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- #SMALL SERVICE BUSINESS INCOME AND EXPENSE TEMPLATE HOW TO#
- #SMALL SERVICE BUSINESS INCOME AND EXPENSE TEMPLATE SERIES#
If you have a regular source of earned income, input the total amount of money that you earn from that source in the sheet. Start off by determining the amount of money that you earn from various sources. Determine the Amount of Money that You Get From Various Resources
#SMALL SERVICE BUSINESS INCOME AND EXPENSE TEMPLATE HOW TO#
How To Prepare A Personal Income Statementġ. Discretionary expenses are classified as ‘wants’, not ‘needs’.įor instance, if you get the latest smartphone model while you have another phone, such an expense can be classified as a discretionary expense.Įxamples of discretionary expenses include: These are non-essential expenses that you might incur over a certain period. Here are other examples of variable expenses: Similarly, if you are hosting your friends at your home, you might spend more money on food and drinks.Ĭlearly, the cost of variable expenses can increase or decrease drastically after a week or a month. Variable expenses are the expenses that vary, depending on the usage of a certain product/service.įor example, if you increase the frequency of your car trips, you might spend more money on a variable expense like fuel. However, the duration of time between bills remains the same. The amount of money that you pay may change slightly from time to time, especially when it comes to utility bills.
#SMALL SERVICE BUSINESS INCOME AND EXPENSE TEMPLATE SERIES#
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