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If you are running a small business or you are self-employed as a sole trader, it is vital to stay on top of your business expenses, as these have a direct impact on the amount of tax you pay and the profitability of your enterprise. However, tracking business expenses can be a difficult and time-consuming process, particularly if you are new to it and don’t yet know the right tools to make it simpler.

Here we break the subject down to make it easier for you to recognize how to track business expenses. We explain the key terms and the steps you need to take, as well as advising you on a highly effective expense tracker you can use, so you can simplify your financial processes and optimize the success of your business.

Why tracking business expenses matters

Your business expenses are the items you have to spend money on in order to keep your organization running. It is essential to keep track of these expenses, as it shows you how much money you are spending out in relation to the amount of revenue you are bringing in. If you are spending a lot of money on expenses, you will need to generate more profits in order for your business to remain viable.

This is why it is important to track your business expenses on a regular basis, to check that you are generating enough profit to stay in business and to keep your finances healthy. Tracking business expenses can reveal the areas in which you are spending the most money, enabling you to find ways of making cost savings and increasing your profits.

Some of your business expenses are also likely to be tax deductible. By working out which of your expenses this applies to, you can reduce your running costs by paying the correct amount of tax. This also makes your business more profitable.

How to track business expenses

Tracking business expenses with expense tracker

Tracking business expenses basically involves keeping a record of everything you spend in relation to your business. This is why you should set up a business bank account, even if you are a sole trader, so your business finances do not get confused with your personal ones.

There are a number of different methods businesses use to track expenses. Some businesses still keep paper records. While this may seem old-fashioned in the digital age, there is some merit to the practice, because it is important to keep copies of all your receipts as proof of what you have spent.

However, these days most companies use spreadsheets or, ideally, specialist software designed for small businesses to track expenses. This takes up less physical room, and makes it easier to calculate your expenses and organize them into the relevant business expense categories. You do still need copies of your receipts, however, not only for your own records but also because you may have to provide some of them along with your tax return, so it is essential to find a way of storing these securely so they are in order and easily accessible.

Every time you spend any money on anything in relation to your business, this needs to be entered into your spreadsheet or software, or recorded in your paper log, so you can ensure your records stay up to date and correspond with the correct accounting period. This builds an accurate picture of your business expenses, which can then be compared to your profits over the same period (see also our article on profit and loss templates/apps).

What is billable expense income?

This is one of the terms which frequently comes up in tracking business expenses. Many small business owners do not initially know what is classed as a billable expense and what is not, but deciding this is actually a lot less complicated than it sounds.

A billable expense is an expense that you incur on behalf of a customer when you are doing work for them. They are separate from the costs you incur in manufacturing your product. For example, a billable expense could be your travel costs to and from a meeting with a client, or the administrative charges incurred in securing the necessary permits to provide your service or product.

Billable expenses do not usually amount to large sums of money, but they are classed as reimbursable expenses, which means you can bill the client for them. However, this must be agreed in advance with your client – it is up to them which reimbursable expenses they will allow. All billable expenses they have agreed to should be stated clearly on your contract or purchase order. You will also need to provide copies of receipts along with the bill for your expenses.

Billable expenses are listed as expenses on your books but are listed as income when invoiced.

What is unapplied cash bill payment expense?

This is another term which often appears in business expense tracking and often needs some explaining to small business owners. An unapplied cash payment is a payment which has been made but not yet accounted for. Your unapplied cash bill payment expenses are expenses which have gone out but have not yet been applied to a bill. For example, it could be a bill you have paid early before a supplier has actually sent their invoice through, or a credit card payment which has been made before the statement has been sent.

It is essential to keep track of your unapplied cash bill payment expenses, so you can be sure you are only paying out money you actually owe, and also to keep your accounting records accurate.

Tracking business expenses with Billdu

Billdu Expense tracker and invoice maker app

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Billdu offers a simple, user-friendly expense tracker to make it easier for you to track your business expenses and take control of your finances. This cloud-based application is accessible from a PC, as well as mobile apps for both iOS and Android, making it easy to enter your expenses as soon as they are incurred, wherever you are.

Billdu expense tracker also includes a receipt scanner, so you can instantly keep records of everything you pay for, all in order and accounted for. This makes it much easier for business owners and self-employed traders to track their expenses and complete their tax returns.

Billdu’s business expense tracking tool has been specially designed for small businesses and is far more straightforward and efficient than using a spreadsheet. Your information is securely stored, giving you extra peace of mind. It is also more cost-effective than many of the competing expense trackers available.

