In this video, we explain how to read and understand income statements. Learn more about how to read and understand income statements here: https://bit.ly/3dgV4mb.

A glance at your income statement may tell you how much you’ve spent in a certain period of time, and how much your business has made. But once you learn how all the different line items interact, and what they mean for your company’s financial performance, you’ll be better able to troubleshoot, fine-tune, and plan your day-to-day operations.

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Check Out These Other Videos You Might Like:
▪ Bookkeeping Basics for Small Business Owners:
   • Bookkeeping Basics for Small Business...  
▪ Cash Flow Statements 101:
   • Small Business Accounting: Cash Flow ...  
▪ How to Read a Balance Sheet (and Make Your Own):
   • How to Read a Balance Sheet (and Make...  
▪ Accounting Basics For Small Business Owners:
   • Accounting Basics For Small Business ...  

Helpful Resources:
▪ Income Statement Template:
https://bit.ly/3ftOLyb
▪ Understanding an Income Statement (Definition and Examples):
https://bit.ly/3m4hr21
▪ Understanding Income Statements vs Balance Sheets:
https://bit.ly/3u4aiSd

Let us know your thoughts about how to read and understand income statements in the comments below, and don’t forget to subscribe to our channel for more content about how to read and understand income statements!

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Timestamps:
0:00 - Intro
0:24 - What Is An Income Statement
1:04 - Example Of An Income Statement
3:45 - What Can We Learn From An Income Statement

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How Bench Can Help:
Try us for free - we’ll do one month of your bookkeeping and prepare a set of financial statements for you to keep: https://bit.ly/2Wt6MoY

With Bench, you get a bookkeeping team to complete your monthly books and help you make decisions to support the best interests of your business. We’ve helped thousands of small business owners take back more time to focus on doing what they love! With Bench on your team, you’ll have properly completed books to help you:

1. Get real-time insights into the financial health of your business
2. Manage your expenses with detailed expense tracking
3. Use bookkeeping records for loan applications and loan forgiveness
4. File your taxes at tax time with our annual financial package, and make the most of your tax deductions

Plus, if you ever have questions, your dedicated team of experts are just a quick message away in the Bench app.

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About Bench:
We're an online bookkeeping and tax prep service powered by real humans. With Bench, you get a dedicated team of experts to track every detail for you. Your bookkeeping team imports bank statements, categorizes transactions, and prepares financial statements every month. Come tax season, we handle the tax prep and filing, and even offer year-round tax advisory support.

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