The Profit and Loss Statement Template is a spreadsheet designed to track revenues and expenses so you can you determine profit and loss for your business.
This spreadsheet has two different worksheet templates. The first one is for services and the second one is for goods. Fill in the amounts and the spreadsheet will calculate income and expenses.
The document was designed with a three year comparison, so you can review two previous years. Of course, you can delete the extra years or use this document to calculate profit and loss for any period such as quarterly, monthly or weekly.
As a service business, it is important to analyze your revenues and expenses so you know where you stand. You can perform this analysis by downloading the P&L Statement. The services worksheet calculates operating income, non-operating income and total income. It will also calculate operating expenses, non-recurring expenses and earnings before taxes (EBT). The summary includes net income and adjusted retained earnings.
As a business that sells goods, you need to track this information differently. The goods worksheet tracks sales by quarter, cost of goods sold and gross profit. The worksheet also calculates operating expenses, non-recurring expenses, earnings before taxes, net income and adjusted retained earnings.