A personal financial statement in Excel lists what a person owns at current value and what they owe, as of one date, with net worth as the difference. For a lender, add income, contingent liabilities such as personal guarantees, and a column naming the statement behind every figure. Build it from schedules on separate tabs.
The example in this post belongs to a fictional client, Dana Whitfield, who owns 60 percent of a fictional company, Whitfield Landscape LLC, and is applying for a business loan. Her name, accounts and every amount are examples, with account numbers ending in example digits. The arithmetic ties: total assets equal total liabilities plus net worth to the dollar.
What a personal financial statement in Excel shows a lender
A personal financial statement in Excel shows a lender one person's assets at current value, liabilities at their balances, and net worth, all as of a single stated date. Lenders also look for annual income by source and for contingent liabilities: debts the person could become responsible for, such as loans they guaranteed or co-signed.
The SBA's own version of this document, SBA Form 413, shows what a lender-facing statement covers. The SBA says it uses the form in assessing repayment ability and creditworthiness. The form has an assets column and a liabilities column with net worth, and it states that the liabilities-plus-net-worth total "Must equal total in assets column." It adds a source-of-income section, a contingent liabilities section, and numbered schedules for notes payable, stocks and bonds, real estate, other assets, unpaid taxes, other liabilities and life insurance.
The as-of date is part of the statement, not a detail. Form 413 asks for the date the information is current as of, and requires it to be within 90 days of submission for disaster loans or within 120 days for 7(a), 504, surety bond, 8(a) and women-owned small business applications. A statement prepared in March from December statements may already be close to that limit by the time a lender reviews it.
A workbook has three advantages over filling a form by hand. Schedules on separate tabs keep detail out of the summary. Formulas keep the totals right when a balance changes. And a supporting-document column lets anyone, including the lender, see where each number came from.
Personal balance sheet example: asset and liability lines in Excel
A personal balance sheet example in Excel has one summary tab with asset lines on top, liability lines below, and net worth at the bottom. Each line is a total pulled from a detail tab. The lines below follow the order of Form 413 so the figures can be copied onto the SBA form or a bank's form without regrouping.
Dana Whitfield's summary, as of September 30, 2026:
| Line | Amount |
|---|---|
| Cash on hand and in banks | 18,400 |
| Savings accounts | 42,600 |
| IRA or other retirement account | 186,000 |
| Stocks and bonds | 73,500 |
| Real estate | 765,000 |
| Automobiles | 31,000 |
| Other personal property | 20,000 |
| Other assets | 150,000 |
| Total assets | 1,286,500 |
| Accounts payable (credit cards) | 4,800 |
| Notes payable to banks and others | 25,000 |
| Installment account (auto) | 19,700 |
| Mortgages on real estate | 480,000 |
| Unpaid taxes | 6,500 |
| Total liabilities | 536,000 |
| Net worth | 750,500 |
| Total liabilities and net worth | 1,286,500 |
The totals: assets are 18,400 + 42,600 + 186,000 + 73,500 + 765,000 + 31,000 + 20,000 + 150,000 = 1,286,500. Liabilities are 4,800 + 25,000 + 19,700 + 480,000 + 6,500 = 536,000. Net worth is 1,286,500 less 536,000, which is 750,500, and liabilities plus net worth return to 1,286,500.
The detail tab and the summary formula
Every asset and liability sits as one row on a tab named Lines: the summary line it belongs to, a description, the amount, the supporting document and the statement date. Each summary line is a SUMIFS on that tab:
=SUMIFS(Lines!$C:$C, Lines!$A:$A, $A5)
Microsoft's SUMIFS function reference gives the argument order: the range to add first, then each range to test and its condition. Net worth is a formula, total assets less total liabilities, never a typed number.
The as-of date cell
Put the as-of date in one cell on the summary tab and name it AsOfDate by selecting the cell, typing the name in the Name Box and pressing Enter, as Microsoft describes in define and use names in formulas. Every heading and check then reads that one cell. A staleness check beside it uses Microsoft's TODAY function, which returns the current date and can be subtracted from another date to count days:
=IF(TODAY()-AsOfDate>120, "As-of date is over 120 days old", "Within 120 days")
Change the 120 to 90 for a statement going with a disaster loan application, matching Form 413's limits.
Which statements support each personal financial statement figure?
