// TOOL
Income Statement for a Small Business (South Africa)
Short answer: An income statement shows your income, less your expenses by category, and the net profit for a period. OptiTax builds it from your slips and bank statements for any number of months, on a phone page with a PDF.
What it looks like
| Line | 6 months |
|---|---|
| Income | R182 400.00 |
| Cost of sales | R71 220.00 |
| Operating expenses | R48 960.00 |
| Net profit | R62 220.00 |
How it works
- Send your slips and bank statements on WhatsApp.
- Say "financials 6 months" or "profit and loss for 12 months".
- Tap to view the statement, and ask for the PDF to share.
Do it on WhatsApp
Once you are set up, just say: "financials 6 months"
Frequently asked questions
Is an income statement the same as profit and loss?
Yes, the two names mean the same report.
Can my bank use it?
It is management accounts from your records, not audited statements. Ask the bank what it needs.
Does it include VAT?
Ask "my VAT" for the VAT you can claim for any period. See completing a VAT201.
Related
Income and Expense Tracker for a Small BusinessTrack a small business's income and expenses without a spreadsheet: send slips and statements on WhatsApp, ask what you spent on anything.Provisional Tax Calculator (IRP6)Estimate your first IRP6 provisional tax payment: tax on your estimated taxable income for the year, halved, less PAYE already withheld.VAT201: How to Complete ItWhat goes on a VAT201: output VAT on your sales, input VAT on valid tax invoices, and the difference you pay or claim back. With a VAT calculator.
General information and estimates, not tax advice. OptiTax prepares and organises; you or your registered tax practitioner submit to SARS. Last checked 19/10/2026.