Schedule 3 Balance Sheet
Present a clean, compliant Schedule III–aligned balance sheet—with current vs non-current splits, clear notes references, and board-ready output for Indian companies.
myBillBook Digital Billing Software auto-builds your balance sheet from recorded transactions, so you don’t waste time creating formats manually—just pick the date range and export.
Features of myBillBook’s Schedule 3 Balance Sheet

Instant Report
Generate a Schedule III-style balance sheet from recorded transactions. Skip manual formatting, pull balances automatically, and present a statement ready for reviews and board meetings.

Comparative View
Display current and previous year figures side by side. Highlight variances and trends, making reviews faster and helping stakeholders understand performance changes at a glance.

Group Mapping
Map ledger accounts to Schedule III heads using a mapping sheet. Ensure consistent classification each period and quickly spot unmapped ledgers before finalising financial statements.

Ledger Drilldown
Click balances to trace supporting ledgers and vouchers. Investigate differences, verify postings, and shorten closing cycles by resolving classification issues without leaving the report quickly.

Branch Filters
Filter balance sheets by branch, location, or segment. Compare results across units, align with reporting structures, and export filtered statements for management reviews or audits.

Rounding Modes
Display amounts in rupees, lakhs, or crores as needed. Apply consistent rounding across the statement to improve readability in board packs and external presentations significantly.

Notes Column
Add note numbers beside line items and maintain disclosures on separate pages. Keep explanations organised, ensure cross-references match, and streamline auditor queries during reviews easily.

PDF Export
Export a polished balance sheet to PDF with headers, footers, and page numbers. Preserve fonts and margins for consistent, print-ready documents across teams and stakeholders.

Role Permissions
Control who can view, export, or modify reports using role-based access. Protect sensitive financial data while enabling collaboration between accounting teams, management, and auditors securely.
What is a Schedule 3 Balance Sheet?
A Schedule 3 Balance Sheet is almost similar to a regular balance sheet. But it includes the financial information of all company subsidiaries, making it a consolidated balance sheet. This statement is usually included as part of a company’s annual report. However, it should not be confused with a provisional balance sheet, a preliminary statement subject to change before being finalised. It is also different from a vertical balance sheet, which presents the assets, liabilities, and equity in a vertical format, with assets listed first, followed by liabilities and equity.
Components of a Schedule 3 Balance Sheet
The schedule 3 balance sheet format is a detailed breakdown of a company’s assets, liabilities, and equity as of a specific date, including the financial information of all company subsidiaries.
Hence understanding the schedule 3 balance sheet format is crucial for investors and other stakeholders to assess a company’s financial health. However, the schedule 3 balance sheet format is different from a regular balance sheet as it includes the financial information of all subsidiaries.
- Assets
- Liabilities and
- Equity
Schedule 3 Balance Sheet Example
A sample Schedule 3 Balance Sheet is attached below to help you understand the different components of the statement. The example provided shows the balance sheet format of a company with the information on the company’s assets, liabilities, and equity as of that date. This sample can also guide how to make a balance sheet, as it demonstrates the proper placement and categorisation of assets, liabilities, and equity.
Importance of a Schedule 3 Balance Sheet
A Schedule 3 Balance Sheet is an important financial statement for businesses as it:
- Provides financial position snapshot
- Helps understand liquidity and solvency
- Helps identify financial problems
- Assesses financial health
- Includes subsidiary financial information
- Required for compliance
- Helps in budgeting and forecasting
- Essential for informed business decisions
- Allows comparison of the company’s performance
- Helps track progress towards financial goals.
Limitations of a Schedule 3 Balance Sheet
The balance sheet as per schedule 3, is a consolidated balance sheet that provides a comprehensive view of a company’s financial position, including the performance of its subsidiaries. However, it only provides information as of a specific date and does not account for any changes that have occurred since that date. It also does not provide information on a company’s operational performance, such as revenue and expenses.
Using Schedule 3 Balance Sheets for Better Businesses
Creating a Schedule 3 Balance Sheet can help businesses improve their financial performance. Management can identify potential financial problems and take corrective action by reviewing the statement. It also helps in budgeting and forecasting future financials.
It is also important for compliance, as filing tax returns and annual reports are required.
Therefore, the balance sheet, as per schedule 3, is an essential document for any company, providing a clear picture of its financial position, including the performance of its subsidiaries. And creating a balance sheet as per schedule 3 can help businesses identify potential financial problems and take corrective action.
Frequently Asked Questions
How often should a Schedule 3 Balance Sheet be created?
A Schedule 3 Balance Sheet should be created regularly, typically at the end of each financial year.
What is the purpose of a Schedule 3 Balance Sheet?
The purpose of a Schedule 3 Balance Sheet is to provide a snapshot of the financial status of a company at a specific point in time.
What is the difference between a Schedule 3 Balance Sheet and a regular balance sheet?
A schedule 3 balance sheet, also known as a consolidated balance sheet, includes the financial information of all company subsidiaries. In contrast, a regular balance sheet only includes the financial information of the parent company.
What is the difference between Schedule 3 Balance Sheet and the consolidated financial statement?
A Schedule 3 Balance Sheet is a consolidated financial statement dealing with a company's balance sheet and its subsidiaries. Consolidated financial statements include other financial statements like income and cash flow statements and the balance sheet.
How can the Schedule 3 Balance Sheet be used to analyse a company's liquidity?
A Schedule 3 Balance Sheet can be used to analyse a company's liquidity by comparing the ratio of current assets to current liabilities. A ratio in high level indicates that the company has a solid ability to meet its short-term obligations.
What information is required to create a Schedule 3 Balance Sheet?
To create a Schedule 3 Balance Sheet, you will need information on the parent company's assets, liabilities, and equity and all its subsidiaries as of a specific date.
Is Schedule III mandatory for all Indian companies?
Yes. Companies governed by the Companies Act, 2013 generally present financial statements as per Schedule III; the applicable division depends on the accounting framework they follow.
What are Division I, Division II, and Division III in Schedule III?
Division I applies to AS companies, Division II to Ind AS companies, and Division III to NBFCs that follow Ind AS—each has specific presentation/disclosure requirements.
How are current and non-current items classified under Schedule III?
Items expected to be realized/settled within 12 months are current; others are non-current. This split improves clarity about liquidity and the timing of cash flows.
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