How to Calculate Business Income and Expense in Excel Worksheet

Introduction to Business Income and Expense

A standardized template that keeps track of and logs a company’s income and expenses is a spreadsheet for business income and expenses. You can get some extra benefits from the income and expense statement. The benefits of the business income and expense are:

• Taking better financial decisions.
• Saving time.
• Saving money.
• Identifying erratic or fraudulent expenditures.
• Income and Expense tracking may be seen at a glance.

How to Calculate Business Income and Expense in Excel Worksheet: 5 Quick Steps

We have an Excel large worksheet that contains the information about the Income and Expenses of the Armani Group.

Step 1 – Use a Summation Formula to Calculate the Business Income

• Select cell F6 and insert the following:

D6 is the income from the category A product and E6 is the income from the category B of the product.

• Press Enter.

• AutoFill the formula to the rest of the cells in column F.

Read More: How to Keep Track of Small Business Expenses in Excel

Step 2 – Apply a Summation Formula to Calculate the Business Expense

• Select cell I6 and insert the following:

G6 is the expenses from the category A product, and H6 is the expenses from the category B product.

• Press Enter.

• AutoFill the function to the rest of the cells in column I.

Step 3 – Use a Subtraction Formula to Calculate the Net Balance

• Insert the following formula in cell I6:

F6 is the total income, and I6 is the total expenses.

• Press Enter.

• AutoFill the summation function to the rest of the cells in column J.

Step 4 – Apply the SUM Function to Calculate the Business Income and Expense

• Select cell I6 to apply the SUM function:

• Press Enter.

Step 5 – Create a Chart to Analyze the Business Income and Expense

• Select the data range. From our dataset, we will select F6:F15 and I6:I15.
• From Insert, go to Charts and select 2-D Column.

• Here’s the sample chart.

Download the Practice Workbook

Related Articles

• Daily Income and Expense Sheet in Excel
• How to Create Daily Expense Sheet Format in Excel

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