![]() Note: If you’ve added more rows or columns to your sheet, always double-check the cell references in all the applied functions to accurately calculate totals for each column. Step 5: Finally, calculate the net profit by subtracting the tax from the total operating income before tax using this function =B34-(B34*B35). In this case, I have entered 17% as a placeholder value. You can create multiple columns depending on your requirements. Step 4: Enter taxation-related data below the total operating income column. Step 3: Subtract the total operating expense from the gross profit using this function =B21-B33. This will give you the total operating income before tax. Step 2: Use this function =SUM(B23:B32) to calculate the total operating expense. Step 1: To calculate total operating expenses, create an operating expenses section with the following values: Note: You can copy and paste the COGS and gross profit formulas into the COGS and gross profit columns for all other months. Step 3: Next, use this function =B11-B20 to deduct the COGS from the net revenue that you calculated earlier. Step 2: To calculate COGS, use this function =B13+B14+B15-B16-B17-B18-B19 (Beginning Inventory + Purchases + Freight In) – (Ending Inventory + Purchase Discounts + Purchase Returns + Purchase Allowance). Step 1: Create a gross profit section with the following values to calculate the COGS and then deduct it from the net revenue: You can copy and paste the formulas for gross and net revenue (seen above) into the gross and net revenue columns for all other months. In this screenshot, I have used the function =B10-B8-B9 to subtract the sales returns and allowance from the gross revenue. The net revenue is the sum of all sales minus the sales returns and allowance.In this screenshot, I’ve used the function =B5+B6+B7 to find it (You can also use the SUM function to do this). The gross revenue is the sum of all sales.Step 2: Use the “=” function to find all months’ gross and net revenue (Jan-Dec). Step 1: Create a revenue section with the following values: Once you’ve created a header for your sheet, you can go ahead and create the following sections: Revenue Here’s what the finished header should look like: Step 4: Finally, color the merged cells by selecting all of them and then clicking on the fill color icon. Step 3: Merge cells A3:N3 from row 3 and enter the financial year for the statement (i.e., FY23). Step 2: Merge cells A2:N2 from row 2 and write “Income Statement.” ![]() Step 1: Select cells A1:N1 from row 1, click on the merge cells icon from the top menu to merge them, and then write your company’s name. Open a new Google Sheets template and rename it as “Income Statement” so it’s easier to locate on your device. However, you must ensure that the nature of your income statement remains true to the principles in the following guide. Please note: If the format of this income statement isn’t a perfect fit for your specific requirements, users are free to modify the columns and values to meet their needs. How to Create a Monthly Financial Statement Template in Google Sheets This is great news if your company isn’t fixated on a single platform and users have different devices. Whether it’s iOS, Android, Windows, or Linux, Google Sheets can be used with any operating system. Creating a statement of income in Google Sheets is a straightforward process that requires little effort. Ease of Useįor many small businesses, having a complex system for income statement creation is counterproductive. The flexibility of Google Sheets can’t be understated: It’s simple to create a financial statement spreadsheet from scratch, especially one that reflects your individual needs. All you need is internet access to access your financial data. Since Google Sheets is cloud-based, you can manage data on any device and at any time. There are plenty of advantages to using Google Sheets for income statements (including calculating compound interest for cash balances). Why Use a Google Sheets Income Statement Template? Some main categories of an income statement include: Since an income statement tracks the income and expenses of a company over time, it usually includes sections that relate to these two main accounts. They may also use it to study a company’s spending patterns and success parameters. External users (e.g., investors, competitors) use income statements to assess a company’s potential for expansion and profitability. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |