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Benefits: An income statement (sometimes
called a profit and loss statement) lists your revenues and expenses, and tells
you the profit or loss of your business for a given period of time. You've
probably seen a formal income statement for other businesses or have paid your
accountant to prepare one for yours. If you would like to try creating an income
statement yourself for your business, you can use the spreadsheet template,
contained in the attached file, as a starting point. Just plug in your income
and expense account balances and the spreadsheet will automatically calculate
all the subtotals and totals, and compute your net income.
Although the template is an example of an income
statement for a business that purchases inventory and processes it into a final
product, you can quickly customize it to reflect your business situation.
File Description: The file contains a
Microsoft Excel (version 4.0 and above) spreadsheet template. Once you've
downloaded the file, you must copy it to your EXCEL\XLSTART directory in order
to use it.
 Income
statement template
Special Features:
- Download this spreadsheet template just once,
and be able to use it over and over again.
- The spreadsheet already contains many account
titles used by various types of businesses in preparing an income statement.
- The spreadsheet is completely customizable: you
can quickly add or delete account titles or revise the format to suit your
needs.
- The spreadsheet is easy to use. Just plug in
your numbers and it will automatically calculate all the subtotals and totals
and compute your net income.
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