Build a balance sheet, assets, liabilities and owner equity at a point in time, with entity-aware equity treatment (sole prop, partnership, LLC, S-corp, C-corp) and the GAAP vs tax-basis distinction called out.
A skill is a written procedure a bot loads when a job calls for it. This one is a single file, SKILL.md, and the whole file is on this page.
Templates and analytical tools only - not personalized financial, tax, accounting, or legal advice. Balance-sheet line classification, owner-equity sectioning, and basis (GAAP vs tax-basis vs cash-basis) materially change figures and how lenders / investors / IRS read them. Review with a CPA before sharing externally.
Finance - Balance Sheet
Generate a Balance Sheet (Statement of Financial Position) as of a single date. Lenders, M&A buyers, and reasonable-salary defenses all require a B/S.
Build a balance sheet, assets, liabilities and owner equity at a point in time, with entity-aware equity treatment (sole prop, partnership, LLC, S-corp, C-corp) and the GAAP vs tax-basis distinction called out.
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Asset and liability balances (see structure below)
Owner contribution / draw / distribution history for the period (impacts equity section)
Prior-period comparison (optional but recommended for variance flags)
Reporting-basis distinction (CRITICAL)
Basis
Revenue / AR
Expense / AP
Inventory
Long-lived assets
GAAP (accrual)
AR recognized when earned
AP when incurred
At lower of cost or market; ASC 330
Capitalized + depreciated; ASC 360
Tax basis
Per IRC; AR/AP recognized per cash vs accrual election
Per IRC
UNICAP §263A may apply
Per IRC §168 / §179 / §168(k); MACRS
Cash basis
Recognized when cash received
Recognized when cash paid
Often capitalized only at sale
Capitalized; depreciated
Modified cash
Mix - typically cash for services + accrual for inventory / AR
Mix
Accrual on inventory
Capitalized + depreciated
Lenders and SBA loans generally want GAAP or close-to-GAAP. Tax preparers want tax-basis. Buyers / DD typically request both.
The B/S header MUST display reporting_basis: <selected>.
Output structure (US GAAP / typical SMB layout)
BALANCE SHEET Jurisdiction: [SELECTED]
[Entity legal name] reporting_basis: [SELECTED]
As of: YYYY-MM-DD Generated: YYYY-MM-DD
(in dollars, unless otherwise noted)
──────────────────────────────────────────────────────────────────
ASSETS
──────────────────────────────────────────────────────────────────
CURRENT ASSETS
Cash and cash equivalents $XX,XXX
Marketable securities $X,XXX
Accounts receivable, net of allowance $XX,XXX
Inventory $X,XXX
Prepaid expenses $X,XXX
Other current assets $X,XXX
--------
TOTAL CURRENT ASSETS $XX,XXX
NON-CURRENT ASSETS
Property, plant & equipment (PP&E), at cost $XX,XXX
Less: accumulated depreciation ($X,XXX)
--------
Net PP&E $XX,XXX
Intangible assets, net $X,XXX
Goodwill $X,XXX
Right-of-use lease assets (ASC 842) $X,XXX
Other non-current assets $X,XXX
--------
TOTAL NON-CURRENT ASSETS $XX,XXX
──────────────────────────────────────────────────────────────────
TOTAL ASSETS $XXX,XXX
══════════════════════════════════════════════════════════════════
──────────────────────────────────────────────────────────────────
LIABILITIES
──────────────────────────────────────────────────────────────────
CURRENT LIABILITIES
Accounts payable $XX,XXX
Accrued liabilities (wages, taxes, interest) $X,XXX
Short-term debt and current portion of LTD $X,XXX
Deferred revenue (current) $XX,XXX ← SaaS / annual prepay
Sales tax payable $X,XXX
Payroll taxes payable $X,XXX
Operating lease liability (current, ASC 842) $X,XXX
Other current liabilities $X,XXX
--------
TOTAL CURRENT LIABILITIES $XX,XXX
NON-CURRENT LIABILITIES
Long-term debt $XX,XXX
Deferred revenue (non-current) $X,XXX
Operating lease liability (non-current) $X,XXX
Deferred tax liabilities $X,XXX
Other non-current liabilities $X,XXX
--------
TOTAL NON-CURRENT LIABILITIES $XX,XXX
──────────────────────────────────────────────────────────────────
TOTAL LIABILITIES $XXX,XXX
══════════════════════════════════════════════════════════════════
EQUITY (entity-specific - see below)
──────────────────────────────────────────────────────────────────
Total equity (entity-specific structure) $XX,XXX
══════════════════════════════════════════════════════════════════
TOTAL LIABILITIES AND EQUITY $XXX,XXX
══════════════════════════════════════════════════════════════════
CHECK: Assets = Liabilities + Equity ✅ / ⚠ DIFF $X,XXX
Entity-specific equity structure
Sole proprietor / single-member LLC (disregarded entity)
OWNER'S EQUITY
Owner's capital, beginning of period $XX,XXX
+ Net income (loss) for the period $XX,XXX
− Owner's draws ($XX,XXX)
--------
Owner's capital, end of period $XX,XXX
Owner draws are NOT an expense and do NOT appear on the P&L. They reduce equity directly.
