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 episode0:31 Welcome to the Podcast1:35 How to track money-in and money-out2:28 What is the Income Statement?4:08 The Income Statement sections4:26 Revenue Section6:51 Cost of Sales Section9:10 Gross Profit Calculation10:02 Gen & Admin Expense Section10:20 Marketing Expenses11:06 General Admin Expenses12:38 Net Profit Calculation14:15 Types of data found in Income Statement17:37 Resource: Business and Accounting for Authors Book18:16 Author Business Coaching19:15 What’s on the Next EpisodeFind out more about how I can help you with your author business with Author Business Coaching: https://indieauthorbizguide.com/abc/Support the showAdditional show notes and transcripts are on my website: IndieAuthorBizGuide.com/podcastLearn more about Micro Coaching To get more in-depth assistance with your author business, my Author Business Coaching may be for you.Get your free Indie Business ChecklistCheck out my fantasy booksLearn more about, and purchase the book: Business and Accounting for Authors Support the show, buy me a coffee!Connect with me!LinkedIn: tora-moon-author-bizguide Facebook: indieauthorbizguide Instagram: @toramoonindiebiz Music, Inspiring Sunny Day, used on the show is licensed from Nazar Rybak via MelodyLoops.com