To set the account for the small business and profit and loss (income) of your statement what all about easy.
P & l sheet-income account
Are the parts of at least two parties, income tax, income and expenditure. Most small businesses line items, income, and what others do not.
Can some of the declarations of expenditure, a bit more complex. Most companies keeps track of direct and indirect costs. Is the cost, such as sales inventory items, sales commissions, shipping, customer and directly send item (product materials) package directly selling costs directly linked to might be. (, Used for the production of labour and goods and items) of the manufacturing costs. Not indirect costs selling products direct traceability is an element. It is the “overhead” rent fee interest and bank charges, advertising & promotion, food Pro license thing & entertainment travel conferences asset depreciation, taxes, and staff salaries direct production insurance (Administration and management, sales rank staff) includes fees, repair & maintenance vehicle costs, training, office expenses, utilities, communication costs (telephone, Internet).
Show you something like if you read income statements also called statement of income and expenditure is usually under installation, post images.
Looking at the picture, note that total income of the line. This could pay for how much that sells items or your service establishments, such as the cost of behavior. No expense accounts of some people, and where the cost price selling shop by category instead of the massive costs of all list must. And it’s a bad idea to foreign direct investment, according to the indirect method is your business gets a better idea.
And for many companies manufacture or sale, 10 to 15 percent for overhead income must be. Service companies with high earnings there is 25%. It is a good way to know whether it is to keep overhead costs to the size of your business. Need to cut it too high, that means. Your Office is anything big? Do you have many administrators. Your interest cost is too high or it is? You can be paid less staff too. Or it harder resources effectively. According to interests, industry standard benefits, high overhead and cost products of 45% to 80% for income that is higher. These goals, see your advisor or accountant.
Account should be simplified but not you please them as simple as possible. When the first company to define most accounting packages can define account automatically. Prior to entering the element in the system passes these accounts at all times. If there are items I’d say don’t use them to get rid of! If you always can add them later they must really. Verify there is no duplication. Forget isn’t easy! Your accounting and easily may require time, save money with less time than your accountant or other advisors, spend your work.
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