Each personal financial statement figure should be backed by the account statement that shows it: a bank statement for cash, a brokerage statement for securities, a retirement plan statement for the 401(k), mortgage and loan statements for each debt, and a card statement for each card balance. The supporting-document column names the exact statement.
Dana Whitfield's Lines tab:
| A: Summary line | B: Description | C: Amount | D: Supporting document | E: Statement date |
|---|---|---|---|---|
| Cash on hand and in banks | Example Community Bank checking XXXX-4821 | 18,400 | September statement | Sep 30, 2026 |
| Savings accounts | Example Community Bank savings XXXX-4839 | 42,600 | September statement | Sep 30, 2026 |
| IRA or other retirement account | Employer 401(k) XXXX-1102 | 186,000 | Quarterly plan statement | Sep 30, 2026 |
| Stocks and bonds | Example Brokerage XXXX-7730 | 73,500 | Monthly statement | Sep 30, 2026 |
| Real estate | Primary residence | 525,000 | Value source noted on real estate tab | Sep 2026 |
| Real estate | Rental condo | 240,000 | Value source noted on real estate tab | Sep 2026 |
| Automobiles | 2022 pickup | 31,000 | Value source noted | Sep 2026 |
| Other personal property | Household goods and equipment | 20,000 | Owner's estimate | Sep 2026 |
| Other assets | 60% of Whitfield Landscape LLC | 150,000 | LLC balance sheet | Sep 30, 2026 |
| Accounts payable (credit cards) | Example Card XXXX-5521 | 4,800 | Card statement | Sep 22, 2026 |
| Notes payable to banks and others | Example Community Bank personal note | 25,000 | Loan statement | Sep 30, 2026 |
| Installment account (auto) | Example Auto Finance XXXX-6610 | 19,700 | Loan statement | Sep 30, 2026 |
| Mortgages on real estate | Residence mortgage XXXX-3360 | 312,000 | Mortgage statement | Sep 30, 2026 |
| Mortgages on real estate | Condo mortgage XXXX-9015 | 168,000 | Mortgage statement | Sep 30, 2026 |
| Unpaid taxes | 2026 estimated tax balance | 6,500 | Client's estimate | Sep 2026 |
Statements closest to the as-of date are best. A month-end as-of date lines up with most bank and loan statements. A card statement that closed a week before, like the September 22 card statement here, is normal; note its date rather than adjusting the balance by guesswork. A quarterly retirement statement fits only when the as-of date is a quarter end, so choosing September 30 here avoids a gap.
Gathering these statements is often the slowest part. Clients forget the second savings account or the old 401(k). The post on collecting bank statements for every account a client holds covers building the account list first. For the loan lines, the post on what fields a loan statement carries into Excel shows where the principal balance sits on a typical statement, separate from the payment due.
Real estate, securities and notes payable schedules
Form 413 asks for more than a total on three lines, and a tab for each keeps that detail ready. The real estate tab follows Form 413's Section 4 fields: type of property, address, date purchased, original cost, present market value, mortgage holder, mortgage account number, mortgage balance, payment and status. Dana's residence was bought for 410,000 and her condo for 205,000; their present values of 525,000 and 240,000 total the 765,000 on the summary, and their mortgages of 312,000 and 168,000 total the 480,000.
The securities tab follows Section 3: number of shares, name of security, cost, market value, and the date of the quotation. Dana's brokerage account holds 300 shares of an example stock index fund at 175, which is 52,500, and 1,000 shares of an example bond fund at 21, which is 21,000, for the 73,500 on the summary.
The notes payable tab follows Section 2: noteholder, original balance, current balance, payment amount, frequency and how the note is secured. Dana's personal note started at 40,000, now stands at 25,000, and is paid monthly at 1,150, unsecured. Form 413 lists auto installment loans on their own line, so the auto loan stays off this tab.
How should a business interest be valued on a personal financial statement?
A business interest on a personal financial statement is the owner's share of the business, stated by a method the statement names. The usual options are ownership percentage times the business's book equity, or an estimated market value. Whichever is used, label it, and do not also list the business's own debts as personal liabilities.
