Every business large or small needs to provide their income statement to properly measure their organization’s financial performance over a certain accounting period. The Income Template gives you an accurate overview of your financial performance. The Statement also gives you a summary of how your business incurs its various revenues and expenses through operating and non-operating activities. The template will show you the net profit or loss of your business over your set time-frame.
How to Use the Income Statement Template
The first step is to download the free file below by clicking on the link provided at the bottom of the page.
After downloading the Statement Template, you simply fill out each blank space with the appropriate figure listed by the document.
The first section lists a place for you to enter your streams of revenue. You can enter the gross total of sales you gain and the amount of returns and allowances you provide. The next section is where you will enter the cost of goods sold. You can input the beginning inventory and the costs associated with all of that information.
The next thing to enter is the expenses for your business. The template provides you with a plethora of examples of commonly associated expenses for a business.
At the bottom of the page there is a space for you to list any sources of additional income that can attribute to your net income or loss. Everything you need to monitor and document the financial information for your business is available on one simple template.
How the Income Statement Template Helps You
If you want an investor to take you and your business seriously you need to be prepared with a professional-looking Income Statement. This sheet guides you through all the necessary information to provide potential investors and give you valuable insight into the general cash flow of your business.
Download: Income Statement Template