Partnership / multi-member LLC (taxed as partnership)
PARTNERS' CAPITAL
Partner A capital, beginning $XX,XXX
+ Allocated profit (loss) $X,XXX
− Withdrawals ($X,XXX)
--------
Partner A capital, end $XX,XXX
Partner B capital, end $XX,XXX
--------
TOTAL PARTNERS' CAPITAL $XX,XXX
Tracked by partner; supports K-1 capital account reporting (tax basis vs §704(b) basis).
S-corp
SHAREHOLDERS' EQUITY
Common stock, par value $X,XXX
Additional paid-in capital $X,XXX
Retained earnings (AAA - accumulated adjustments) $XX,XXX
Distributions to shareholders ($XX,XXX)
--------
TOTAL SHAREHOLDERS' EQUITY $XX,XXX
S-corp distributions reduce Accumulated Adjustments Account (AAA), not "draws." Excess over AAA = return of capital, then capital gain. See Form 1120-S Schedule M-2. Shareholder basis is tracked separately on Form 7203 and is critical for distributing without recognizing gain.
C-corp
STOCKHOLDERS' EQUITY
Common stock, par value $X.XX, X,XXX shares
issued and outstanding $X,XXX
Preferred stock (if any) $X,XXX
Additional paid-in capital $XX,XXX
Retained earnings $XX,XXX
Treasury stock ($X,XXX)
Accumulated other comprehensive income (AOCI) $X,XXX
--------
TOTAL STOCKHOLDERS' EQUITY $XX,XXX
Dividends declared reduce retained earnings; treasury stock at cost.
Single-member LLC (disregarded for tax) but may report on B/S
Use sole-proprietor structure unless LLC has elected S-corp / C-corp tax treatment, in which case use that entity's structure.
Common SMB B/S issues to watch
Negative equity - typical for early-stage businesses with accumulated losses or owner draws exceeding contributions. Lender red flag.
Owner draws on the P&L - sole prop / partnership / SMLLC owner draws should NOT be on the P&L. If they are, reclassify to equity.
Personal credit-card debt for business purchases - should be on the business B/S only if the business legally owes the debt; otherwise it's an owner contribution + business AP.
PPP / SBA / EIDL loan balances - long-term debt, often with deferred interest; verify terms.
Lease obligations under ASC 842 - operating leases create both right-of-use asset AND lease liability on the B/S, even for SMBs (small-business exemption is limited).
Inventory valuation - FIFO vs LIFO vs weighted average; LCNRV impairment under ASC 330. Affects both B/S and COGS.
Goodwill / intangibles from acquisition - required testing under ASC 350; private companies may elect amortization simplification.
Deferred revenue (ASC 606) - annual prepay creates a liability; B/S without this overstates equity for SaaS.
Related-party balances - owner loans to/from the business should be separately presented.
Liquidity and leverage ratios
After producing the B/S, compute and present:
LIQUIDITY
Working capital = Current assets − Current liabilities
Current ratio = Current assets / Current liabilities (target > 1.5)
Quick ratio = (Cash + AR + securities) / Current liab (target > 1.0)
LEVERAGE
Debt-to-equity = Total liabilities / Total equity
Debt-to-assets = Total liabilities / Total assets
Interest coverage = EBIT / Interest expense (lender covenant)
EFFICIENCY (from B/S + P&L)
Days Sales Outstanding (DSO) = (AR / Revenue) × Days
Days Inventory Outstanding (DIO) = (Inventory / COGS) × Days
Days Payable Outstanding (DPO) = (AP / COGS) × Days
Cash Conversion Cycle = DSO + DIO − DPO
GAAP vs tax-basis flag
When the user requests a tax-basis B/S (e.g., to match Form 1065 / 1120-S Schedule L), explicitly note:
Depreciation method may differ (MACRS vs straight-line)
Inventory may follow §263A UNICAP rules
Bad-debt reserves typically not reported (tax-basis writes off only when worthless)
Deferred tax liabilities generally not shown
Owner-employee benefits (S-corp >2% shareholder health insurance) reported differently
Collect asset, liability, and equity balances (with prior-period if comparing).
Build asset / liability / equity sections per entity-specific structure.
Verify Assets = Liabilities + Equity (flag any imbalance for investigation).
Compute liquidity and leverage ratios.
Flag SMB-typical issues (deferred rev, leases, owner draws, etc.).
Output B/S + ratios + observations with disclaimer footer.
Offer to save to balance-sheet-<as-of>.md in the workspace.
Templates and analytical tools only - not personalized financial, tax, accounting, or legal advice. Generated [DATE]. Jurisdiction: [SELECTED]. reporting_basis: [SELECTED]. Entity-specific equity structure must match the entity type; GAAP / tax-basis / cash-basis / modified-cash bases produce materially different statements. ASC 606 deferred revenue, ASC 842 leases, and ASC 350 goodwill testing apply on accrual / GAAP B/S. Review with a qualified CPA before sharing externally with lenders, investors, M&A counterparties, or the IRS. Wayland and the plugin authors disclaim all liability for use of these templates.