How to make a Pro Forma Income Statement with Excel

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  • Опубликовано: 19 июл 2024
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    Learn how to make a Pro Forma Income Statement from scratch. A Pro Forma Income Statement is basically just an estimated Income Statement. Learn what assumptions are needed in order to estimate future or possible revenues, costs, expenses, profit, net income, etc.
    This tutorial will also help you understand how to read and understand how income statements work. These are extremely valuable skills to have in the business world, no matter the profession. Pro Formas can be used for existing businesses or new entrepreneurial ventures.
    This video even shows how to properly calculate sales tax on a particular product, which is commonly miscalculated.
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Комментарии • 111

  • @CalonHeindel
    @CalonHeindel  3 года назад +4

    I talk a little slow. Speed up to 1.5X speed!

    • @mrmichaelgilmore9176
      @mrmichaelgilmore9176 10 месяцев назад

      Great video Calon! I've been trying to put together a pro forma for bringing on a new Physician for an ASC (Ambulatory Surgery Center).

  • @jackdolley9462
    @jackdolley9462 3 года назад +8

    You explain this better than my teachers

    • @CalonHeindel
      @CalonHeindel  3 года назад

      Glad this is easy to follow along to!

  • @sabrinadossantos4958
    @sabrinadossantos4958 27 дней назад +1

    You saved my life! SO knowledgeable I love how you get to the point and make it simple. New subscriber!

    • @CalonHeindel
      @CalonHeindel  25 дней назад +1

      Appreciate the kind words. Thanks for subscribing!

  • @alchemy7creations16
    @alchemy7creations16 7 месяцев назад +3

    THANK YOU SO MUCH. It took me 2 days to get through this 25 min video but I did it

    • @CalonHeindel
      @CalonHeindel  7 месяцев назад +1

      Haha it’s a lot of information. Nice work! Glad this video was helpful.

    • @alchemy7creations16
      @alchemy7creations16 7 месяцев назад

      Haven’t performed excel in 20 years.. now off to balance sheets

  • @douglasdervartanian6334
    @douglasdervartanian6334 Год назад +2

    I had to submit a Proforma Income Statement for a class and this SAVED ME! thank you so much. I learned a lot about formulas and the statement itself

    • @CalonHeindel
      @CalonHeindel  Год назад

      Glad this video could help! Haha RUclips academy!

  • @missraemarie7410
    @missraemarie7410 2 года назад +5

    Thank you for starting from scratching and breaking it all the way down. Super helpful!

    • @CalonHeindel
      @CalonHeindel  2 года назад +1

      Glad I could help. Thanks for the support!

  • @montecilloivorymaed.168
    @montecilloivorymaed.168 3 года назад +2

    I love you to the nth level. you saved my 2nd year college life !!!!

    • @CalonHeindel
      @CalonHeindel  3 года назад

      Love to hear that! Thanks for the comment!

  • @CoolEmBlue
    @CoolEmBlue 3 месяца назад +1

    literally a lifesaver - I'm working on a project and this video was so helpful. Thank you so much!

    • @CalonHeindel
      @CalonHeindel  3 месяца назад +1

      Love to hear that. Glad this was helpful!

  • @jaredhicks4994
    @jaredhicks4994 3 года назад +2

    This really helps me understand how to read income statements better

    • @CalonHeindel
      @CalonHeindel  3 года назад

      They can be confusing, glad me could help.

  • @kathleenohara3720
    @kathleenohara3720 2 года назад +4

    Thank You so much for providing this video. I had no idea how to create this form and your video was very easy to follow and very thorough. I will be checking out more of your videos! 😊

  • @nikkibunny4024
    @nikkibunny4024 2 года назад +2

    Thank you! I needed this for a college assignment

  • @bdavidb22
    @bdavidb22 5 дней назад +1

    Thank you! I need to make a few adjustments to this because i am not a sock salesman. But this is a great START!!

    • @CalonHeindel
      @CalonHeindel  4 дня назад +1

      Hahaha fair enough! Thanks for the watch!

    • @bdavidb22
      @bdavidb22 День назад

      @@CalonHeindel Can you help with making some adjustments to my current Pro Forma?

  • @qs718
    @qs718 2 года назад +2

    Working through problem sets for class there seems to be so many variations difficult to keep straight. Your approach is very helpful.

    • @CalonHeindel
      @CalonHeindel  2 года назад

      Thank you! Its a lot to take in and understand, but hopefully this helped you out.

  • @francescacash3856
    @francescacash3856 Год назад +1

    This was a very helpful and interesting video. I was able to follow along and create my own pro forma income statement with excel. I look forward to watching and learning from your other videos. Thanks for sharing your knowledge with this gen Xer trying to learn new stuff!

    • @CalonHeindel
      @CalonHeindel  Год назад

      Glad this was helpful! Love to hear it!