List of business expenses

All business expenses and self employment expenses fall into particular categories. It is essential to record all your expenses under the correct business expense categories, as this makes it easier for you to see which areas you are spending the most money on, and where you could make savings. It also simplifies completing your tax return, as most of the expenses you incur in running your business are likely to be tax deductible, but these need to be recorded properly.

This business expenses list shows you the general business expense categories which apply to small businesses and self-employed sole traders.

1. Business travel expenses

Travel by air, bus, train or taxi for business purposes.

2. Motor vehicle expenses

Fuel, oil, repairs and servicing, registration, insurance, interest on a motor vehicle loan, lease payments and depreciation. This does not include personal use of the vehicle, or travelling between your home and your business premises.

3. Salary, wages and other benefits

Salaries and wages you pay your employees, and pension or super contributions you make for them. These deductions are calculated differently depending on the type of business you run, so it is important to check with your accountant.

4. Repairs, maintenance and replacements

Repairs to and essential maintenance of your business property or equipment, and replacement of essential items. This does not include substantial improvements such as extensive building work or unnecessary upgrades.

5. Home office expenses

If you are self employed and work from home, you can claim expenses on some of your home office running costs, including your mortgage interest or rent, taxes and insurance, and running expenses such as energy and phone bills, cleaning, and repairs to furniture and equipment.

6. Capital assets and expenses

Capital assets tend to be large items which last longer than a year before they need replacing, such as machinery, office furniture and motor vehicles. You may also be able to include website development in this category.

7. General operating expenses

These are expenses which are necessary in running your business, such as rent, energy and phone bills, and office stationery, all of which are generally tax deductible.

Want more help with tracking business expenses?

If you would like to know more about how to track business expenses or want to find out for yourself how much Billdu invoice generator and expense tracker can help with the process, please click below to register for the free trial.

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How healthy is your business? What does a healthy business even look like? These are questions which all small business owners need to ask themselves in order to remain competitive.

Profitability ratios are some of the most important metrics you can use to assess the health of your business in comparison to your competitors. Here we take an in-depth look at the various different types of profit ratio, what they mean, and how to calculate ratios in order to determine how profitable your business really is.

What are ratios of profitability?

A profitability ratio is a way of measuring how able your business is to generate earnings in relation to your expenses, assets and shareholder equity. If your profitability ratios are better than those of your competitors, or higher than they have been in previous comparable financial periods, this means that your business is healthy and likely to continue doing well.

There are various different types of profit ratio, and these metrics are used to determine how well a business is executing its operations and utilizing its assets in order to generate profits. Profitability ratios fall into two main categories:

  • Margin ratios – these show the ability of your business to translate the money you make from sales into profits.
  • Returns ratios – these demonstrate the efficiency of your business at generating returns for your stakeholders.

Both of these types of profit ratios are used to give insights into the overall financial health of your business.

Examples of margin ratios

1. Gross profit ratio

This compares your sales revenue to your overall gross profit. It demonstrates how much money your business is making once its operating costs have been taken into account.

If your gross profit ratio is high, this is a sign of a healthy business, as it shows that you can easily cover the costs of your operations while still generating a profit for the business. If your gross profit margin is low, this shows that there are areas where your business could be more efficient – perhaps your suppliers are charging you too much, or your marketing is not effective enough.

You can calculate this ratio by using the formula:

Gross profit ratio = gross profit / sales x 100

2. EBITDA margin ratio

This is the analysis of your business earnings before interest, tax, depreciation, and amortization are taken into account. It is often used to compare the profitability of your business to those of your competitors, as it excludes discretionary expenses.

While this profitability ratio does not give the most accurate picture of the performance of your business, it is a metric which is widely used in company valuations, so it is still an important figure to work out.

There are two ways of calculating your EBITDA margin ratio:

EBIDTA margin ratio = revenue – operating expenses

Or

EBIDTA margin ratio = net income + interest + taxes + depreciation + amortization

Calculating profitability ratios EBITDA

3. Operating profit margin ratio

This metric shows the earnings of your business as a percentage of your sales, before income tax and interest expenses have been deducted. A high operating profit margin shows that your business is being managed effectively, as the variable costs are being kept low. This enables you to offer lower prices than your competitors, increasing your market share.

The profitability ratio formula for working out your operating profit margin ratio is:

Operating profit margin = operating profit / total revenue

4. Cash flow margin ratio

This shows how efficient your business is at converting sales into cash. This is extremely important, because the more cash flow you have, the better equipped your business is to avoid unnecessary expenses such as late payment fees, as you will always have enough money available to pay your bills on time.

