Personal Financial Statement for Excel

 

sample personal financial statement template

A financial statement is a record of all the financial activities that have taken place in your organization. These records can be used for various purposes like calculating the profit generated or loss incurred by the organization. Financial statement samples should be noted in a very organized way as these records are very important in a company.. Sample financial templates can help you with th. The smartest thing to do is to either fill out a free personal financial statement template or to download a sample personal financial statement and build your own. Either of these is cheaper and quicker than hiring a professional. Legal Considerations of a Personal Financial Statement. The details of business loans and personal loans are also listed in the financial statement template so that the whole ways of getting the cash may assess and elaborated when looking for the financial status or position of the business or a person. Download personal financial statement templates here Sample Personal Financial Statement.


8+ Personal Financial Statement Templates - Excel Templates


Creating and maintaining your own Personal Financial Statement is useful for 4 main purposes: 1 Gaining a good financial education, 2 Creating and evaluating your budget, 3 Applying for business loans, and 4 Applying for personal loans. If you already know why you need one, and why you want to use Excel to create one, then go ahead and download the template below. If you'd like to learn more about it, continue reading this page.

If you would like to use this Personal Financial Statement in your business to assist your clients, you may purchase the commercial-use version. This spreadsheet allows you to create and update an all-in-one personal financial statement that includes: Personal Balance Sheet - for listing assets and liabilities and calculating net worth. Cash Flow Statement - for listing all your inflows and outflows and calculating your net cash flow. Details Worksheet - for listing individual account balances and the details for your properties and loans.

Info Sheet - for listing contact info that is typically required in loan applications e. It also includes calculations for some common financial ratios:. If you have already created and follow a budget, your PFS is basically half done. A personal cash flow statement is almost exactly the same thing as a budget, except that a budget is a plan or projection, and your cash flow statement lists your actual earnings and expenses.

A cash flow statement helps you create your budget. Your budget helps you plan how you are going to allocate your net cash flow hoping of course that your net cash flow is positive. Did you already know the relationship between a cash flow statement and a budget?

It's not that the PFS is going to teach you directly. The point is that to accurately complete your personal financial statement you are going to need to ask a lot of questions, and probably do a lot of Google searching, to figure out why such-and-such is a liability, or what exactly is an asset, etc.

Use it as a template - it is just a framework to help you get started. Verify all formulas and make sure you understand exactly how things are calculated. A lender needs to evaluate the risk sample personal financial statement template lending sample personal financial statement template to you. One of the ways they do that is by analyzing your income and how much debt you currently have, sample personal financial statement template.

They can get that information from your personal financial statement. If you are applying for loans, banks will likely have their own personal financial statement PFS forms for you to fill out I've linked to a couple in the references at the bottom of this page.

An asset is something that you own that has exchange value, sample personal financial statement template. You sample personal financial statement template really love your pet rock, but it's probably not an asset. Your financial assets are your cash, savings, checking account balances, real estate, pensions, etc. Watch out for the cells that are highlighted gray. These are values that come from the Details worksheet.

If you overwrite the formula, sample personal financial statement template, you'll need to fix it. Click on the links labeled "Schedule 1" or "Schedule 2" to go directly to the spot on the Details worksheet for entering those assets.

Liabilities are your debts and other unpaid financial obligations. Future expenses such as fuel for your car are not liabilities, but sample personal financial statement template bills are, sample personal financial statement template. The full market value of your home is an Asset.

The amount you still owe on the mortgage is a Liability. The difference is what you call call Home Equity. Inflows include all sources of income wages, dividends, etc. The Inflows are grouped into "Income" and "Other Inflows", because some financial ratios are based on "Income" and not all inflows are necessarily considered income such as tax returns, reimbursements, or gifts.

You'll need to decide what should be considered income, perhaps by consulting with your accountant. If your home or stocks increase in value, there is no cash inflow until you sell them. So, realized sample personal financial statement template gains the profits from the sale of property are inflows, but unrealized capital gains the gain in value of unsold property are not. Categorizing your outflows is important if you want to calculate certain financial ratios. For example, the "Payroll Deductions" category consists of things deducted from your paycheck.

The net income used by the Debt Service Ratio is your gross income minus these deductions, sample personal financial statement template. Why aren't insurance premiums listed under payroll deductions? You can list them there if you want to. But, if you didn't have any income, you would still want to have health insurance, so I find that including health insurance under living expenses is more convenient for calculating the "Total Living Expenses" used by the BLR ratio.

The "Financing Activities" category of outflows is used to determine your total debt payments. That total is used by the debt-to-income ratios. For these ratios, the mortgage payment includes the escrow payment property tax and insurance in addition to interest and principal. One of the first things you need to learn about personal finance is how to calculate your net cash flow. That is simply the sum of all your inflows wages, investment income, gifts, and sample personal financial statement template else puts money in your pocket minus the sum of your outflows everything that takes money out of your pocket.

Screenshots: 2 3 4. The commercial license is also available via the Financial Planner's Template Pack. Sponsored Listings. Business Startup Costs Template. Family Budget Planner. Money Management Template.

 

Personal Financial Statement - 9+ Free Excel, PDF Documents Download | Free & Premium Templates

 

sample personal financial statement template

 

Creating and maintaining your own Personal Financial Statement is useful for 4 main purposes: (1) Gaining a good financial education, (2) Creating and evaluating your budget, (3) Applying for business loans, and (4) Applying for personal loans.. If you already know why you need one, and why you want to use Excel to create one, then go ahead and download the template below. Jul 31,  · This spreadsheet will help you prepare a personal financial statement. Instructions for completing the Personal Financial Statement Template. Your personal financial statement should show only your personally held assets and liabilities (debts) outside the business. Do not include any business assets or liabilities. The smartest thing to do is to either fill out a free personal financial statement template or to download a sample personal financial statement and build your own. Either of these is cheaper and quicker than hiring a professional. Legal Considerations of a Personal Financial Statement.