A billing statement can be used as an invoice as well as an accounts receivable ledger. This works well as a customer account statement. Most investors and creditors use financial ratios to analyze these comparisons. There is almost no limit to the amount of ratios that can be combined for analysis purposes. Close the books with less runaround. Share this sheet with your accounting team to easily manage your financial month end process and keep everyone on schedule. Use the sheet for monthly, quarterly, and annual tasks. The income statement formula is connected to the matching principle of accounting, which posts revenue when it is earned and expenses when they are incurred to produce revenue. The end of the fiscal year moves one day earlier on the calendar each year (or two days when there is an intervening leap day) until it would otherwise reach the date four days before the end of the month (August 27 in this case) or earlier. At that point the first Saturday in the following month (September 3 or earlier in this case) becomes the date closest to the end of August and it resets to that date and the fiscal year has 53 weeks instead of 52.