The Loan Dictionary

The Balance Sheet can be on a computer or on paper and can be simple or complicated.

It is a record of financial data in a spacific order showing assets, liabilities and possibly net worth be by date and/or month due/paid.

if it is a Business balance sheet it will show liabilities cost amounts due each month and what has been paid etc.

You can setup your home balance sheet as a business style and use it to keep track of what you paid and what needs to be paid by simply setting up categories for income and bills and placing a check under each category for the month if the item has been paid.

Your check register is an example of a simple balance sheet and you should keep it as up to date as possible.