Free Profit and Loss Template
Monthly P&L laid out by category and account. Drop in your numbers, add SUM formulas, get gross and net profit at a glance.
This template helps you organise revenue and expenses into a P&L view. It is not financial or tax advice. Your accountant can advise on category structure and statutory reporting requirements for your country.
P&L statement template
One row per account, one column per month, plus a year-to-date column. Categorise rows as Revenue, COGS, or Operating expense and use SUM by category for subtotals.
| Category | Account | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Sales | 8500 | 9200 | 10100 | 9800 | 11200 | 10500 | 9700 | 11800 | 12100 | 11500 | 12800 | 14200 | 131400 |
| Revenue | Services | 2400 | 2400 | 2400 | 2400 | 3000 | 3000 | 3000 | 3000 | 3600 | 3600 | 3600 | 3600 | 36000 |
| COGS | Materials | 3400 | 3800 | 4000 | 3900 | 4500 | 4200 | 3900 | 4700 | 4800 | 4600 | 5100 | 5700 | 52600 |
| Operating expense | Rent | 2200 | 2200 | 2200 | 2200 | 2200 | 2200 | 2200 | 2200 | 2200 | 2200 | 2200 | 2200 | 26400 |
| Operating expense | Salaries | 4500 | 4500 | 4500 | 4500 | 4500 | 4500 | 4500 | 4500 | 4500 | 4500 | 4500 | 5500 | 55000 |
| Operating expense | Software / SaaS | 420 | 420 | 440 | 440 | 440 | 440 | 440 | 440 | 460 | 460 | 460 | 460 | 5320 |
| Operating expense | Marketing | 800 | 1200 | 900 | 1100 | 1400 | 1000 | 900 | 1200 | 1300 | 1500 | 1800 | 2200 | 15300 |
Tip: keep the column structure stable. If you bring this into accounting software later, a CSV with consistent headers imports cleanly. Add subtotals via spreadsheet formulas rather than typing them in directly.
Frequently asked questions
What's the difference between a P&L and an income statement?
Nothing material. "Profit and loss" is the term most commonly used in Australia and the UK. "Income statement" is the term most commonly used in the US. They describe the same report: revenue, costs, expenses, and net profit over a period.
Cash basis or accrual?
Cash basis records revenue when received and expenses when paid. Accrual records them when earned and incurred. Cash is simpler and used by most very small businesses. Accrual is required above certain thresholds and gives a more accurate picture of performance. This template works for either; what matters is which side of each line goes in.
Do I need a P&L if I use Xero or QuickBooks?
Your accounting tool already generates one. This template is for the businesses that don't have an accounting tool yet, or for one-off scenario modelling (e.g., 'what would next year look like if we hired one more person?'). Most small businesses graduate from a spreadsheet P&L to accounting software within a year or two.
How do I calculate gross profit and net profit?
Gross profit = revenue − COGS. Net profit = gross profit − operating expenses (and minus tax if you want net profit after tax). Add SUM formulas in your spreadsheet for each category and the subtotals.
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