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.
Up to six family members will be able to use this app with Family Sharing enabled.