Income Statement Template Services Company

If your company is a sole proprietorship this form will guide you to a professional looking income statement.

Income statement template services company. Simply drop in your amounts on the lines provided. 4 2 ifrs supplement 3if a company prepares a statement of comprehensive income then disclosure is required for 1 other comprehensive income classified by nature 2 comprehensive income of associates and joint ventures and 3 total comprehensive income the statement of comprehensive. The income statement is generally a record of income received and expenses incurred over that period. In the income statement template provided with these notes there are categories for sales revenue service revenue interest revenue and other revenue.

You will likely want to customize the revenue section to highlight your company s main sources of revenue. The second step includes providing the sales for the month. The second worksheet shown on the right is a multi step income statement that calculates gross profit and operating income. Then subtract all operating expenses.

The most common expenses are preprinted to save you time. Sample income statement for abc cleaners. Since service based companies do not sell a product the income statement will not contain cost of goods sold. The first step of the sample excel sheet income statement includes defining the period of the income statement.

The income statement for a services company. Therefore the income statement will be a basic breakdown of income and expenses. Companies can use the overall results to find the net profit or loss incurred for the period ended at the end. 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.

Income statement templates are print ready tools that companies can use to record present and analyze the operation of the businesses for a given period usually one financial year.