Money-In; Money-Out - Where does it go?

Episode 13:  This is the third episode in our Financial Basics for Authors series. In this episode, I talk about tracking your money coming-in and going out. This is shown on your income statement, also called your profit and loss.

 Download a sample financial statement (both the Income Statement and Balance Sheet) to look at while I walk you through them.  https://indieauthorbizguide.com/resources/

Show Notes:

0:00 This week’s episode
0:31 Welcome to the Podcast
1:35 How to track money-in and money-out
2:28 What is the Income Statement?
4:08 The Income Statement sections
4:26 Revenue Section
6:51 Cost of Sales Section
9:10 Gross Profit Calculation
10:02 Gen & Admin Expense Section
10:20 Marketing Expenses
11:06 General Admin Expenses
12:38 Net Profit Calculation
14:15 Types of data found in Income Statement
17:37 Resource: Business and Accounting for Authors Book
18:16 Author Business Coaching
19:15 What’s on the Next Episode


Find out more about how I can help you with your author business with Author Business Coaching: https://indieauthorbizguide.com/abc/