How to determine the income of IP

The person opening the IP is interested in what will be his profit. First of all, this is important not for the tax authorities, but for the businessman himself. Since maintaining books on accounting has become optional for entrepreneurs, the question arises as to how to correctly calculate profits.

You will need

• - calculator;

• - a book of accounting for income and expenses;

• - accounting program.

Instruction manual

1

In this case, you can either keep a record of the profits and expenses incurred on paper, or learn how to use accounting programs, for example, 1s.

2

Determining the income of an individual entrepreneur is simple - you need to subtract all expenses incurred from the amount of profit received. This will be net income. True, this is not enough to report to the state. In addition, you may encounter some difficulties.

3

In the case of accounting for cash flow on paper, you can correctly determine your income, but only if you conduct 1-2 operations per week. If there are several of them during the day, then counting in a column becomes very difficult, so it is better to resort to using a computer program.

4

It works quite simply. First, create a new infobase using the installation wizard. Then start making numbers - profit and expense. And the program will automatically perform the following actions: - keep records in accordance with established standards; - provide data on financial statements.

5

In addition, individual entrepreneurs need to keep special books in the event that they use a simplified taxation system. You must have a certified form, which must be completed in strict accordance with the rules, otherwise problems may arise with the tax authorities.

6

Consistently, in a clear chronological order, write down the data on the income from the activity and the costs of its maintenance in the appropriate columns.

7

After the reporting period, you need to display the total values, which are then indicated in the tax return. Keeping records can be maintained both in paper and in electronic form. The main thing is to save the document correctly in order to avoid its loss and accidental deletion.

Useful advice

Keep in mind that in order to correctly determine the income of an individual entrepreneur, it is necessary to correctly record all cash flows. If you do not have enough skills, then this business can be entrusted to a private accountant.

• Book of income and expenses
• how to calculate income un