Sheetgo’s Income statement template consists of separate but connected spreadsheets. Data flows between them via Sheetgo connections, enabling you to:
How does the Income Statement template work?
When you install the Sheetgo Income Statement template, three Google Sheets files with pre-built Sheetgo connections are saved to your Google Drive:
One Expenses Inputs spreadsheet. Share this file with the person(s) responsible for payments. These expenses might include taxes, purchases, salaries, and other outgoings.
One Income Inputs spreadsheet. Share this file with the person(s) responsible for processing invoices. Every time the company receives money, they log it here in this spreadsheet.
One Automated Income Statement master sheet, for the CFO, accountant, or administrator. Here they get an automated income statement, an expenses report, and an income report.
How to use the Income statement template?
Step 1: install and explore
If you haven’t already done so, install the Income statement template.
Allow a few moments as Sheetgo creates the connections and saves a copy of the template files to your Google Drive.
Sheetgo will open the Overview of the template once it is installed. Click View files to see the list of connected documents.
Step 2: enter your data
Open the Income Inputs file.
Read the Instructions tab and input the year you want to analyze.
Go to the Income tab, delete the sample data and replace it with your actual data.
The Accrual Mapping and Summary per Month tabs provide a yearly analysis of your income.
Click Ξ located at the top right-hand corner of the screen to reveal the list of documents.
Double-click on the Expenses Inputs file and hide the sidebar.
Read the Instructions tab. Click on the Expenses tab and enter your details after deleting the sample data.
Open the Summary per Month tabs to see a recap of monthly expenses as you or your colleague input expenses details.
Step 3: update your connections
Go to the Overview and click the run button to update your workflow.
Once the workflow update is complete, go ahead and open the Automated Income Statement and look in the Income statement monthly, Income and Expenses tabs to see data imported from other spreadsheets, ready for further analysis.
Step 4: automate transfers
Automate your workflow now to always have the most recent data in your master sheet. Sheetgo will run automatic transfer even when your machine is off. Learn more here.
Step 5: share files
To share any file that is connected to your workflow, read this article to learn how to seamlessly share files from your Google Drive.
You can also share this workflow to collaborate with another Sheetgo user. Learn how to share your workflow and collaborate with your colleagues in Sheetgo.