A high cash flow margin ratio also means you have more money at your disposal to purchase assets and facilitate the growth of your business. You can calculate your cash flow ratio using the formula:

Cash flow margin = cash flows from operating activities / net sales

5. Net profit ratio

In many ways, your net profit ratio is the most important profitability ratio of them all. Your net profitability ratio takes everything into account. All expenses, including taxes and interest payments, are included.

This means that the metric gives a clear picture of how profitable your business is in comparison to everything you have to spend out as part of your operations. You can work out your net profit ratio by using this formula:

Net profit ratio = net profit (after tax) / revenue

Examples of returns ratios

1. Return on assets

This shows your net earnings as a percentage in relation to the total assets of your business. It demonstrates how much profit your business generates, after tax, for every dollar’s worth of assets belonging to the business.

This has an impact on your operating costs, because if your profits are low in comparison to your assets, it shows that the cost of your assets is high. This means that it will cost you more money to create the infrastructure you need to become more profitable.

The formula for working out your return on assets is:

Return on assets = net profit / total assets

2. Return on equity

Billdu Profit ratios ROE Return on Equity

This shows how much net income is being generated in relation to the equity that investors have put into your business. If your return on equity ratio is high, this means your business is less likely to be reliant on debt financing, so investors are more likely to want to buy into your business. This has a direct impact on the price of shares in your business, as a high return on equity ratio correlates with a higher share price.

You can calculate this ratio by using the formula:

Return on equity = profit after tax / net worth

If you need to know how to work out the net worth of your business, the formula to use is:

Net worth = equity share capital + reserve + surplus

How you can use profit ratios to assess your business health

Individually, profitability ratios measure different aspects of the financial health of your business. Put together, they give you a clear picture of areas where your business is doing well financially and generating healthy profits, and areas where there might be room for improvement. This enables you as a business owner to take better decisions about the management of your business, and use the assets you have to maximize profits.

Many businesses consolidate all the results of their various profitability ratios into a Discounted Cash Flow model. This is a broader financial statement that looks at historical and current results in order to make predictions for the financial future of the business, and also includes a Net Present Value which shows you how much your business is worth at the current reporting time.

In addition, there are a number of other ratios you can use to inform the overall picture of the financial health of your business. These include:

1. Debt-equity ratio

This shows you the amounts of debt and equity your business relies on to finance its assets. If this ratio is too low, it illustrates that you are risking too much of your own business capital instead of taking advantage of opportunities to borrow. If it is too high, it demonstrates that your business relies too much on loans. Ideally, your debt-equity ratio should be around 2:1.

You can calculate this ratio using the formula:

Debt-equity ratio = total liabilities / shareholders’ equity

Profit ratios for business health check

2. Current ratio

This is a useful metric, as it shows you how capable your business is of paying back its immediate liabilities. Again, you should aim for a ratio of around 2:1, as this shows that you are in a good short-term position while still making the best use of your working capital.

The formula for calculating your current ratio is:

Current ratio = current assets / current liabilities

3. Stock turnover ratio

This metric only applies to companies which deal in goods rather than services. It demonstrates how effective your business is at turning your stock into profits. If the ratio is too high, it shows that your stock is not being sold quickly enough. If it is too low, this means you are probably struggling to meet customer demands.

You can calculate your stock turnover ratio using the formula:

Stock turnover ratio = cost per unit sold / average stock level

Assessed together, all of the profitability ratios we have discussed here give you an extremely accurate picture of the health of your business’ finances.

Make life easier with Billdu

If you would like to make it easier to stay on top of your business’ financial health, Billdu can help you. You can find out exactly what this clever software can do for your business by trying it out for yourself! Try our free invoice generator or click the button below to register for your FREE trial today.

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When you are running a small business, it is imperative that you can easily keep track of your finances to ensure that your business remains profitable and successful. This means that you need specialist software to make life easier and take some of the time and effort out of keeping your books balanced.

But which tool is right for your business? With so many options on the market, it can be difficult to make the right choice. Here we compare QuickBooks with our own Billdu invoice maker and expense tracker to help you make an informed purchase decision.

What is Billdu?

Billdu is a simple, user-friendly package specifically designed for small businesses, to help you prepare professional invoices and track expenses. Billdu is a cloud-based solution, and all information is stored on a secured server similar to those used by banks. This gives you absolute peace of mind that your financial data can only be accessed by those you have given permission to.

