Table of Contents
- Statement Template Bundle
- 20+ Income Statement Templates in Google Docs | Google Sheets | Excel | Word | Numbers | Pages | PDF
- 1. Monthly Income Statement Template
- 2. Company Income Statement Template
- 3. Quarterly Income Statement Template
- 4. Restaurant Income Statement Quarterly Template
- 5. Restaurant Income Statement Template
- 6. General Income Statement Template
- 7. Free Income Statement Template
- 8. Income Statement Template
- 9. Income Statement Format
- 10. School Income Statement Template
- 11. Income Statement Form
- 12. Cash Flow Income Statement Template
- 13. Income Statement Source Form in PDF
- 14. Income Statement Template in DOC
- 15. Sample Income Statement
- 16. Cash Income Statement Template
- 17. Standard Income Statement
- 18. Financial Planning Income Statement Template
- 19. Profit and Loss Income Statement Example
- 20. Financial Income Statement Template
- 21. Consolidated Income Statement Template in PDF
- 5 Steps on How to Create a Profit and Loss Statement in Excel
- Elements That Must Be Included an Income Statement
20+ Income Statement Templates in Google Docs | Google Sheets | Excel | Word | Numbers | Pages | PDF
There are several types of financial statements that are drafted in an organization. One of them involves the income statement or the profit and loss account. The income statement is an official document that is drafted to show the company’s revenues and expenses throughout a specific duration. The income statement of the organization is one of the three important financial statements used to report the financial performance of a company over a particular accounting period, with the other two key statements being the balance sheet and the cash flow statement.
Statement Template Bundle
20+ Income Statement Templates in Google Docs | Google Sheets | Excel | Word | Numbers | Pages | PDF
1. Monthly Income Statement Template
2. Company Income Statement Template
3. Quarterly Income Statement Template
4. Restaurant Income Statement Quarterly Template
5. Restaurant Income Statement Template
6. General Income Statement Template
7. Free Income Statement Template
8. Income Statement Template
theinstitutes.org9. Income Statement Format
org.tr10. School Income Statement Template
wi.gov11. Income Statement Form
nebraska.gov12. Cash Flow Income Statement Template
asimplemodel.com13. Income Statement Source Form in PDF
miamidade.gov14. Income Statement Template in DOC
bivio.com15. Sample Income Statement
olmsteadassoc.com16. Cash Income Statement Template
wisconsinsbdc.org17. Standard Income Statement
masterclassmanagement.com18. Financial Planning Income Statement Template
semanticscholar.org19. Profit and Loss Income Statement Example
turkishairlines.com20. Financial Income Statement Template
pe.ca21. Consolidated Income Statement Template in PDF
vodafone.com5 Steps on How to Create a Profit and Loss Statement in Excel
Step 1: Create a New Document in Excel
Several different software applications can be used to create a profit and loss statement such as Google Sheets, Word, Excel, Numbers, Pages, etc. However, the best available application is Excel. Excel allows editing and creating options that others do not. For this, you need to have MS Excel downloaded on your PC. Once you have made sure that you have that, you need to open the software and then create a new workbook in it.
Step 2: Make the Columns
As already established, you have to create a new document with two spreadsheets. One will be for the profit statement and the other will be for the loss statement. You need to make columns accordingly in the two spreadsheets. For both the sheets, the columns should be made according to whatever you want to include in the statement. Determine the headings for each column and then title them accordingly.
Step 3: Format the Columns
The next step is to format the columns that you have made in the workbook. Enable automatic formatting in the columns by clicking its letter heading. Then you need to select the appropriate categories for the columns such as currency for monetary amounts and date for income dates.
Step 4: Record the Profit and Loss Data
Once you have formatted the columns according to your need, you need to set up the workbook and record all the data. After you have recorded all the required data, you need to sort the recorded data and then input it in the appropriate columns. The general data that you can include are the date, the amounts for profits and losses, and the transaction details.
Step 5: Proofread the Workbook
Finally, when you have completed making the workbook, you need to proofread it. Check for any kind of missing information on the spreadsheets. Make the changes as required. Also, check the workbook for any sort of grammatical or spelling mistakes. When you are satisfied with the workbook, you will have your profit and loss statement ready.
Elements That Must Be Included an Income Statement
1: Revenue
Revenue refers to the amount that the company or the organization receives from the sale of their products or services. This is displayed right at the top of the income statement. That sum will be the total of the costs of making the sold product or providing services. Many firms have multiple revenue streams that add to a total line of revenue.
2: Cost of Goods
The cost of goods is a line-item that aggregates the direct costs of selling products for revenue generation. If the company is a service business, this line item may also be called the cost of sales. Direct costs may involve labor, components, equipment, and other expenditures such as depreciation.
3: Gross Profit
Gross Profit is determined by subtracting Sales Revenue from the Cost of Goods Sold or the Selling Price.
4: Extra Expenses
In the income statement, extra expenses refer to costs that have been incurred in places such as marketing, advertising, promotion, and other similar activities. Most businesses have certain costs relating to the sale of goods and/or services. Marketing, advertising, and promotional expenses are always clustered collectively since they are part of the same category.
5: General and Administrative Expenses
General and administrative expenses include the sales general and administrative portion including all such indirect costs involved in maintaining the company. Such expenses include salaries and wages, rental and department expenses, insurance, travel, and sometimes depreciation and amortization. It may also include other operating costs.
6: Depreciation & Amortization Expense
Depreciation and amortization are non-cash costs. Such expenses are created by accountants to spread capital asset costs such as Property, Plant, and Equipment.
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