Profit and loss templates

A profit and loss statement shows a business's income, costs and resulting profit or loss over a period. Owners, lenders and accountants use it to judge how the business is performing.

Include revenue by source, cost of sales, operating expenses, gross profit, net profit or loss, and comparison with last period. Compare each month with the same month last year, since seasonal ups and downs can hide a real trend in a single month.

Profit counts income and costs when they are earned or incurred, while cash flow tracks when money actually arrives and leaves. A profitable business can still run short of cash if customers pay late.

Subtract the cost of the goods or services sold from revenue. The result is gross profit, which shows what is left to cover running costs.

Record each rent payment with its date and unit, and list every repair and running cost against the property. Keep receipts, since they support your tax return.

Start with Profit and Loss Statement: Track revenue, costs and profit for a small business, month by month, with a dashboard. If that is not the right fit, compare it with Rental Property Income Tracker.

The templates here are 4 to 5 pages long. Cut any section you do not need; each template explains what its sections are for.

Yes. These profit and loss templates work in Google Sheets and Microsoft Excel. All 3 templates are free, with no account or email needed.