Balance Sheet Basic Check: Does It Balance and Does It Make Sense?
Check the balance sheet equation and key ratios.
Added October 15, 2026. Written with AI assistance and checked for clarity and placeholders; not reviewed by a lawyer, accountant, clinician or other professional. How these prompts are made
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[VERIFY] is an editorial flag, not a blank to fill. Wherever the prompt shows [VERIFY], check that item against a reliable source before you use it (what [VERIFY] means).
Check my balance sheet. The balance sheet lines with amounts: [BALANCE_SHEET_LINES]. The date: [BALANCE_DATE]. Prior balance sheet: [PRIOR_BALANCE_SHEET]. Known events (loan, large purchase, owner drawings): [KNOWN_EVENTS]. Verify that assets equal liabilities plus equity by recomputing each subtotal, showing the arithmetic and any difference. Compute basic ratios (current assets divided by current liabilities, cash as a number of months of average monthly expenses if I provide them, debt to equity) and explain what each tells in plain words and what it cannot tell. Compare with the prior sheet and highlight large movements with candidate reasons from my known events. List questions about unusual items (negative cash, owner loans, accruals, prepayments) and what documents would resolve them. This is a reading aid, not accounting advice. Ask an accountant for anything that affects reporting or tax [VERIFY]. Add a worked example with invented figures: assets 84,000 (cash 12,000, receivables 30,000, equipment 42,000), liabilities 51,000, equity 33,000, which balances (51,000 + 33,000 = 84,000), a current ratio of 42,000 / 38,000 = 1.1, and a plain-language note of what that suggests and what it hides.
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