Business expenses include things like supplies, administrative costs, salaries, employer taxes and any other costs of doing business.
INCOME STATEMENT OPERATING EXPENSES FORMULA IN EXCEL UPDATE
List each type of expense that the company paid during the period in this section as you did in the income section. If you need to change the lookup value or the lookup range, you must manually update the VLOOKUP formula. Leave two blank rows after the income section and then enter "Expenses" in the next cell. For example, if your income totals are in cells C1 through C6, the formula would read "=sum(C1:C6)." Step 2.
Create a subtotal at the bottom and label it "Total Income." Calculate the subtotal automatically by entering "=sum(xx:xx)" where the "xx:xx" is the cell range of the totals. Your reporting requirements may need you to have individual rows under Operating Expenses for depreciation and taxes but you may decide you want to see other. Enter "Income" in the cell at the top of the list. Enter each income source in a new cell of the Excel spreadsheet and then list the total amount for the period in the adjacent cell. Select the first entry in your 'Expenses' column, press and hold the 'Shift' key, select the last expense item in the same column, then press the 'Enter' key to calculate your total expenses. The company's income sources include gross revenue, interest revenues and other income. Compile a list of every income source the company recognized over the reporting period.
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