  • @tonyahollins4470
    @tonyahollins4470 2 года назад +2

    Excellent, thanks and the speed was perfect for me.

    • @CalonHeindel
      @CalonHeindel  2 года назад

      Glad to hear that! Thanks for watching!

  • @princeokonkwo2874
    @princeokonkwo2874 3 месяца назад +1

    Hey Calon, Thank you so much this video. I definitely have liked and subscribed!

    • @CalonHeindel
      @CalonHeindel  3 месяца назад

      That’s awesome appreciate the support!

  • @shobankeariyo7913
    @shobankeariyo7913 3 года назад +3

    Wow! You are superb and really made simple. Very easy and clear to understand. Thanks so much

    • @CalonHeindel
      @CalonHeindel  3 года назад

      Thanks for the feedback, appreciate it!

  • @quintezgatewood9943
    @quintezgatewood9943 Год назад +2

    I sincerely appreciate the video

    • @CalonHeindel
      @CalonHeindel  Год назад

      Glad this video was helpful. I appreciate it!

  • @johntighe3081
    @johntighe3081 3 года назад +2

    So I glad I found this video, thanks for the help!

  • @kevinheindel3609
    @kevinheindel3609 3 года назад +2

    Explained at a good pace.

  • @maclindem8720
    @maclindem8720 6 месяцев назад +1

    Thank you very much. Really understood everything. very very helpful, for a first time business woman like me.Thanks!!

    • @CalonHeindel
      @CalonHeindel  6 месяцев назад

      Glad you found this helpful!

  • @seyarsayed1473
    @seyarsayed1473 3 года назад +2

    Thank you! Helped so much!

  • @JoshG-he6nr
    @JoshG-he6nr 2 года назад +4

    This made doing my cost structure very easy! Thank you

  • @Ctarr207
    @Ctarr207 3 месяца назад

    Love this! Thank you!!

  • @jordanedwards9773
    @jordanedwards9773 6 месяцев назад +1

    Protip - F4 will let you cycle through the various cell reference locking options so you don't have to click around and manually add the $

  • @nathanheuton7313
    @nathanheuton7313 2 года назад +2

    Thank you. Very helpful.

  • @katelynheindel5618
    @katelynheindel5618 3 года назад +2

    Very well detailed and easy to follow along!

  • @marniecoots8874
    @marniecoots8874 2 года назад +2

    Thank you! That was very helpful

  • @Joako9997
    @Joako9997 3 года назад +2

    Really really good!! I never comment but WOW! thanks for the help.

  • @parkermrpink
    @parkermrpink 2 года назад +2

    Super helpful and well done. Thank you!

  • @northkaskazini721
    @northkaskazini721 Год назад +2

    Great video! Why are there so many video out there that explain tax calculation incorrectly. Why does your method of tax calculation work?

    • @CalonHeindel
      @CalonHeindel  Год назад +1

      Great question! The answer to that can be a little confusing. Simply put the dollars collected already have sales tax calculated into what was paid. So the tax isn’t calculated off the money you received after the fact. Hopefully that makes a little sense

  • @FraggleFarmstead
    @FraggleFarmstead 2 года назад +2

    Very helpful! Thank you!

  • @sideshowbloodymarymix1539
    @sideshowbloodymarymix1539 Год назад +1

    Awesome!! Thank you!

  • @beverlywurth9470
    @beverlywurth9470 Год назад +1

    This was GREAT! Thank you!

  • @gabrieldelacruz7100
    @gabrieldelacruz7100 2 года назад +2

    sweet tutorial. thanks!

    • @CalonHeindel
      @CalonHeindel  2 года назад +1

      Thanks appreciate the feedback!

  • @glennD15
    @glennD15 Год назад +1

    hey calon thank you so much!!

  • @tayaheindel2239
    @tayaheindel2239 3 года назад +2

    Awesome this channel is super helpful

  • @UPBoxedLLC
    @UPBoxedLLC 10 месяцев назад

    Thanks for the video! Do I need to do this calculation for every single product or can I just estimate it based on product categories (when there are many products)

  • @Funguy5347
    @Funguy5347 3 года назад +3

    This is perfect

  • @alfonsorodriguez1763
    @alfonsorodriguez1763 Год назад +2

    Great video - I thoroughly enjoyed it and was engaged. The audio, however, could use improvement. I had the volume all the way up and it was still a little hard to hear. Thanks for sharing.

    • @CalonHeindel
      @CalonHeindel  Год назад

      Thanks for the support! Yeah unfortunately the audio wasn’t great with my videos early on. The audio has definitely been improved since then

  • @justthatvideo
    @justthatvideo 3 года назад +2

    Lots of good information here

  • @ryanwilliams4834
    @ryanwilliams4834 10 месяцев назад +1

    Great video!