The whole point of Billdu is to simplify financial processes for small businesses, saving you up to 60 percent of the time it usually takes to stay on top of your finances. There are three different pricing plans to choose from, and all of these give you access to the online version and both mobile systems, for iOS and Android. This makes it easy to access your financial information on-the-go, and send invoices from wherever you are, enabling you to increase your business success by spending more time out of the office and concentrating on the areas of your business you excel at. The pricing plans are:

  • Starter – from $1.99 per month (30 invoices per year, one user)
  • Standard – from $7.99 per month (300 invoices per year, one user)
  • Premium – from $14.99 per month (unlimited invoices, 10 users)

Billdu also gives you access to a highly knowledgeable support team, who are always happy to help you out with any problems and answer any questions you may have. This support means that you can address any issues as they arise, giving you constant control over your business finances and setting you up for greater success.

Billdu Professional invoice maker with android and ios apps

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What features does Billdu offer?

Billdu offers a huge range of features, providing you with most of the solutions you need for the day-to-day financial management of your small business. The main features offered by Billdu include:

Invoicing

The invoicing features on Billdu are extremely similar to QuickBooks invoicing. You can easily create and send a professional invoice in seconds from your PC, tablet or smartphone, as well as being able to track when an invoice has been opened and even see who has read it. You can also attach images of your products to your invoices, making it easier for your customers to see at a glance what the invoice refers to.

In addition, you can add a Pay button to your invoices, to make it easier for customers to pay the invoice straight away if they choose to do so, for added convenience, a lot like QuickBooks credit card processing.

If you have recurring invoices, you can set the Billdu system to create and mail them automatically, saving you serious amounts of time.

Estimates

Billdu makes it easy to create and send professional estimates and quotes which are straightforward for the customer, making your business a more attractive option.

Purchasing and deliveries

With Billdu, you can easily keep track of the orders you have received, and offer your clients an easy purchasing process. You can also make deliveries easier by generating delivery notes directly from your invoices, and clients can sign for deliveries directly on a smartphone using their finger.

Inventory management

The Billdu system works in a very similar way to QuickBooks inventory management, making it easy to keep track of your stock, and you can quickly and simply add items to orders and invoices. You can use QR codes/barcodes to organize your inventory and add items to your invoices with Billdu’s built-in QR code/barcode scanner.

Expenses management

This gives you a convenient overview of your expenditures, and includes a receipt scanner (view the list of business expenses).

Exports

Billdu makes it easy for small businesses who export to other countries, as it enables you to generate invoices, estimates and orders in all the most popular formats. You can even send invoices in 16 different languages and their associated currencies, making overseas transactions easier than ever.

Sharing information

Billdu enables you to share information directly with your accountant and different members of your team, including setting permissions so each person is only able to see information appropriate to their role.

Billdu online invoice maker explore features

What is QuickBooks?

QuickBooks is the best-known software for small to medium-sized businesses. It was designed by the US-based software company Intuit, and has been widely available since 2000. It currently has 80 percent of the market share.

While QuickBooks is hugely popular and offers a vast range of features, its software can be confusing as it is available in an extensive range of versions. Some of these are cloud-based, while others are desktop solutions for Mac and PC. Mobile apps are also available. Within these categories there are various different options to choose from.

As the QuickBooks offering is so huge and varied, it can be difficult to select the best option for your business. Here we break it down by explaining a little about each of the main options available.

QuickBooks accounting software for SMB

QuickBooks Online Pricing

This is a cloud-based solution, and is the most popular of the QuickBooks versions for small businesses. There are three different QuickBooks Online pricing plans available:

  • Simple Start – $15 per month, one user
  • Essentials – $25 per month, three users
  • Plus – $35 per month, five users

The Plus version comes with a lot more features than the other two cheaper plans.

QuickBooks Online accounting software

Source: J2Store.org

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QuickBooks Desktop Pro 2019

QuickBooks Desktop is designed for desktop users, so it is not a cloud-based platform. It comes in several different versions:

  1. QuickBooks for Mac – this uses the Apple OS operating system, so it is only suitable for Mac computers. There is only one version available and it cannot be scaled up.
  2. QuickBooks Pro – this is a simple package for Windows, ideally suited to small businesses just starting out. QuickBooks Pro 2019 does not come with many features, but it can easily be scaled up to either of the other Windows versions for an extra cost.
  3. QuickBooks Premier – again for Windows, this is more advanced than QuickBooks Pro, as it can be tailored to suit the specific needs of your industry. It can easily be scaled up to Enterprise if the needs of your business change and grow.
  4. QuickBooks Enterprise – this is a highly flexible accounting and business management solution for small to medium-sized businesses. It is only available for Windows, and is the most advanced and expensive of the desktop versions. There are three levels to QuickBooks Enterprise: silver, gold and platinum. Each of these offers different features and options, but the platinum package, which offers the most features, costs a considerable amount of money.

