Photography Balance Sheet Template

Start with the Equipment Register before filling in anything else. List every piece of gear and technology you own: camera bodies, lenses, lighting and modifiers, computers, monitors, studio furniture, and any other equipment purchased for the business. Use your original purchase receipts or credit card records to enter the actual cost and date for each item. The sheet handles the depreciation math — most photography equipment depreciates over five to seven years using the straight-line method — and calculates net book value per item and category totals that flow into the balance sheet automatically. If you've had equipment for years and never tracked depreciation, your accountant can provide the accumulated depreciation figures from prior tax returns.

Most photographers track bookings and income closely but have no clear picture of what the business is actually worth. The income statement tells you how much you earned last year; the balance sheet tells you whether that income built any lasting equity or got drawn out as fast as it came in. Photography businesses carry real, depreciable assets — a working kit of cameras, lenses, and lighting can represent $20,000 to $80,000 or more in equipment — and most photographers have never put a depreciated value on any of it. Without a balance sheet, you're running a business without knowing its net worth, which makes conversations with lenders, potential partners, or even your own accountant harder than they need to be.

Key Performance Indicators