Free Profit And Loss Statement (P&L)
Without a Profit and Loss statement (P&L), companies have no way of measuring what they are bringing in against what it costs them to bring that profit in. Any business needs a P&L statement in order to measure and analyze the results of their business activities.
It's how you know if you are making money or losing money. These statements typically summarize all the costs, revenues, and expenses that a business incurs over a given period of time (like each month or quarter).
What Are the Benefits of Using Our Free P&L Statement?
There are several tangible benefits of using our Free P&L Statement:
- It can help companies evaluate how much money they actually make – that is what is left over after all expenses and overhead are deducted.
- A P&L is a great tool to help companies decide which costs should be cut.
- Your money and time are precious, so why waste them building your own statement or hiring a professional CPA to design you one when you can download a professionally designed on for free from our site?
- Businesses who use P&L statements have a much greater chance of surviving in the long run because they know more about their finances and capital and can make wiser decisions when needed about how to invest excesses and what to trim in order to survive lean times.
- Our statement & calculator are intuitive, easy to use & customizable – even if you've never used a P&L statement before.
- Financial tools and metrics like a P&L statement are what allow businesses to really take charge of their revenue-generating activities in order to fine-tune their business to build a money-making machine.
- With our free software, it's easy to check annual, monthly, or quarterly COMPs to check up on how your business's performance is trending.
You'll find easy-to-follow instructions from a certified CPA inside the statement to help you get the most out of it. Additionally, all of the following categories are already in the P&L without having to customize or add them: income from sales or services, cost of sales, inventory, purchases, various costs of doing business, advertising, auto expenses, depreciation, net income, and much more.
Just download the statement, open it up and select the fields that are relevant to your business. This would include all revenue sources and costs or expenses. Then just add the actual data to the required field and the statement will perform the computations for you – no math required!
Once you are done, the resulting figure will be your net profit, or loss. You can then track this, as well as any other category of data you've entered on the P&L, over time to monitor the direction your business is headed.