Re: FN-FORUM: [OT] Business Forms

date posted 1st March 2003 18:33

HI Derek,

Profit and Loss Accounts are the easiest financial sheet to do.....

1) Always title them, "Profit & Loss Account for Month (or Year) ending
DATE"

2) Format - Hopefully this will keep the formatting, but if not I can send
you an attachment. Figures are made up. Lines starting with * aren't
included, i've added these with comments


SALES £17,265.00
Less Direct Costs £3,304.00
* direct costs are those that are directly related to the products you're
selling. eg: stock
Gross Profit £13,961.00

OVERHEADS
* overheads are other costs. usually these have to be paid even if you don't
sell anything.
Hardware £1,000.00
Software £200.00
Premises/Elec £300.00
Tel/Internet £600.00
Insurance £70.00
Printing/Stationery £500.00
Advertising £200.00
Bank Charges £20.00
General Expenses £360.00
Loan Repayment £1,044.00

TOTAL
£4,294.00
* This is the total for overheads

OPERATING PROFIT £9,667.00
* This is Gross profit minus overheads.

Private Drawings £7,200.00
Tax TAX
PAYABLE on operating profit.
RETAINED IN BUSINESS £2,467.00
* Operating profit minus drawings and tax (for this month)

You can also include an opening and closing bank balance.

You'll probably find alot more information about this and other financial
sheets at www.bized.ac.uk Plus tons of explanations on what things mean.

Regards,

Jon