Daily Income and Expenses Spreadsheet

Three basic financial sheets are very important for any business. These sheets present everything necessary to know about the financial position of a company. You can upload daily Income & expenditure template for managing small business inventory.

Spreadsheet excel base template for easy calculation and help during creating more financial template. Check out this page (Daily Expense Budget spreadsheet) before downloading this one.

  1. Income Statement
  2. Balance Sheet
  3. Cash Flow Statement

Each financial sheet has its importance in analyzing the financial health of the business. The income statement includes the revenues, expenses, and profit loss of a company. While the balance sheet involves the calculation of company total assets, liabilities and equity.

Income and Expense Spreadsheet for Small Business

However, each cash inflow and cash outflow of the business is discussed in the cash flow statement sheet.

Income Statement

The income statement of a company also known as the income and expenses spreadsheet of the business. Most of the businesses that don’t have any expensive enterprise resource planning system in action prefer to use MS Excel-based spreadsheets for the calculation of company income and expenses.

Income and Expense Spreadsheet

There are a lot of uses of spreadsheets in a business to analyze and improve the financial performance of a company.

Related Article: Double Entry Bookkeeping 

However, the spreadsheet focus on the actual income and expenses of a business for a specific time frame.

Importance of Income and Expenses Spreadsheet:

This spreadsheet has multiple features to utilize in the financial analysis of a company. However, it mainly focuses on the 4 important areas of a company finance department:

  1. Revenues
  2. Expenses
  3. Profit or Gains
  4. Losses

The spreadsheet doesn’t include the upcoming receivables and payables into consideration. However, it just involves the revenues and expenses that are realized in a specific time frame. The spreadsheet also has a lot to do with the business budget. Therefore, income and expenses tracker sheets are used to control the budget.

The following mathematical equation is used for calculating the net income using the available data of revenues, expenses, gains, and losses.

Net Income = (Total Revenues + Gains) – (Expenses + Losses)

Types of Income and Expenses Spreadsheet:

Two types of spreadsheets are used in companies.

  • Single-Step Income and Expense Spreadsheet
  • Multi-Step Income and Expense Spreadsheet

The companies with a diversified range of products and large-scale businesses create multi-step spreadsheets. While small businesses make a simple income and expense spreadsheet that only provides the details of revenues, expenses, gains, and losses of a company.

  1. Travel Expense Spreadsheet
  2. Fleet Maintained Spreadsheet
  3. Restaurant Expense Spreadsheet

However, the multi-step spreadsheet focus on in-depth details. The calculation of this sheet separates the operating and non-operating incomes and expenses of a business.

There are multiple KPIs of multiple-step spreadsheets such as sales, cost of goods sold, gross profit, operating expenses, operating income, non-operating income, non-operating expenses, and net income.

In short, it calculates the gross profit and then adjusts operating and non-operating income and expense functions to calculate the net income of a company.

Important Components

The important components of both types of income and expense spreadsheets have been already mentioned above. However, let’s summarize the information to make sure nothing gets missed in the creation of the income and expense spreadsheet.

  1. Sales
  2. Cost of Goods Sold
  3. Operating Income
  4. Operating Expenses
  5. Non-Operating Income and Expenses
  6. Net Income

The use of an excel spreadsheet for the creation of income and expense statement is preferred by the businesses.

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