How To Make/Create an Income Statement [Templates + Examples] 2023

Make an Income Statement Template – Step-by-Step Instructions

Individuals receive their income statements as employees or with organizations providing these documents for their employees, using word processing applications or spreadsheet programs like Microsoft Word, Google Sheets, and Apple Pages. Since income statements are financial documents, they help the organization track and monitor the effectiveness of strategies and develop the best solutions to address problems.

• Step 1: Browse for an Income Statement Template (Option 1)

  Visit the Template.net website using your web browser and look for an income statement template by browsing the landing page for income statements and editing and downloading them in suitable file formats for your device’s applications. Select the document template to represent the sales or revenue and expenses a company incurs for a specific duration.

• Step 2: Use the Search Bar to Browse Income Statement Documents (Option 2)

  Aside from navigating directly to the income statement template page, another option you can do is to go to the Template.net website and use the search bar. Input Income Statement Templates on the box to look at various categories for income statements or specific product pages you want to use.

• Step 3: Select the Income Statement Template

  Click on the image of the income statement you want to use; for this example, the income statement template. Choose a file format from the right section of the product page to download the file directly to your device using the Download Now button using your Template.net PRO account, saving the MS Word format to open it in Microsoft Word.

• Step 4: Write the Document Title

  Edit the document title to resonate with the contents on paper, writing the words income statement for the title, together with the company name. On many occasions, it also helps to add more details about the company, including their professional email address, company address, and contact numbers for reference.

• Step 5: Record Sales/Revenue

  Construct the first section of the income statement, detailing the sales and revenue that the organization accumulated for a specific period, whether weekly, monthly or annually. In the example, the sales table contains two columns for each year of operation, with rows about different types of revenue, including sales, services, interest, and other forms of income.

• Step 6: List Associated Expenses

  After recording the revenue for a specific period, the following section covers all relevant fees and expenses the organization incurs within a given timeline for internal and external factors. When writing the expenses, divide them into specific categories to make it easier to record each expense, dedicating rows for each, like insurance, transportation, debt, and advertising.

• Step 7: Save the Changes for the Income Statement

  After making all the necessary changes to the template, you can now save the income statement for your company for record-keeping or use it as supporting documents when getting business loans or credit. Save the document using Microsoft Word by clicking the File menu and choosing the Save As option to save the changes to a specific folder or directly print the statement.