How to Make a Financial Statement Template?

You can make a financial statement template by creating a structured format for the three core financial reports—balance sheet, income statement, and cash flow statement—and adding formulas that calculate totals automatically. Most people build these templates in Excel or Google Sheets because they allow easy customization and linked calculations.

A well-designed template ensures consistent reporting, faster month-end close, and accurate financial insights.

What Sections Should Your Financial Statement Template Include?

A complete financial statement template should include the following:

1. Balance Sheet

This shows your financial position at a point in time. Set up three columns:

• Assets: cash, receivables, inventory, fixed assets
• Liabilities: accounts payable, loans, accrued expenses
• Equity: owner’s capital, retained earnings

Add formulas so Assets = Liabilities + Equity.

2. Income Statement

This summarizes performance over a period. Include:

• Revenue
• Cost of goods sold
• Operating expenses
• Net income

Use formulas to calculate gross margin and profit margins.

3. Statement of Cash Flows

Divide this into three sections:

• Operating activities
• Investing activities
• Financing activities

Link ending cash to the balance sheet for accuracy.

What Steps Should You Follow When Creating the Template?

Here is a simple step-by-step process:

Step 1: Set Up Your Chart of Accounts

List every revenue, expense, asset, and liability category the business uses. This ensures consistent reporting.

Step 2: Create Separate Tabs for Each Statement

Use clean headers and standardized line items for clarity.

Step 3: Add Formulas and Linking

Automate totals and connect values across statements—for example, net income should flow from the income statement into equity.

Step 4: Insert Validation and Error Checks

Use conditional formatting or flags to catch missing numbers, mismatched totals, or unbalanced sheets.

Step 5: Test the Template

Input sample data to verify calculations and ensure all financial statements tie out.

Should You Build or Download a Financial Statement Template?

Build your own if you need custom reporting, multiple entities, or complex accounting. Download a template if you want a quick, standardized format with basic calculations.

Need a Custom Financial Statement Template?

If you want an audit-ready or tax-ready financial statement template built to match your chart of accounts, Dimov Audit can create one tailored to your business.

Contact us today for expert help.

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