QuickBooks online vs desktop: which is the better option?

This really depends on the individual needs of your business. However, QuickBooks Online is the more popular solution, as it offers greater flexibility. A cloud-based solution can be used on-the-go from your smartphone or tablet, and the online version also offers a wider range of features at a more reasonable price. You can use the qbonline login to sign to your Intuit account to access all Intuit products including QuickBooks. There is a possibility to login using your user ID and password or sign in with Google.

Some of the features which are free with QuickBooks Online (qbonline) come at an extra cost on the desktop versions, such as automatic downloads of your bank and credit card transactions, and online customer payments.

What features does QuickBooks offer that Billdu doesn’t?

Most of the features offered by QuickBooks Online are also offered by Billdu. However, there are a small number of features which Billdu does not yet offer, which you can find on QuickBooks:

  1. Track miles using your smartphone so you can reduce your tax bill;
  2. Automatically categorize transactions into the relevant tax areas;
  3. Calculate wages for up to ten employees directly from the system, including automatic tax calculations for each worker;
  4. Track income and expenses on each individual project.

However, not all of these features are available with every version of QuickBooks.

Which is the better system, Billdu or QuickBooks?

This depends entirely on what you are looking for and the nature of your business. If you want a solution which does everything, and your business is expanding extremely rapidly, you should probably download QuickBooks, as it offers more features and is more scalable due to the vast number of different versions available.

However, if you are looking for an easy-to-use, cost effective solution which takes care of the vast majority of your financial management, Billdu is the way to go.

If you would like to find out more about Billdu and the many different features it offers, please click the button below to register for your FREE trial. You will be amazed how much easier Billdu can make life for you and your small business.

Create invoices, track expenses and inventory with Billdu

Try Billdu today to see how you like our simple user interface. We have online dashboard and mobile apps for you to use. See how we compare to QuickBooks for yourself! You can register for a free trial below.

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Your income statement is one of the most important financial documents your business needs to provide. But what is it, and how can you make creating this document easier for yourself and your business?

Here we take a look at everything you need to know about your profit loss statement, and offer you the chance to simplify it with a free income statement template. This will save you time and money when it comes to keeping your business’ finances up to date.

What is an income statement?

Your income statement is one of the three main financial documents which are used to detail the success of your business, along with your balance sheet and statement of cash flow. It is often also known as a profit and loss statement, or statement of revenue and expenses.

Income statements are usually prepared at different intervals throughout the financial year, helping you to track the progress of your business for a specific accounting period, such as a month or quarter. They are most commonly prepared monthly, then aggregated to produce results for each quarter and year. The period the income statement refers to is always detailed in the heading so you can easily see which accounting period you are looking at.

Billdu Elementary financial documents include profit and loss statement

Why is your income statement important?

An income statement contains valuable financial information which you can use to analyze the performance of your business over the accounting period it refers to. Depending on the type and size of your business, you might be required to lodge annual profit and loss statements as part of your reporting to the IRS in the United States, HM Revenue & Customs in the UK, or the Australian Securities and Investments Commission (ASIC). This is something you will need to check in order to ensure your business is fulfilling its legal requirements.

No matter whether or not you are required to lodge a profit and loss statement, it is an extremely important document. Once it has been prepared, it can then be built into a complete financial model. This enables you to forecast future performance, which is essential for a number of reasons:

  1. Future performance enables you as a business owner to make better decisions about which direction to take your business in, and whether or not you are in a position to take risks;
  2. It gives your stakeholders a clear picture of the progress of the business;
  3. It can help you secure any finance you need, so your business can grow and increase its market share.

This is why all businesses need to prepare regular income statements, as this is the easiest way to keep track of your profits and losses.

Financial performance of business

What does your income statement include?

Your income statement focuses on two key areas: revenue and expenses. This enables you to work out the net income of your business by using the formula:

Net income = revenue – expenses

Revenue is the money your business has made during the accounting period covered by the income statement. It can be split into three key areas:

  1. Operating revenue – this is money made from the primary activity of your business, such as selling your products or services.
  2. Non-operating revenue – this is money made from secondary activities, such as rent from any properties your business owns, or interest on money you have in the bank.
  3. Gains – money made from other activities such as selling old company assets.

