We have created a Net Worth Calculator spreadsheet for excel that you can download for Free. The first sheet called Calculating Net Worth, divides your assets into the different common categories and allows you to enter their values. It allows you to enter your liabilities and calculates the overall asset value, overall liability value and net worth automatically. You will also be told whether you are making a net gain or a net loss, after filling in all the needed details.
Download Net Worth Calculator
- License – Private Use
- File Type – Excel (.xlsx)
How to Use Net Worth Calculator?
In the net worth calculator template, everything with a light blue fill is inputs you need to make. Everything with a light gray fill is calculated automatically. There is a pie chart, which shows the overall breakdown of the type of assets and a column chart which visually displays your liability breakdown. This is good for at a glance determination and comparison.
There is also a depreciation evaluator sheet for depreciation calculations of fixed assets using both the straight line standard depreciation method and the accelerated depreciation method.
This is included to tell you what your actual depreciation values of your fixed assets are for the year you are calculating in. Remember the straight line method is the simple method of calculating depreciation, whereas the accelerated method is the more complicated method – but delivers the most accurate results. However, the complexity is reduced in this sheet, since you just need to input the cells shaded in blue and everything else is delivered and calculated automatically.
Assets and Liabilities
An asset is defined as a resource with inherent economic value. You also get different types of assets as mentioned. Namely, short-term or current assets, fixed assets, financial investments and intangible assets. Current assets are resources that are expected to be changed into cash in a short period, usually within a year. Cash and cash equivalents are classified as current assets. Fixed assets tend to be things like plants, equipment, PCs, and appliances. One important thing to bear in mind with fixed assets is that their value depreciates.
For example, if you bought a laptop five years ago and are listing it as an asset on your net worth calculation balance sheet now, it wouldn’t be the same value due to depreciation. Investments and securities are classified as financial assets, and intangible assets are things like patents or trademarks.
So, to get the updated actual value of your fixed asset (a few years after purchase), utilize the asset depreciation in our Net worth calculator to tell you how much it has been depreciated by. It is as simple as pie.