Companies that want to track their business revenue and expenses often use a comparative income statement. This helps them view the overall differences that have taken place in the current year compared to the past year. It is used to learn how much revenue and expenses have increased or decreased for their company -which is important for many businesses. Using a custom form for your business is more appealing, and easier to work on since it can contain the necessary information specific to your business. With the free template available on this page, you can create your own comparative income statement and customize it as you see fit. Download the template available on this page for free. Compatible with Microsoft Excel 2003 or later.
How to Use the Comparative Income Statement Template
- Download the file to your computer and save it to any preferred folder or to the desktop for easy access.
- Locate the file and open it to start editing the text fields with your own business details. The first area to edit is the name located at the top with your own information.
- The comparative income statement has several areas you can edit. By looking through the sheet you can delete any rows that will not be used or leave blank. Enter details for the rows that correspond to your business.
Tips for Using the Comparative Income Statement Template
- The template is easy to customize, therefore you can also add additional rows for any other items to calculate the net sales, gross profits and more.
- You can create an additional column and add notes next to the percent change. Was the change positive or negative?
- If the statement is being shared by more than one person, adding information after the table can help for reminders or any other details you want to share.
With the easy-to-use, and customize template, having your own well designed comparative income statement specific to your business needs will be essential for growth. It is very important to pay attention to the revenue and expenses incurred during any present and past year. By comparing these areas you can improve the potential for increased profits to your business.
Download: Comparative Income Statement