- 1). Start a new spreadsheet and create a header with your business's name and address, followed by your name, residential address, phone number and email address.
- 2). Create a column for assets and a column for liabilities, side by side. Record every asset and liability in its respective column, including checking accounts, savings, real estate, debt, mortgage and loans. Round each amount to the nearest dollar.
- 3). Add all assets and write the total assets amount beneath the assets column. Repeat this with your liabilities, adding the total liabilities amount beneath that column. Subtract the liabilities total from the assets total and write "Net Worth" below the columns, followed by that total.
- 4). Create a section below the assets and liabilities columns for your income. List your salary or salaries, including any source of income you have and rounding to the nearest dollar.
- 5). Make a section for contingent liabilities and list any legal claims or other special debts you have, rounded to the nearest dollar. If you do not have any contingent liabilities, omit this section.
- 6). Create a section labeled "Asset Details." List each asset and include all information, including who owes the money; the name of the stocks, bonds or mutual funds; the balance or number of shares; and the dates of acquisition. For real estate, include the market value, amount owed, original cost and purchase date.
- 7). Create a section labeled "Liabilities Details" and include information about the name of the creditors, the amount owed, the original amount, your monthly payment and the interest rate.
previous post