Simple Profit and Loss Statement Template
Use this simple P&L statement template to calculate your organization’s total revenue compared to your costs and expenses. This fully customizable template prompts you to note your Statement Reporting Period date range, enter revenues (including any deductions for returns and discounts) and cost of goods sold (COGS), to determine your gross profit. Enter your expenses to calculate your total expenses, and to reach your net income figure.
For more finance-reporting resources and templates, read our article on business plan financial templates.
Small Business Profit and Loss Statement Template
Use this simple template if the categories under income and expenses don’t need to be broken out. This template can be used by service, retail, and B2B organizations. The income section includes space to show income and to deduct the cost of goods sold. The expenses section includes common categories, such as wages and benefits, insurance, and taxes. To use this template for multiple periods (e.g., six months or three years), save a copy for each time period.
Read our article on free small business profit and loss templates to find additional resources and get the most out of your P&L statements.
Self-Employed Profit and Loss Template
Self-employed people and freelancers have unique needs. This self-employed profit and loss template takes these requirements into account by breaking out income by client and by using expense categories that apply to people who work for themselves.
Restaurant Profit and Loss Template
Food service businesses have to keep track of their food and beverage inventories. This template has entries for different types of inventory — including multiple beverage categories, such as draft beer, canned and bottled beer, wine, spirits, and non-alcoholic beer — in both the sales and cost of goods sold sections.
Printable Profit and Loss Statement Template
This one-page P&L template provides a print-friendly solution for those looking to compare their total revenues to their total costs and expenses. Use his straightforward template to determine whether your net income puts you in the red or black, and whether you need to increase your profits by increasing your revenues or reducing expenses.
Monthly Profit and Loss Template
Use this template to create a P&L statement that tracks your month-by-month and year-to-date (YTD) costs and expenses compared to your revenue. Enter your revenue figures, reductions, expenses, professional services (if applicable), banking and finance information, general business costs, and taxes to determine if your total revenue exceeds your costs and expenses. A month-by-month bar chart indicates your P&L trend by mapping how your gross profit relates to your total expenses over a series of months.
Quarterly Profit and Loss Statement Template
Use this three-month P&L statement template to record your quarterly income and expenses. This template is a perfect solution for companies that need to provide quarterly P&L updates, and includes quarter-by-quarter columns, so that stakeholders can review your organization’s net income in smaller time increments.
Annual Profit and Loss Sample Template
Measure your YTD and year-over-year profits and losses by comparing your total revenue to your total expenses and costs. Enter annual revenue, cost of sales, operating expenses, general and administrative costs, and taxes to determine your net income. The template provides annual insight into your P&L, as well as a five-year outlook on your profit and loss trends.
Weekly Profit and Loss Template
Track your week-by-week budgeted revenue versus your actual revenue with this weekly profit and loss template. The template’s detailed Profit and Loss Category sections include revenue, COGS, sales and marketing costs, labor and administrative costs, and earnings before interest and taxes (EBIT). The template’s Balance Sheet Category sections includes cash, inventory, accounts receivable, net fixed assets, accounts payable, long-term debt, and other factors. Week-by-week columns provide you with more detailed insight into your P&L, and whether you need to reduce costs or increase revenue to boost your profits.
Read our article on free small business budget templates to find additional budgeting resources and to improve financial tracking and management.
Retail Profit and Loss Template
Use this visually dynamic retail P&L template to determine your store’s profits or losses over any customized period of time. Enter income and expense figures, and the dashboard-style bar chart will illustrate your gross profit, total expenses, and actual P&L, while comparing your profits versus expenses. Use the detailed Costs of Goods Sold and Taxes sections to further account for every figure related to your P&L, as well as the overall fiscal health of your organization.
Construction Profit and Loss Template
Accurately assess your construction company’s P&L with this comprehensive construction-specific template. The template comes pre-filled with numbered jobs in the Revenue section and construction-specific costs in its Expenses section (e.g., labor, materials, equipment rentals, subcontractors, permits, dump fees, etc.). The template also provides sections for overhead expenses and taxes, so that you can provide owners, construction financial managers, or other stakeholders with an accurate, month-by-month financial picture of your construction company’s total profits.
Home Business Profit and Loss Statement Template
Gain instant insight into your home business’s actual profits and losses with this straightforward template. Enter your desired reporting period, and then add figures to determine your gross revenue, COGS, and gross profit. Then, itemize your home business’s expenses (e.g., rent/mortgage, utilities, office supplies, internet & phone, etc.) to calculate your net income. This single-page template is the perfect fit for home businesses looking to gain quick insight into their financial position.