Whitfield Landscape LLC's balance sheet at September 30, 2026 shows total assets of 610,000 and total liabilities of 360,000, so its book equity is 250,000. Dana owns 60 percent, and 60 percent of 250,000 is 150,000, the figure on her summary. The description on the Lines tab says "book value method, LLC balance sheet dated Sep 30, 2026" so a reader knows it is not an appraisal. When the business's own statements are being prepared for the same loan, the classified balance sheet in Excel gives the equity figure with current and long-term sections a lender will also want.
Book value and estimated value can differ a lot. Book value reflects equipment at depreciated cost and leaves out goodwill. An estimated market value might be much higher or lower. This post does not choose between them; that is for the client and whoever is advising on the loan. The statement's job is to say which one it uses.
Double counting is the error to avoid. Whitfield Landscape's 360,000 of liabilities includes an equipment loan of 88,000. Those liabilities already reduced the equity that produced the 150,000. Listing the 88,000 again among Dana's personal liabilities would subtract it twice. Because Dana personally guaranteed that loan, it belongs in her contingent liabilities instead. The "Other assets" line on her summary is this 60 percent interest. The business's earnings are also a separate question from its value: a lender may ask for the company's income statement, and the multi-step income statement in Excel lays one out.
Personal financial statement mistakes: stale dates, missing guarantees and joint assets
Personal financial statement mistakes usually come from three places: balances taken from statements of different dates, personal guarantees and co-signed loans left off, and jointly owned assets counted in full or not at all. Each one makes net worth wrong in a way a lender can find when it checks the supporting documents.
Stale and mixed dates
A statement labelled September 30 that uses a June brokerage balance is not as of September 30. Mixing dates happens when an old statement is the only one in the file. The fix is to request the missing statement, and the statement date column makes the problem visible: any date far from AsOfDate stands out when you scan it.
Missing guarantees and co-signed loans
A personal guarantee is a promise to repay someone else's loan if they do not. Form 413's contingent liabilities section has a line "As Endorser or Co-Maker", along with lines for legal claims and judgments, provision for federal income tax, and other special debt. Dana's contingent liabilities section shows one entry: her guarantee of Whitfield Landscape's equipment loan, balance 88,000 per the September loan statement. It is not added to total liabilities, which is why net worth stays at 750,500, but it is in plain view.
Guarantees are easy to miss because nothing arrives in the guarantor's mail each month. Ask every client directly whether they have guaranteed or co-signed anything: a business loan, a child's car loan, a lease. Form 413's instructions for 7(a) and 504 loans say the form is completed by, among others, any person providing a guaranty on the loan.
Joint assets
Joint ownership needs a stated rule. For 7(a), 504 and surety bond applications, Form 413 says each 20 percent owner's form includes the assets of the owner's spouse and any minor children. Its note for the 8(a) program asks applicants to divide jointly owned assets and liabilities, as appropriate, with a spouse or others. Dana's residence and its mortgage are held jointly with her spouse; the example shows them in full, following the 7(a) wording, with the joint ownership noted on the real estate tab. Whatever rule applies, apply it to the asset and its debt together, never the asset in full and the mortgage in half.
Does a lender accept a personal financial statement in Excel or require its own form?
Whether a lender accepts a personal financial statement in Excel depends on the lender and the loan. A bank may ask for its own form, and SBA loans use Form 413. Even then, the Excel workbook is not wasted: it holds the schedules and the supporting-document column, and its figures move onto the required form line by line.
For an SBA 7(a) or 504 loan, Form 413 says the completed form goes to the lender or the certified development company processing the application. The form carries a certification, signed by each person submitting it, that the information is true and complete. A workbook does not replace that signature. Its job is to make filling the form accurate and fast, and to answer the lender's follow-up questions with the statement behind each line.
Keep the workbook's line order matched to the form the lender uses. If the bank's form groups retirement accounts with securities, add a second summary column that regroups the same Lines tab, rather than retyping figures.
A lender reviewing a business loan usually spreads the business's statements alongside the owner's. The post on which financial statements a loan application needs spread covers what the lender asks for, and the wider guide to financial spreading software covers how lenders compare those figures across years.
The supporting statements are the part a firm can gather ahead of time. With Schema CPA, each client gets one upload link for checking, savings and loan statements, every statement is read and sorted by issuer and period, and the figures export to Excel or CSV for the Lines tab. It does not value a home or a business interest and gives no advice on what to report; the workflow section of the homepage shows the steps, and Get started signs a firm in with an emailed link.