Track revenue
See how much your business earned during the period.
Free business template
Profit & Loss Statement
Template
A busy business can still be an unprofitable one.
See what your business earned, what it cost to earn it, and what was left as profit. Use this free Profit & Loss Statement Template to bring your revenue, direct costs and operating expenses into one clear view.
Free to use. No sign up required.
Profit & Loss Statement
Your Business Name
| January | February | March | Q1 Total | |
|---|---|---|---|---|
| Revenue | ||||
| Sales Revenue | 5,000 | 5,800 | 6,200 | 17,000 |
| Other Revenue | 200 | 150 | 300 | 650 |
| Total Revenue | 5,200 | 5,950 | 6,500 | 17,650 |
| Cost of Goods Sold | ||||
| Opening Stock | 1,000 | 1,200 | 1,100 | 3,300 |
| Purchases | 1,500 | 1,600 | 1,800 | 4,900 |
| Total Cost of Goods Sold | 2,500 | 2,800 | 2,900 | 8,200 |
| Gross Profit | 2,700 | 3,150 | 3,600 | 9,450 |
| Operating Expenses | ||||
| Rent | 500 | 500 | 500 | 1,500 |
| Marketing | 300 | 350 | 400 | 1,050 |
| Salaries | 800 | 800 | 800 | 2,400 |
| Utilities | 150 | 200 | 180 | 530 |
| Other Expenses | 200 | 250 | 300 | 750 |
| Total Expenses | 1,950 | 2,100 | 2,180 | 6,230 |
| Net Profit | 750 | 1,050 | 1,420 | 3,220 |
Track direct costs
Record the costs directly connected to the products or services you sold.
See gross profit
Understand what is left after the direct cost of your sales.
Track operating expenses
Keep rent, salaries, marketing and other running costs organised.
See net profit
See what remains after your business costs and expenses have been taken into account.
Everything you need to build a clearer picture of profit.
The template gives you a simple structure for recording the numbers that make up your Profit & Loss Statement.
Revenue section
Gross Profit calculation
Cost of Goods Sold section
Operating expenses
Net Profit calculation
Monthly tracking
Annual totals
Automatic formulas
Example entries to help you get started
Choose one format that works for you.
Google SheetsUse it online
Work in your browser, access the template from different devices and share it with someone else if you need to.
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Prefer working from your computer? Download the Excel version and use it offline.
We’ll add the Excel file when it is shared.How to use your Profit & Loss Statement Template
You do not need to be an accountant to use it. Start with the numbers you already have.
Add your revenue
Enter the money your business earned during the period. Include sales and other income that belong to that month.
| Revenue | January |
|---|---|
| Sales Revenue | 5,000 |
| Other Revenue | 200 |
| Total Revenue | 5,200 |
Add your direct costs
Enter the costs directly connected to the products or services you sold.
| Cost of Goods Sold | January |
|---|---|
| Opening Stock | 1,000 |
| Purchases | 1,500 |
| Total Cost of Goods Sold | 2,500 |
Add your operating expenses
Record the costs of running the business, such as rent, salaries, marketing, utilities and software.
| Operating Expenses | January |
|---|---|
| Rent | 500 |
| Marketing | 300 |
| Salaries | 800 |
Review your profit
The template calculates your gross profit and net profit. Compare with previous months to see what is improving and what needs attention.
| Profit Summary | January |
|---|---|
| Gross Profit | 2,700 |
| Net Profit | 750 |
What is a Profit & Loss Statement?
A Profit & Loss Statement, also called a P&L or income statement, shows how much your business earned, what it cost to generate those sales, what you spent running the business and whether you made a profit or loss during a period.
After all the work your business did, did it actually make money?
Frequently asked questions
Is this Profit & Loss Statement Template free?
Yes. The Profit & Loss Statement Template is free to use. You can open it in Google Sheets or download the Excel version. No sign-up is required.
Can I customise the template?
Yes. Rename revenue lines, direct-cost categories and operating-expense categories to match your business, and add rows for income or costs that are specific to you.
What is the difference between gross profit and net profit?
Gross profit is revenue minus the direct cost of the products or services you sold. Net profit goes further by subtracting operating expenses such as rent, salaries, marketing, utilities and software.
What is the difference between profit and cash flow?
Profit tells you whether the business earned more than it spent over a period. Cash flow tracks when money actually enters and leaves the business. A profitable business can still be short on cash.
How often should I update my Profit & Loss Statement?
For most small businesses, monthly is a good baseline. Update it after each month closes so you can compare revenue, gross profit, expenses and net profit over time.