Your balance sheet is a snapshot of what your farm looks like today.
At a current point in time, a balance sheet will show you what you own and what you owe.
Below is a downloadable balance sheet from Northwest Farm Credit Services, Noble Research Institute LLC, and the U.S. Roundtable for Sustainable Beef, that can be used as a template for you to create your own resource. Use the current date when you begin the document to track your assets and liabilities.
Remember, assets minus liabilities is your net worth or owner equity.
Download Farm Balance Sheet