Free Profit and Loss Account…with Formulas!
A handy tool for 2013!
We all know that cash is king! But, keeping on top of revenue vs. costs vs. profit can be very challenging.
Use this free profit and loss template to plot in key sales and key costs over 2013. Then look at your expected profit. If it’s not what you were expecting, think about where you can increase your sales or cut your costs!
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Free P&L Account – Notes:
Here are some important notes for getting the most from your template:
There are three tabs in total.
- Tab 1 is the profit and loss spreadsheet. It allows you to work out how much profit you’ve made each month but also allows you to forecast your earning potential. All of the formulars are preset.
- Tab 2 shows your sales at a very high level. Rename the ‘services’ / ‘products’ in this tab and it will update on the master P&L (tab 1). Putting figures into these cells will also update in the master P&L (tab 1).
- Tab 3 shows your costs at a very high level. Rename the ‘costs’ in this tab and it will update on the master P&L (tab 1). I’ve already included e.g. marketing, as an example. Putting figures into these cells will update in the master P&L (tab 1).
- Any cells with any colour in them (i.e. on tab 1) are formulas – please do not type in these cells as it will affect the whole sheet.
- I have shown the gross profit as being the profit after all costs (whether they are costs of sales or overhead costs) apart from tax, and the net profit as the profit after all costs and all taxes, to keep things nice and simple for SMEs.
- I’ve set the corporate tax at 20%. You can change this by changing the number in cell G1 on tab 1…if it changes in the future that is! If you make a loss in any month, just overwrite the tax number in line 33 to ’0′.
- You might want to add more tabs to capture exact expenditure costs for your accountant, rather than totals.
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