to write down your net worth and assets. Be sure to use the proper dollar signs and never place a dollar sign within a dollar sign or you will have a hard time figuring out where to put them in the spreadsheet. The variables include: annual interest payments, annual property taxes, unpaid credit card debt, un_paid college loans, other savings, un_spent capital gains, pension funds, and other investments.
Next, prepare for your personal financial statement template. Now you can move onto calculating your debt_to_income ratio. Now, we need to calculate your debt ratio. You need to multiply your total debts, including debts owed to other people (whether it's an unsecured loan or personal loan), by your income.
Using a personal financial statement template excel spreadsheet, create a line that contains this debt ratio. Be sure to put it in columns, preferably two columns. To prepare your personal financial statement template excel spreadsheet, you can use any spreadsheet program like Microsoft Excel.
Add two columns to your personal financial statement template. In the first column, include all of your paid off debt, whether it's business credit cards, business mortgages, personal credit cards, student loans, and so on.
You then need to add a second column for your total debts. Be sure to have debt on both of these two columns. Any personal debt that you have that has been forgiven or is being forgiven should be included in this second column.
Your personal financial statement template excel spreadsheet should then include a third column that details the value of your assets. Assets include anything that you own, such as stocks, bonds, homes, retirement accounts, etc. Keep it on the left side of the sheet to show the top items on your financial statement.
The fourth column for your personal financial statement template should detail how much money you make from your assets. Be sure to include the total amount that you are making from your investments in this column.
When you create your personal financial statement template excel spreadsheet, it's a good idea to make two lists of all of your assets and liabilities. The first list is for when you make a financial statement on your next pay period and the second list is for when you need to make a future financial planning document.
Last, put a sheet to your personal financial statement template Excel spreadsheet to record all of your accounts receivable. Accounts receivable accounts are for when you will receive payment for a sale or purchase.
Finally, and most importantly, you will need to create a balance sheet for your personal financial statement template. Be sure to include the total of your gross income, sales revenue, sales of goods and services, and the total of all of your accounts receivable.
In closing, creating a personal financial statement template excel spreadsheet is very easy. You just need to keep track of all of your financial data, especially your finances.
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