Logo - Full (Color)
Skip to content

Profit and Loss Statement for Excel, Google Sheets, PDF

Use this free profit and loss statement template to analyze performance over time and improve your company's health.

Download Free Template

Available for Excel & Google Sheets & PDF

Template Highlights

  • The template includes sample line items with common income sources and expenses.
  • Just enter your data into the template then analyze it to evaluate total income, expenses, and profit or loss over time.
  • Download the profit and loss statement template as an Excel sheet or PDF. You can also use this profit and loss statement template in Google Sheets.
  • Print it and analyze the trends it shows. 

 

What is a profit and loss statement?

Profit and loss statements, also called income statements, are financial documents that summarize the profit (or loss), expenses, and revenues your business has accumulated during a specific time period — typically a fiscal quarter or year. 

What does a profit and loss statement include?

A profit and loss statement starts with the total revenue your business generates, accounts for the different business costs, and ends at the net profit you earned after deducting all the expenses. 

As a result, typical terms you might see in a profit and loss statement include:

  • Revenue: Revenue is the money your business generates from selling its products or services. 
  • Expenses: Expenses include all the business costs you incur directly and indirectly to run your firm. 
  • Income before tax: Income before tax, also called earnings before tax (EBT), is the resulting number from the revenue minus the expenses. 
  • Net profit (or loss): Once you factor in taxes in the income before tax, you get net profit, or the bottom line. 

Importance of profit and loss statements

A profit and loss statement is vital for a business as it provides you with critical financial metrics such as total revenue, expenses, and net profit. It also enables:

Performance tracking

Darryl Stevens, CEO of Digitech Web Design, shares that by diving into profit and loss statements, you can “get a clear picture of where things stand financially.”

In particular, you can monitor your business’s financial performance by tracking its revenue streams and expense categories. 

Cost optimization

According to the U.S. Bureau of Labor Statistics, about 50% of startups close their operations within the first five years of their establishment. 

If you don’t wish to join that list, the expense section on your profit and loss statements can be a good starting point for patching holes in your business. You can analyze where your money is going and track how your business costs respond to the outside market. 

Revenue prediction

Smart business management is all about planning, and profit and loss statements give you a great way to forecast the revenues you'll be working toward in the following fiscal period. 

In fact, Kamyar Shah, an established fractional Chief Operating Officer, shares: “When it comes to revenue prediction, whether a startup or not, companies would benefit from keeping track of their income statements.”

Frequently Asked Questions

Yes, HubSpot offers a free profit and loss template for your business operations!

Just provide your contact information, and you can instantly download the template (and all the other templates in this collection).

Like all other P&L statements, the template has two main parts: income and expenses.

The income part includes all the money you've earned, like client payments for your services or products. The expenses section includes all the costs you incur while running your business. These expenses can be things like office supplies, rent, and utilities.

Yes, you can make changes to our free profit and loss template!

You can edit the whole template — from the title and values to the fonts and colors. Go ahead and customize it just the way you like!

Our free profit and loss template is optimized for Microsoft Excel, so you can use it freely. 

Related Tags: