Income Analysis Spreadsheet

This spreadsheet allows you to keep track of your project revenue, project net income, the amount of money you should save, the amount of money you should pay yourself, and the amount of money you should save for taxes every month, quarter, and year… all automatically (just enter the price and expense of each project). It also has a page to calculate what you should be charging as well as a page to keep track of forecasted and actual revenue, projects, and income.

This is an .xlsx file and can be used in both Excel and Google Sheets. It is customizable (color and by editing of percentages for automatic numbers — example: I have the tax percentage to pull 12.3% and personal profit/paycheck to pull 40% of the month’s net income, but you can change these percentages to better reflect your business if needed).

I use this spreadsheet to keep track of what my paycheck will look like every month and keep a rough idea of what I may owe in taxes (although I use quickbooks to track in more detail with deductibles added). This spreadsheet allows me to save more than what I will likely owe for taxes because the only expenses I input are outsourced expenses per project and not internal expenses such as the cost of Adobe or Flodesk, etc. It also allows me to get a better idea of what I should be saving per month, per quarter, and per year.

To understand better, and to watch a walk-through video of me explaining the spreadsheet, click here and watch my story highlight called “spreadsheet”.