To make an income statement observe these steps. The income statement displays the revenues expenses and resulting profit or loss of business.
Cost of goods sold section shows the cost of goods sold to produce the sales.
Income format pdf. How to plan an income statement. Income statements can be complicated or simple but a lot of it depends on the size of the operating firm. Income statement format 1.
According to the three sections of the statement there are a variety of aspects that need to be taken into consideration. Sales or revenue section presents sales discounts allowances returns and other related information. Page 1 of 4 madamazah 2020january employment income format for computation of statutory employment income of an employee rm rm section 13 1 a gross income from exercising an employment gross salary wages leave pay net salary epf zakat tax deduction xx bonus commission fees xx epf employers contribution exempt nil gratuity payment received as recognition for past.
Easily confirm employees salaries when they apply for loans credit cards housing and mortgages. Firstly calculate your net sales. Go to the accounting code and print the trial balance customary report this is a summary report that contains the ending balance of every account in the general ledger.
With this income verification letter pdf template you can provide proof of income in the form of secure pdfs your employees can easily download print and share with banks landlords and other agencies. Its purpose is to arrive at the net amount of sales revenue. Below is the income statement format that should be followed during preparation.