Expenses are amounts of money which your business has paid out during the accounting period covered by the income statement. These can also be split into three areas:

  1. Primary expenses – these are expenses incurred in the primary activity of your business, such as staff wages, utility bills, research and development.
  2. Secondary expenses – these are expenses related to your business but not to its primary activities, such as interest payments on a business loan you have taken out.
  3. Losses – these are expenses which cause your business to lose money, such as legal costs in a court case, or selling an asset at a loss.

Putting all these figures down in a complete profit and loss statement template gives you a comprehensive overall picture of your business finances. For a start, it enables you to work out the net income of your business, so it effectively shows you the health of your finances.

However, it also shows you the finer details which are essential for making sound business decisions. Your profit and loss statement can show you how competitive your business is against others in the same field, and how well you are using your available capital to increase your business activities. This information feeds into your major financial decisions, helping you to set realistic budgets and make wise investments so you can improve the success and profitability of your business.

Profit and loss statement items

What is not included in your income statement?

Your income statement is not a statement of cash flow. This means it does not include receipts or cash payments; in other words, money received or paid out by your business. There is a good reason for this: your income statement needs to refer to a particular accounting period, and your revenue and expenses have to balance. Payments and receipts are often not completed within the same period as each other, so they cannot be accounted for until they can balance.

As an example:

In January, your business spends $10,000 buying 100 stock items at $100 each, which it plans to sell on for $120 each. However, you only sell 20 of these items in January. This means you would only be able to include the expenditure for 20 items in your January accounts, in order to ensure that they balance. Therefore your cash payments for January would be $2,000 and your receipts would be $2,400.

You then sell the remaining 80 items in February, so you would have to show the expenditure for those in your February accounts, as well as the receipts. Your cash payments for February would therefore be $8,000, and your receipts would be $9,600.

It would be impractical to include receipts and cash payments in your income statements, as this disparity happens so regularly for most businesses. Perhaps the business does not sell off their stock within the same accounting period as the purchase. Maybe clients are late paying their invoices. Or it could be one of a wide range of other circumstances that can arise, any of which can mean that the accounts for that period do not balance. Figures should not be included in your profit and loss statement until your revenue and expenses can balance.

Income statement is not cash flow

What does an income statement look like?

No two businesses’ income statements will look exactly the same, but the information they contain tends to be fairly similar. If you look at a profit and loss statement sample from any business, you can see the type of information most income statements contain, and yours will probably not look too different.

However, it is important not to use another company’s income statement as a profit loss template for your own business, as it will not be entirely appropriate for your individual needs.

Different looks and templates for profit and loss statements

App or no app? How long does it take to complete a profit loss statement?

The length of time it takes to complete your income statement will depend entirely on the nature and size of your business. If you run a small business, you will be dealing with smaller amounts of money and a less varied range of activities than a large company would be, so your profit and loss statement will take less time.

However, this is still a significant activity which is usually undertaken by your bookkeeper or accountant if you have one, or the owner of the business if you are a small enterprise. It can take some time and experience to make sure you include everything and the figures balance. As this is a task you will usually have to complete every month, it can end up taking quite a considerable amount of time which could be spent on other areas of running your business.

It is extremely important, though, that you keep up to date with your income statements, as they form an essential part of your financial information, and offer you the insights you need to take the best decisions about the future direction of your business.
Using apps like Billdu to generate inputs for your profit and loss statement is recommended to every small bussiness owner. With these apps, it is a matter of a few clicks before you are ready to enter the final numvers to your profit and loss statement.

Time to prepare income statement

Make life easier with a free income statement template

If you find it difficult to complete your profit and loss statement, or you want to find a way to make the process quicker so you can free up more time to spend on other more enjoyable aspects of your business, help is available!

Billdu.com is an extremely easy and user-friendly way of staying on top of your business finances, via an intuitive mobile app and online dashboard. It offers all the tools you need to complete all your financial paperwork quickly and easily.

This means you can let Billdu do the hard work for you, while you can spend your time using your talents on the areas of your business you do best. Take the effort out of preparing your income statement by downloading this free profit loss template which we have prepared for you, by clicking here!

Download free income statement template

Download the free income statement (profit and loss) template

Prepare the inputs for your P&L statement with Billdu

Looking for a profit and loss app? Try Billdu today to start creating professional invoices and tracking your expenses via our user-friendly online dashboard and mobile apps. You can register for a free trial below.

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