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Gross Profit: Determine this number by subtracting the COGS from your total sales.Expenses: List anything on which you spend money to run your business, such as rent, advertising, equipment, insurance, phone, and employee salaries.Cost of Goods Sold (COGS): This is any money spent that is associated with your product, such as packaging and labor.Cash Flow: This is the amount of money that moves in and out of your business.Cash Ending Position: This refers to the money your business has at any specific point in time.Budget: A budget is a spending plan for your business based on your estimated income and expenses.An income statement template helps you to identify areas of risk and patterns in profit and loss, and to make educated decisions around your budget.Ī small business income statement template typically includes the following line items for tracking your business's financial status: If you are a current or prospective small business owner, it’s imperative that you track your income and expenses, as doing so will ensure you have accurate information regarding how your company spends and makes money. Templates include calculations for revenue, expenses, and overall profit and loss, and they are used to document, analyze, and project business finances. Getting started with the Smartsheet APIĪ small business income statement template is a financial statement used to report performance.ENGAGE Smartsheet ENGAGE brings together our global customers, experts, and partners to share their experiences, ideas, and best practices.
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