The net income is the clean and final profit of the company. Calculating this income means subtracting the expenses, operating costs, and taxes from the previous revenue of the company. However, net income is sometimes confused with gross income. Take note that the gross income is the value before the necessary deduction. Established and small businesses base their profitability on their net income. Self-employed individuals can also compute for their net income from their personal income. This article provides a list of printable net income statements that you can utilize for your personal or business accounting.
10+ Net Income Templates in Google Docs | Word | Excel | Pages | Numbers | PDF
1. Income Statement Template
Before coming up with the final figures of your net income, you need to list down all of your revenue and expenses for a particular period. This template makes use of an annual format and considers all the possible expenses a small business makes within a year. Download this template to help make your computations faster and more organized.
2. Income Statement Monthly Template
This Income Statement Monthly Template also uses an annual format but breaks down the figures for each month. It does not only provide more transparent data; the trend of the expenses and gains are also visible. Furthermore, this financial statement is fully editable, so you can include factors that are not in the suggested list.
3. Income Statement Monthly Template
As what is visible on this document, there is a clear division between the list of revenue and expenses. These segments make the statement more understandable, making it a great supplementary tool during the end of quarter business reports. This blank template is fully editable with different file formats such as Google Docs and MS Word.
5 Steps in Making a Net Income Statement
Step 1: List Revenues
The nature of the business determines various sources of revenue. Income comes from the daily and normal operations of the company. You can make a list as general or as detailed as possible. Either way, make sure that the amount is exact and accurate.
Step 2: Have a Separate List of Expenses
The calculation for the net and gross income needs the figures for both revenue and expenses. The list can cover everything from operation costs, research funds, marketing investments, and advertising materials. It is best to go into detail when listing down the expenses to effectively track down each purchase or transaction.
Step 3: Determine the Gross and Net Income
Before computing and deducting the taxes, the total is called the gross income. The income tax depends on the total revenue of the business. The total income minus the costs and taxes is equal to the net income. Both of these values are important in determining the profitability of the company or the person.
Step 4: Attach Supplementary Documents
Supporting documents like other financial statements of the company are used to make the net income statement credible and reliable. Include economic materials like balance sheets and cash flows of the previous months.
Step 5: Check and Balance
Although the terms checks and balances are more apt for legal proceedings, it is also useful in other matters, such as in making an invoice statement. Make sure that the expenses and income are at a balance. In the process of finalizing the report, double-check the previous documents and invoices.
4. Income Statement Monthly Template
A net income statement sheet bears the same weight and importance as balance sheets and cash flows. These legal documents are vital for an investor. It lets them measure the potential profitability of a business that they have plans of investing in. These are dealbreakers because it shows the relationship between the expense and return of income.
5. Income Statement Template
Since this financial statement is also an expense document, an income statement is an excellent reference tool when drafting a budget proposal for the incoming year. You can base your projected budget on the previous expenses. As for the fixed costs, you can already include the exact amount in the equation. So, what are you waiting for? Download and enjoy its utility now.
6. Quarterly Income Statement Template
An income statement can also help you decide which department receives the most budget relative to others. Aside from their proposals and plans, the revenue that they contribute to the company is a significant factor to consider. Considering this factor can also affect the work behavior of the team. It pushes them to do a better job. This statement is available for your immediate use.
7. Free Income Expense Sheet Template
This blank document focuses on your expenses, operation costs, and taxes. Within the company, you can use this tool to evaluate the expenses of a project. You can have a customized list of the costs and provide its specifications for transparency. Each expense keeps track of the balance of the awarded budget. This template can be yours forever, so download now!
8. Free Income Statement Template
Companies work with a reasonable budget to keep the business in the market. Keeping accurate copies of different financial statements like a net income statement tracks if your revenue covers the expenses. This template is also a practical list of your commercial activities. You can customize this template with MS Excel and MAC Apple Numbers.
9. Free Editable Monthly Income Blank Spreadsheet Template
For self-employed individuals, an income sheet helps you keep track of how much tax you need to pay. The net income of companies are more stable than personal incomes, so there is a need to double-check the tax amount every end of the fiscal year. Be a responsible taxpayer, start by downloading a tool that can help you.
10. How to Prepare a Profit and Loss Statement
If it is your first time drafting a net income statement, you need to know about the basics, familiarize the terms, and fully comprehend its use and purpose. You can gather all these pieces of information from this reference material. This material from the Zions Bank holds a business outlook, so this is effectively useful for starting organizations.
11. Sample Income Statement
Say, for example, you are tasked to come up with an income statement from scratch. You do not know where to start and what to write. This sample statement can give you an idea of how it looks and provides information about the basic and crucial information to include.