Income Statement App Support

What is Income Statement? Description of Income Statement 2237 chars

If you are a business owner, financial planner, accountant, treasurer or a financial controller for a small or mid-tier enterprise, and are looking for a cost effective, self-contained application for financial book keeping of income created and future profit and loss projections, Income Statement app is a good choice for you. The app has been elegantly designed, is simple to use and suitable for the needs of service and retail businesses.

The app comes with in-built, easy to use and customizable income statement sheets, account balance sheets, financial goals and growth sheets and 3 year profit and loss projection sheets:

1. Income Statement - Provides a measure of your company's economic performance. Also called a "Profit and Loss Statement". The income statement comes in two separate formats, each on a separate tab - single step with all revenues and expenses lumped together; and multi step that calculates Gross Profit and Operating Income.

2. Account Balance - Maintain a ledger of transaction records from your company's bank account detailing the transactions carried by your company with your customers and suppliers.

3. Goals - Enables you to create financial goals and understand what are the average financial figures you need to achieve on a monthly and weekly basis in order to achieve them. Further, the sheet helps you to mention a set of steps you should take to achieve a particular goal.

4. Net Income Growth - Enables you to estimate the financial impact of improving savings per year on the net income at the end of 5 years, 10 years and 20 years.

5. Profit and Loss Projection - Helps you create a 3-year profit and loss projection for a business providing services or selling goods or both.

The app lets you save and re-use the income statements and other sheets, so you can see and keep a track of the financial progress of your business over time. If you would like to share the financial statements with your business partners, investors and other stakeholders, simply tap e-mail, to send the information instantly anytime and anywhere. Alternatively, you can locally save, email and print the statements. Financial book keeping and planning for your business has never been so easier.

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This app has been updated by Apple to display the Apple Watch app icon..