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Personal Balance Sheet

HomePersonal Balance Sheet

A personal balance sheet is a list of the owners private measured individuals assets, liabilities as well as equity within a business.

The assets of the individual as well as liabilities must not be confused with those of the business.

For example, a company involved in distribution, might own delivery vehicles such as delivery trucks and vans. However, these may not form part of the owners assets since they are used primarily in the production of income for the business.

However, the Mercedes Benz bought out of the business proceeds distributed to the owner as profits will form part of the assets on the owners balance sheet.


So, why is the bank requesting a personal balance sheet?

The banks are requesting for a personal balance sheet so that they can know what assets they could possibly attach under your personal name should you default on the loan.

Secondly, they also want to determine if you are still solvent before they can grant you a loan.

They want to determine if your assets far exceed your liabilities and that in the event of a judgement creditor, there shall be enough assets to cover the creditors.

So, How can we help you with your personal balance sheet?

Easily. The personal balance sheet is easy for us to prepare. Basically, all you have to do is to send us a list of your personal assets, the date and the amounts at which t you bought them.

We understand that it might be a little difficult to obtain all the supporting documents such as invoices for all the things that you have bought yourself, however, estimates are also accepted by banks.

Just pay attention to the major assets such as Land & buildings, Motor vehicles, computers, furniture and a few major accessories such as paintings etc if applicable.

We shall do our professional due diligence to ensure that we get you a personal balance sheet that is balanced in accountants point of view.

To obtain a personal balance sheet, please forward the following.

  • List of land,buildings owned by you.
  • List of motor vehicles, bikes or boats owned by you.
  • List of computer & printing equipment.
  • List of major furniture & accessory items owned.
  • A list of investments or life insurance policies.

We also assist in the following areas if you are in the process of applying for finance.

  • Annual Financial Statements (Audited or Reviewed)
  • Management Accounts
  • ITA34 or IT34
  • Confirmation of earnings letter
  • Share Certificate