Are you a small business owner looking for a straightforward way to create profit and loss statements? Our profit and loss statement template is designed for you. Download our template and get started for free!
A profit and loss (P&L) statement, also known as an income statement, is a financial statement that summarises the revenues, costs, and expenses incurred during a specified period, usually a quarter or fiscal year. It provides a snapshot of a company’s sales and expenses over a period of time, showing company revenues, expenses, and net income. It is used by company managers, investors, and analysts to analyze the financial health of a company and evaluate its profitability.
Understanding your business’s financial performance is crucial for sustainable growth. A profit and loss statement allows you to:
Track profitability: A profit and loss (P&L) statement is like a financial health report for a company. It summarizes revenues, costs, and expenses over a specific time, giving a snapshot of how well the company is doing.
Budget effectively: Plan for future expenses and revenue goals.
Make informed decisions: Base your business strategies on concrete financial data.
How to create a profit and loss statement with our free template
Decide reporting period
Choose whether you want to generate a monthly, quarterly, or yearly report. Tailor the template to your business’s unique needs.
Add revenues and expenses
Input your income and costs accurately. Our template is designed to accommodate various revenue streams and expense categories, ensuring comprehensive coverage.
Add/remove line items as necessary
Customize the template to align with your specific business model. Add or remove line items to reflect the nuances of your operations.
Rest easy knowing that our template handles the complex calculations for you. Instantly see your net profit or loss without the headache of manual computations.
Example profit and loss statement
Below is a profit and loss statement example:
Why you should use our free proforma invoice template
Simple and straightforward
Our Profit and Loss Statement Template is crafted with simplicity in mind, ensuring that even if you’re not a financial expert, you can effortlessly navigate and input your financial data.
Save valuable time by utilising our template, which streamlines the process of creating a comprehensive Profit and Loss Statement. No need to start from scratch or deal with intricate calculations – we’ve got you covered.
Forget the hassle of manual computations. Our template takes care of intricate calculations, giving you instant insights into your net profit or loss. This automation allows you to focus on strategic decision-making rather than number crunching.