    • @CalonHeindel
      @CalonHeindel  10 месяцев назад

      Thanks! Glad you enjoyed it!

  • @marquisdelaz
    @marquisdelaz 2 года назад +2

    Very helpful 👍

  • @FundamentalEconomics
    @FundamentalEconomics 2 года назад +2

    Nice one... Hope you will cover more similar contents

    • @CalonHeindel
      @CalonHeindel  2 года назад

      Appreciate the support! New videos at least once a week

  • @jennyhenderson3323
    @jennyhenderson3323 2 года назад +2

    Thank you! This has been extremely helpful!! I need to create 3 years of Pro Forma statements so I initially did it on 3 separate sheets, would it be better to just drag 1 sheet out for 36 months? Also, if we have an initial loan amount of $250,000 in long-term debt, how do I account for it being paid off over the three years (which would lessen the available cash, right?)

    • @CalonHeindel
      @CalonHeindel  2 года назад

      Yeah you can adjust it to fit 36 months. They are pro-formas so whatever makes the most sense for you.

  • @NancyMartinez-ey5jr
    @NancyMartinez-ey5jr 2 года назад +2

    "I hope you are still here." Me: "yes, I have to!" 😅

    • @CalonHeindel
      @CalonHeindel  2 года назад

      Hahaha not the most exciting topic! Glad you could watch till the end.

    • @tylerx8848
      @tylerx8848 2 года назад +1

      @@CalonHeindel I think this stuff is relaxing and satisfying as long as I'm doing it right.

  • @Aleph_27
    @Aleph_27 Год назад +1

    This video is very help full to understood the financial statement awareness!!! So, can we Provide (submitted) to the other companies to calculate there financial performance as an Accountant????

    • @CalonHeindel
      @CalonHeindel  Год назад +1

      Well this isn’t financial advise. You wouldn’t be able to submit this officially without a license to do so.

    • @Aleph_27
      @Aleph_27 Год назад

      @@CalonHeindel Greeting from Tigistu, from Addis Ababa, Ethiopia.... I asked a question yesterday, but with a license Can I offer to them ''This video is very help full to understood the financial statement awareness!!! So, can we Provide (submitted) to the other companies to calculate there financial performance as an Accountant????""

  • @cinemamit
    @cinemamit Год назад +1

    Thanks for this detailed video. Is there a way to convert it into a 2 year projection after getting the 12 month projection ready?

    • @CalonHeindel
      @CalonHeindel  Год назад

      Yes you can keep copying the formulas over (horizontally) to add more months

  • @dunbizl
    @dunbizl 3 года назад +3

    Amazing video! Extremely helpful. Is there a way I can get a 10 minute call with you and I will pay you for your time of course? I need some directions because I have started a new unique business and it’s too much to put into text. Please let me know if you have a moment. Thank you.

    • @CalonHeindel
      @CalonHeindel  3 года назад +1

      Appreciate the feedback! Send me an email found at this Channel's about page. Just provide a little more detail and I would love to help out the best I can.

  • @jaydenmilne8305
    @jaydenmilne8305 3 года назад +3

    🤩

  • @alisonlemeri2774
    @alisonlemeri2774 3 года назад +2

    Hello, i'm not seeing the other tutorial on making a pro forma balance sheet! Have you removed it? That's a helpful video too.

    • @CalonHeindel
      @CalonHeindel  3 года назад +3

      Hello, Yes I am re creating that video. Looking back I saw one small error. I will hopefully upload that this week. I want to make sure the video is fully accurate.

  • @Scott.lewis.8
    @Scott.lewis.8 5 месяцев назад

    The only issue I'm having is seeing what you type in for math part and locking. Anyway you could sent what you type in sir and thank you for your video

  • @emilycasey8357
    @emilycasey8357 Месяц назад

    How do you account for one time costs in a pro forma?

  • @nikkicook338
    @nikkicook338 2 года назад +2

    Where does your variable information come from? How did you decide the estimated units of 1000 for product 1?

    • @CalonHeindel
      @CalonHeindel  2 года назад

      This was just a rough estimate. There are lots of different ways to create forecast or predict demand. This video more covers the basics of a pro forma income statement rather than go into depth on forecasting. In the future I hope to provide videos specifically for forecasting.

  • @moniquestevens9961
    @moniquestevens9961 Год назад +1

    I need to create a Pro Forma Balance sheet for a startup business but it has to have three years. Can I use what you have shown here to do so? Its for an Entrepreneurship class I have to take.

  • @hansolo7642
    @hansolo7642 Год назад +1

    is the 200k net income how much you make every 12 months?

    • @CalonHeindel
      @CalonHeindel  Год назад

      Great question! Yes so the $200k is how much the business has made in net income total over those 12 months