Income Statements & Excel Sheets
An income statement is the most crucial accounting tool that you can have for your business be it a big or a small business. Without an income statement, it is impossible for you to know how much profit you have made. It shows what your revenue for the entire year and what your expenses for the year were. This allows you to note down the cost of the goods sold and the revenue generated against that.
A typical income statement starts with the revenue you have made in the entire year. Then you subtract the cost of the goods sold from the revenue to get the gross profit. From the gross profit, you deduct all the expenses like salaries, rent, electricity etc. and you get the net profit. This figure highlights the total profit you have made in the entire year.
If you have a business and you need to make an income statement, then you can download any income statement template from the internet and list down all the revenues and expenses you made in the entire year. A template will benefit you in the way, you will not have to write everything down, you will just have to enter the figures and you will get the result yourself. It shall save your time and effort as a majority of the expenses will be listed already.
Download your file below.
Income Statement Template
File Size: 39 KB