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Download file shown in video [free]:
https://thefincontroller.com/p/trialbalancetoincomestatement
Chapters:
00:00 Intro
03:45 Step 1 – Identify the Income Statement Accounts
04:55 Step 2 – Label the Accounts
06:03 Step 3 – Use Sumif formula
07:28 Step 4 – Format & foot the Income Statement
In this video I take a Trial Balance and use it to create an Income Statement, along with an explanation of how the accounting data flows from transactions to financial statements.
Video mentioned in the video about setup of the Chart of Accounts:
https://youtu.be/6khwyVf564c
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