Profit and Loss Chart Template
Chart your company’s actual profits and losses for any period of time with this visually-rich profit and loss chart template. Enter total revenues and expenses, and the template will automatically calculate your profit/loss ratio. The Trend section of the template charts your gross profit and total expenses, and provides you with your current P&L.
Rental Property Profit and Loss Statement Template
Determine whether your rental revenue is exceeding the cost of maintenance and other rental property-related expenses with this P&L template. List the revenues of each property, additional rental-related revenue (e.g., application fees, reserve parking, storage unit, laundry, etc.), and ongoing expenses (e.g., cleaning, landscaping, utilities, advertising, HOA fees, etc.).
Then, the dashboard-style tally will provide you with your properties’ gross revenue minus total expenses, to give you your net revenue. In the Deposits tab, list all renters’ deposits, and the template will calculate totals in the Total Deposits column. This template enables you to keep track of whether these deposits need to be returned or can be kept as compensation once renters vacate the space.
Personal Profit and Loss Template
Individuals and families can use the profit and loss model to track their income against their spending and see if they are spending more or less than they make. This template is customized to include personal expense categories, such as entertainment, food, and household supplies.
Advanced Profit and Loss Template
This particular template contains many more categories than do the other templates in this article, and allows for a more detailed breakdown of expenses and revenue. The categories are grouped into sections. Enter data on the monthly tab, and see the year-to-date totals on the YTD tab. The monthly tab also has a chart that tracks month-to-month changes in total revenue and total expenses. This template can be used by service, retail, and B2B organizations. To use this template for multiple years, make a copy for each year.
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What Is a Profit and Loss Template?
Businesses use profit and loss (P&L) templates to list revenue and expenses to determine profitability. Use a P&L template to calculate your net income (gross income minus expenses), and whether you need to increase income or reduce costs.
Whether a business sells goods or provides services, a P&L statement can help determine how it has been performing in the past and predict how it may perform in the future. For new businesses, a profit and loss statement will give you a good idea of how things are going. Regardless of the type of business, the first step is to determine the period of time to be evaluated — usually for a quarter but can be a month, a year, or even a week.
P&L statements are typically prepared by owners or accountants, and used by owners, officers, and shareholders to get a feel for the state of the business. A P&L statement can also give potential investors or buyers a quick view of the state of the business.
Individuals can also use a profit and loss template to track their personal expenses and income so they know if they are saving money or spending more than they make.
While P&L templates may vary, most include the following components:
- Company Name: Enter the name of your company.
- Statement Reporting Period: Select a reporting period for the P&L statement (e.g., weekly, monthly, quarterly, annually, etc.).
- Revenue: List all sources of revenue (e.g., sales, dividends, interest, rent, etc.) and the associated monetary amounts.
- Gross Revenue: List and review your gross revenue.
- Cost of Goods Sold: Enter the cost of goods sold by your company. This figure includes materials and labor costs, but excludes indirect expenses, such as sales and distribution costs.
- Gross Profit: Review your gross profit (i.e., your gross revenue minus COGS) for accuracy.
- Expenses: Itemize all of your expenses (e.g., wages and benefits, rent or mortgage, utilities, office supplies, etc.).
- Total Expenses: Add up all your itemized expenses to find your total expenses.
- Net Income: Calculate your net income by subtracting your total expenses from your gross profit.
Additionally, some more advanced P&L templates include the following additional components:
- Reductions: Enter any less sales returns, less sales discounts, or less cost of goods sold related to inventory, which will affect inventory costs (e.g., shipping, handling, insurance, etc.).
- Net Sales: To calculate net sales, subtract any discounts, allowances, or returns from your gross sales amount.
- Cost of Sales: List the total of all the costs accrued by selling your products or services.
- Tax Rate: Enter the tax rate your organization pays on its earned income.
- Taxes: Itemize your expenses related to taxes to determine your true net income after taxes. Doing so helps you estimate your organization’s income tax liabilities.
Once you’ve completed these steps, you’ll see your net profit or loss.
Additionally, note that operating income can be determined by subtracting gross profit from total expenses, and that operating expenses can be determined by adding all expenses.
Increase Transparency with Smartsheet for Profit and Loss Statements
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Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change.
The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed.
When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time. Try Smartsheet for free, today.