Simple Income Statement Generator

The alternative is the single step income statement which totals both operational and nonoperational profits and expenses in one swoop to arrive at the net income or loss.

Simple income statement generator. A single step income statement is a basic income statement. The simple multi step income statement separately groups the operational and nonoperational sections of the statement. Reusing them is simply a matter of copy and paste. The income statement also called a profit and loss statement profit and loss statement p l a profit and loss statement p l or income statement or statement of operations is a financial report that provides a summary of a summarizes a business revenues and operating expenses over a time period to calculate the net income for the period.

Many of the financial models created by connectcode use these balance sheet templates as a basis. Businesses selling physical goods can use the income statement to track changes in returns cost of goods or operating expenses as a percentage of sales to quickly fix issues in the business. The second worksheet shown on the right is a multi step income statement that calculates gross profit and operating income. It s key to understanding and managing your business s financial health.

A simple or basic income statement may only include income expenses and net profit or loss. Simple income statements are usually sufficient for most small businesses. This financial statement can also be used to track revenue and expenses to plan annual budgets and sales projections along with determining what areas of the business are over budget or under budget. Investors may request more complex income statements.

However investors may request a more complex income statement. It includes both simple templates and slightly more complex and formatted templates. This income statement template was designed for the small business owner and contains two example income statements each on a separate worksheet tab see the screenshots the first is a simple single step income statement with all revenues and expenses lumped together. For most small businesses a simple income statement is sufficient for internal reporting.

Our customizable easy to use template will help get you off to a flying start.