If you are looking to create an income statement for your business, or for a school project, it is important that the job be done professionally and thoroughly. Income statements may seem simple, but there are many factors that go into compiling one. If any detail is missed, the entire projections of the statement can be thrown off. The best way to go about the process is to use an Excel spreadsheet. The ready made Excel Income Statement Template is perfect for compiling the income statement for your company, restaurant, small business, or project.
Use the Excel Income Statement Template
This Excel Income Statement Template is free, easy to download, and requires little expertise to use. The spreadsheet is already designed, formatted and created in a professional manner. All you have to do is add your company’s name to the top, add the date you wish to use, and begin filling out the various sections. These sections can be filled out on the computer, or after you print out a blank template.
The Excel Income Statement Template is available for download on this page, and opens with any recent version of Microsoft Excel. After opening the file, you might want to save a blank template onto your computer as a reference. After that, you can edit the original as you wish. You can change the colors, add/remove columns, and add your company name/logo as desired.
The Excel Income Statement Template is Efficient and Easy to Use
The great thing about this template is how easy it is to download and use. All the different sections you would need are already created. If you want to add information about operating expenses, you can put it into a specific section. There are sections for salaries, commissions, advertising, employee benefits, rent, utilities, postage, travel/entertainment, and furniture/equipment.
Revenue is simply divided into gross sales, the loss from sales returns, and net sales. If you wish to add other columns to any section, you can do so on Excel. There are two major sections on the income statement: one represents the current month, while the other is for the year to date.
Download: Excel Income Statement Template