Free spreadsheet
Profit & Loss Statement Template
A simple monthly management P&L. Enter amounts from your records and see gross profit, operating profit and profit or loss before tax for each month — with an annual summary that only counts months you have marked complete, and says so.
Did the business make a profit before tax?
How it adds up
Net revenue = revenue − returns, refunds and discountsGross profit = net revenue − cost of salesOperating profit = gross profit − operating expenses − depreciationProfit or loss before tax = operating profit − interestIn the example’s January: 10,000 − 4,000 = 6,000 gross profit; 6,000 − 3,000 − 500 = 2,500 operating profit; 2,500 − 100 = 2,400 before tax. Margins show “n/a” when net revenue is zero, and losses show as negative figures in red.
What it does not do
- It stops before tax and is not a tax return or statutory accounts.
- It does not convert bank transactions; use amounts from your bookkeeping.
- For a full set of figures, pair it with the balance sheet, and plan ahead with the budget and actuals template.
Common questions
Is this a tax return or official accounts?
No. It is a simple management statement from amounts in your own records, and it stops at profit or loss before tax. It does not prepare a tax return or show that your accounts meet any filing or accounting standard.
Can I paste in my bank transactions?
Not directly. The statement uses accrual amounts — revenue when it is earned and costs when they are incurred — taken from your records. It does not turn bank transactions into accounting entries; your bookkeeping software or bookkeeper does that.
What should not go in the P&L?
Loan money received, loan principal repaid, money the owner puts in and owner drawings are not revenue or operating expenses. Only loan interest goes on the Interest line. Equipment purchases are spread over time as depreciation, which has its own line, so they are never counted twice.
Where do the wages of people who do the work go?
In cost of sales, as direct labour. Office, admin and management wages go under operating expenses. Put each person’s wages in one place only.
How does it handle months I have not finished?
Each month has a status. Only Complete months count in the year column and the annual summary, which says how many months it covers — so three months never look like a full year. A Complete month uses what you entered, so type 0 for no activity; a Complete month with nothing entered is flagged.
Which spreadsheet apps does it work in?
It is a standard .xlsx file with ordinary formulas and no macros. We checked the example, losses, a month with no revenue, incomplete months and a row inserted inside a section in LibreOffice Calc. It has not been tested in Excel, Google Sheets or Numbers.