The cash book template is used to track cash transactions (income and expenses) to control your profits or loss. Cash Book is just like a ledger account because it includes your cash and bank transactions.
Overall, there are three kinds of cash book: Single Column, Double Column, and Triple Column cash book. For Single column cash book, there is only one amount column (Cash). For double or two column cash book, there are two amount columns – Cash and Bank Column. For three column cash book, there are three amount columns: cash, bank, and discount.
Profit and loss statements are useful for understanding the financial performance of your business. When you know that your brand is raking in more profits, you’re confident to approach the next business year with even bigger goals.
Also, profit and loss statements help you compare your business profits over time, by showing your changes in revenue and spending. The profit and loss statement can tell you if your expenses are growing faster than your income, causing you to make less profits than you made in the past year. With this insight, you can make moves to cut down your spending while keeping your revenue high.
Creating a profit and loss statement is much easier with Vencru’s free profit and loss statement template, available for download. Here’s a simple set of steps to fill out your template:
Need more resources for your accounting? Vencru has all the templates you need to keep your records in check, and they’re free to use.
Even better, Vencru’s reliable accounting platform helps you save time by generating these reports automatically for you. Vencru keeps all records up to date and gives you more insight into the numbers, so you never have to worry about time-wasting calculations and you’re equipped to make the best decisions for your clients and for your business.