A statement that is used for reporting a company’s financial performance over a specific accounting period is called an income statement. It can also be called profit and loss statement or the statement of revenue and expense. The prime focus of an income statement is the company’s revenues and expenses during a particular period. Plan out an income statement with the help of our statement templates and report all the incomes through a particular time.
5 Steps to Create an Income Statement
Step 1: Give a Heading
Always remember to put a heading to your income statement. It can be anything like the name of the company or simply a title like “Income Statement”.
Step 2: Prepare a Section for Gross Profit
Next, you create a section where you mention the sales revenue which will include all revenue earned from the sale, regardless of whether or not the cash has been collected. Make sure you list out the sales revenue for the period you selected.
Step 3: Calculate the Working Expenses
Remember to calculate the expenses that are directly related to business administration and list the amount of expense incurred during the period. Add all the items in your expense list with a calculator and write the total expense on the next line.
Step 4: Determining the Gains and Losses
Revenues that don’t directly associate with business operations, sales, and production are called non-operational revenues. Make a list of all the non-operational gains. And once you have listed out all the non-operational gains your business has, make sure you add them collectively so you have one number for total gains.
Step 5: Find the Total Revenue
At the end of your income statement, you’ll have to find the gross profit and the gains in the third section of your statement. You’ll have to add the numbers together to find the total profit your business gained over a period. Now, get the total expenses by combining operational and non-operational losses to get your net income.
22+ Income Statement Templates
1. Income Statement Monthly Template
Do you want to effectively report a company’s financial performance over a month? Make use of our professionally designed monthly income statement template in Word which is easy to use and is ready-made as well. It will help you create a document that will focus on the company’s revenues and expenses during a month to better help you access your company’s performance. Get this print-ready template and you can even share it digitally.
2. Income Statement Template
If you want to make an income statement plan for your company or business, then get this ready-made income statement template in Docs format. It takes a lot of time and effort to make an income statement where you need to avoid errors with computing the data on hand. Our template can do all this for you and also make use of professionally created content which you can edit to better suit your needs. Grab this great deal today!
3. Quarterly Income Statement Template
Are you in need of something that can help you create a statement that shows the quarterly profit or loss of a business? If that’s the case, then this quarterly income statement template in Pages format should prove to be immensely helpful. You’ll be able to create an effective report that details your company’s financial performance over the quarter and do the necessary improvements. Make any necessary edits and then print it out or share it digitally. Download it now!
4. Restaurant Income Statement Quarterly Template
If you’re looking for a particular document which you can use for your restaurant business’s financial report, then get your hands on this ready-made income statement template. With this statement template, you can make a proper income statement on a quarterly basis. Make any kind of customizations in the professional content provided or changes that come in your mind and increase your potential to better run your restaurant business. Download this ready-made template today!
5. Restaurant Income Statement Template
Get your hands on this restaurant income statement sample template that will help you create a document that summarizes the revenue, costs, and expenses collected during a specific period of time. This template is perfect for restaurant owners to better understand their net profit or loss, as well as identifying areas that contribute or hamper the business. You get features like automatic calculation and ready-made content for your purpose. We guarantee downloading it will be worth your while so get it now!
6. Free Income Statement Template
If you are in a dire need of a document that will help you out in preparing a financial statement, then you can simply take the help of our income statement template. This template which can also be opened in MS Excel will guide you to make a report about a company’s financial performance over a specific accounting period. It is a high-quality template that is also printable and downloadable in any device. Download this template now while it is still available.
7. Income Statement in PDF
An income statement is a very important part of a business or any other organization. If you require one for your organization or business then make sure you go through our income statement template in PDF format. By using this template you can easily prepare an error-free and professional income statement carrying out all the information related to the financial department. It can also be edited to meet your needs and can also be printed. Get it now!
8. Annual Income Statement Balance Sheet
A statement of income measures the insurer’s earnings over the course of the year and serves as the basis for determining the insurer’s federal income tax liability. Use this annual income expense sheet template to get help regarding the details on the source of the premiums, expenses, and investment income of the year. Grab this template and make your income statement look more professional.
9. Employee Income Statement Template
If you are an employer who needs to make a document stating the employee income statement, then our employee income statement template will help you in every way possible. This template has a ready-made content that you can use for recording the income of every employee working under you. You can simply download and fill in the details of your employee and the amount of income. Get it now to start with your income statement immediately.
10. Household Income Statement Template
If you’re worried about making an income statement about your household from scratch then you better take a look at this household income statement template to make your worries go away. This template will clearly help you in making a proper financial statement without any hassle and on top of that, you can edit the content without any problem. So hurry up and grab this useful template right now!
11. Source of Income Statement Template
Are you looking for a particular template that lays out a proper source income statement? If yes, then look no more, as we might have a suitable template to match your needs. Our source income statement template comes with a complete ready-made content where you can just fill in the blanks to make an income statement which will determine the source of the income. Download this easily accessible template and carry on with your income statement without any issues. Our billing statement template can also help you in making statements related to your everyday bills.
12. Sample Income Statement Template
Preparing an income statement is not an easy task. If you’re wondering how you can prepare one for your business purpose then just download this sample income statement template in any of your devices. This template provides a sample copy of an income statement that you can use just by editing the required details personalize it without any hassle. Get it now while you still and enjoy all its perks.
13. Income Statement Template in PDF
Do you want to write down some footnotes about an income statement? If yes, then let our income statement footnotes template help you out. With its ready-made content and editable feature, you can easily create a well-organized and well-written income statement where you can also include additional footnotes. Make any kind of customization through any editing program and you can also have a print. Download it now and you can experience this beneficial template now.
14. Basic Income Statement
If you need of an income statement that will help you in calculating the yearly income of your company or all other profits and losses, then get your hands on this basic income statement template. This template is made by professionals so that it’s user does not face any difficulty in understanding it. You can even customize it according to your needs and print it out whenever you want.
15. Simple Income Statement Template
In case you have no time to spare to prepare an income statement carrying out a list of revenues, cost of sales and other requirements. You can rely on our simple income statement template which will help you carry out an income statement or even a profit and loss statement outlining the list of revenues, selling expenses, gross profit, etc. Don’t waste your time anymore and download it now!
16. Company Income Statement Example
Take the help of this standard quality company income statement example template that will allow you to make an income statement of your company. It provides you with a simple example laying out a detailed income statement with all the important information required. Do not miss this opportunity and grab this template now to start with your income statement right away.