Free Income Statement Template
As a business owner, you know how important it is to keep your numbers in check. Knowing how much revenue is coming in, how much money is going out and how much profit your are making is essential to making smart business decisions.That’s why you need an accounting system that helps you stay organized. With the free Income Statement template from FreshBooks, you have everything you need to track your income and more.
Simply download the template in your chosen format, customize and save. You’ll have a complete sheet to save for your records and a simple way to stay on top of your numbers.
Get a Free Invoice Statement Template
If you want your business to thrive, you’ll need a straightforward way to track ytehour numbers. Good news is, the free invoice statement template from FreshBooks is here to help you get a grasp on your bookkeeping.
The blank income statement has customizable fields for you to plug in your revenue and expenses. From there, you can calculate your profit or loss for the given period. Some business owners even create monthly income, quarterly or yearly statements. No matter how often you want to calculate your profit or loss, the FreshBooks income statement example will be a helpful resource for you.
Available for download in .DOC, .PDF, .WORD, Google Docs and Google Sheets.
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Free Income Statement Example
What is an Invoice Statement?
An invoice statement is an accounting report that is used to list your net income or business expenses, which would be either profit or loss. This statement is also commonly referred to as a “profit and loss report” or “P&L” statement.
You can generate an invoice statement whenever you choose, but they are typically used to report your business’s financial activity during a designated accounting period, such as per month, quarter or year.
The invoice statement template serves as a great guideline to make sure you’re including all of the proper information on your income and expense statement.
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Why Use an Income Statement?
The success of your business depends on you making informed decisions. That’s why having your business financials organized and on-hand is one of the best things you can do to get started on the right track.
An income statement will show you exactly what your net profit is and will help you determine whether you need to decrease your costs or increase your revenue to stay in the black. Sound simple? Use the FreshBooks income and expense template to get started.
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How Do I Fill in an Income Statement?
Want to create your own Income Statement in minutes? Simply download the financial statement template and follow the steps below to get started.
Choose a File Format
Choose one of our invoice statement template formats.
Once you’ve chosen which template to use, download it to your device.
Add Your Branding
Add you business name and logo at the top. Change the fonts to match your branding.
Fill in Revenue
Create revenue subcategories. Fill them in and calculate total revenue.
Fill in Expenses
Customize the expense subcategories and fill them in. Calculate the total costs.
Calculate Net Income
Determine whether you’ve made a profit or a loss. Subtract expenses from revenue.
Check Out Our Other Accounting Sheets
There is more to accounting than determining if you’ve turned a profit. You need to see where each dollar has come from or gone to. That’s why FreshBooks provides a number of other sample accounting sheets.
Frequently Asked Questions
What does a billing statement include?
A billing statement, or statement of account, includes all of the charges made to a specific account during a given timeframe. Having this on record helps you and your clients stay organized.
How often are billing statements sent?
Since billing statements are used to give clients a rundown on all charges made to their account, you want to send them relatively often. Monthly is ideal, but you may also choose to send them quarterly account statements, depending on the nature of your services.
What is the difference between a billing statement and an invoice?
A billing statement doesn’t typically require action, but an invoice does. An invoice lets a client know how much they owe and a billing statement lets them know how much they’ve been charged in a the past.
Are account statements and billing statements the same thing?
Yes. Billing statements are often used when financial services are rendered, but you can the statement either an “account statement” or a “billing statement”.
Does the FreshBooks cloud accounting software generate billing statements automatically?
Yes. Billing statements are generated based off of the invoices that you’ve sent to a particular account during the given period. FreshBooks accounting software does this for you, all within a single easy-to-access online portal.
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