REALTOR® Magazine Online: 10 Items to Add to Your Income Statement

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			*Creating and Monitoring Business Systems* Is Your Company Profitable?
	Financial Management Is Your Company Profitable? Tax Record Keeping Escrow and Trust Record Keeping Personnel Management Compensation Policies Policies for Real Estate Operations More Resources		10 Items to Add to Your Income Statement The income, or profit and loss statement, helps you summarize, and thus analyze, your current business performance. A P&L should include: Gross income. Commissions received, referral fees. Net Income. Gross income minus expenses. Total Expenses: Cost of sales. Commissions paid to salespeople and coop brokers, MLS costs, and franchise fees. Total marketing costs for ads, direct mail, and signs. Total occupancy costs for rent and utilities. Total business operating costs. Office supplies, equipment rentals, and postage. Total training. Educational materials, fees to professional trainers. Total services and fees. Attorney retainer, professional dues, insurance, acccounting fees. Total salaries for administrative and staff positions Total taxes and licenses. Income tax, business license fee, real estate license fees. Miscellaneous. Petty cash, auto expenses. Fees to bank. Loans, bank charges. Next Page: 15 Sure-Fire Ways to Minimize Expenses