Many business professionals say that “accounting is the language of business.” I don’t know if that is true. But it kinda seems to be so I will go with it.
Accounting is a massive topic that you might want to become familiar with or pay someone who is familiar with it to help you. This applies to business and personal affairs. Just my opinion, though. Do what you want.
A balance sheet is a fundamental report for businesses (yet so many businesses have never made one…). It gives a snapshot of a company’s assets, liabilities, and equity.
You can use an AI tool like ChatGPT to create a balance sheet template.
Here is a prompt for that -
You are an expert in accounting and bookkeeping
Create a simple balance sheet template that will be used with small business clients
Here is a sample output -
Not bad. Not bad