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. Retail Income Statement Templates help to make these statements.
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5 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.
8+ Retail Income Statement Templates in PDF | DOC | XLS
1. Retail Income Statement Template
An income statement is one of the most important financial statements that is drafted for the use of an organization. If you want to make this statement for your organization, then you need to download this professional statement template. This template will help you to make the income statement for retail purposes.
2. Retail Income Statement Template in PDF
An income statement is drafted to help determine the profit and loss statements for an organization. Such statements are very essential for the smooth running of the organization. Do you want to make this statement for your retail business too? Then you need to download this standard statement template in PDF format.
3. Contribution Retail Income Statement Template
A retail income statement is created to show what profits the business has made and the losses that have been incurred during the fiscal year. You can easily make this income statement for your retail business too if you just make use of this basic statement template. This template is available to be downloaded in sizes A4 and US Letter.
4. Retail Income Statement Template in DOC
Knowing how to make the income statement is crucial especially when you are handling a business. However, we understand that everyone is not adept at this task. Which is why we are offering this sample statement template just for your use. The template comes with a sample income statement that is very simple and easy to use.
5. Retail Income Statement Example
Are you a rookie at making income statements but have to make them anyway for your retail business? Then we would suggest that you take a look at this statement example template before you can start work on yours. This statement template comes with an example of a similar income statement that just needs to be downloaded to be used.
6. Retail Corporation Income Statement Template
An income statement is a financial statement that needs to be made no matter the kind of organization you are working for. So if you are working for a retail corporation and want to make the income statement for the same, then this Retail Corporation Income Statement Template is just the thing for you. Download this template now to make your financial statement!
7. Retail Consolidation Income Statement Template
A consolidated income statement refers to the financial accounts of a group in which the mother business and its affiliates present their investments, liabilities, equity, earnings, expenditures and money transfers as those of a separate financial institution. You can make this statement for your retail needs easily with the help of this statement template.
8. Professional Retail Income Statement Template
One of the most important things that you need to remember while making an income statement is to make it with a professional and formal tone. Are you having trouble with this task? No need to worry; we can help you out. Just download our free statement template and you will be good to go!
9. Retail Income Statement Template in XLS
Are you looking for a tool to help you make the income statement for your retail business? Then you need to stop searching right now as you are already in the right place! With the assistance of this Retail Income Statement Template, you will get a sample income statement that is readily available for download and use in XLS format.