Template Highlights
- An income-expense statement provides a more accurate assessment of your finances.
- In the "Itemization" worksheet, you can add all the items as instructed in the template.
- The "Profit Determination" worksheet calculates your business income, operating expenses, profit, additions, and taxable profit.
- An Excel template does not replace the standard form for submitting your statement to the tax office. It is merely for your own overview.
- What is an income-expense statement? An income-expense statement determines your profit by comparing expenses and income. It is an alternative to double-entry bookkeeping.