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Welcome back to money in life TV the place people come to to learn about finances investing and taxes well how's it going YouTube how y'all doing out there in the lands of the internet I hope you're having a wonderful day the day chipper and I have some wonderful information to share with you and a new free downloadable spreadsheet I was hoping to get this video out a little sooner in the tax season but it didn't quite happen so here it is so a lot of you out there you're hustling you're doing your business you're you might have a Schedule F you might be a farmer you might be a sole proprietor and have a business and I thought it would be a good idea to share a spreadsheet that I've created and I to be honest I created it for myself because doing YouTube now I needed to do this to track my revenue and expenses to help me fill out my tax forms and things like that so I wanted to share this with you because I think it will help you man help you better manage your books a little way to give you an overview of how you're doing business wise if you're profiting if you're not profitable things like that this is the poor man's version of bookkeeping basically but it can work especially if your business is small if you don't have a lot of transactions going on this can be a very easy way for you to manage your books I see a lot of people with businesses and they don't have a even a basic way to track how they're doing and so I wanted to create this and share this with you guys as you guys know I love to explain things with examples so the example we're gonna use is chippers awesome youtube channel now this is a fictitious example but I have a feeling that chipper might actually leave me someday because you know that bird thinks he's awesome he thinks he's great thinks he doesn't need me anymore sometimes I even amaze myself now the example we're looking at here it's based on a fictitious YouTube channel but it doesn't matter what kind of business you have it could be a landscaping business it could be a like if you're a hairdresser you know a plumber whatever kind of business you have it doesn't matter you can still use this spreadsheet and benefit from it so on this first tab what you're seeing is you're gonna see income up here then we're gonna have expenses and then this is by month so this is a profit and loss statement by month I don't have a balance sheet made yet or at this point but for tax purposes your primary tool that you'll use for your business is a profit and loss statement not so much your balance sheet in most most cases so.