Free Profit & Loss Statement Template
Monthly and YTD P&L in banker-friendly layout.
Save this file straight to your Drive, then open it with Google Sheets — no download needed.
- ✓12-month + YTD
- ✓Auto gross profit
- ✓Banker-friendly
About this template
A profit and loss statement (P&L, also called an income statement) shows whether your business made or lost money over a period. It walks from revenue down through cost of goods sold to gross profit, then through operating expenses to net income — the real bottom line.
This free Excel template is laid out the way a banker or accountant expects to read it. You paste in your totals; gross profit, total expenses, net income, and the year-to-date column calculate themselves across all 12 months.
What's included
- Revenue and cost of goods sold (COGS) sections with automatic gross profit
- Itemized operating expenses with category subtotals
- Automatic net income (profit or loss) for every month
- 12-month columns plus a year-to-date (YTD) total
- A clean, banker-friendly layout suitable for loan and investor packages
How to use it
- Choose your period. Decide whether you are reporting a single month, a quarter, or a full year. The 12-month grid handles all three.
- Enter revenue. Put total sales/revenue at the top for each month. If you have multiple revenue streams, list them and let the section subtotal.
- Enter cost of goods sold. Add the direct costs of delivering your product or service. The template subtracts COGS from revenue to show gross profit automatically.
- Enter operating expenses. List rent, software, marketing, payroll, and the rest. Subtotals roll up so you can see where the money goes.
- Read net income and YTD. Net income calculates per month, and the YTD column sums the year so far — the two numbers a lender will look at first.
License: Free for personal and commercial use. No attribution required. Do not resell the template itself.
Frequently asked questions
What is a profit and loss statement?
A P&L (income statement) summarizes revenue, costs, and expenses over a period to show net profit or loss. It answers the simplest question about a business: did it make money?
What is the difference between gross profit and net income?
Gross profit is revenue minus the direct cost of goods sold. Net income is what is left after you also subtract operating expenses, interest, and tax — the true bottom line.
Is a P&L the same as an income statement?
Yes — "profit and loss statement" and "income statement" are two names for the same report.
How is a P&L different from a balance sheet?
A P&L covers a period of time (a month or year) and shows performance. A balance sheet is a single-date snapshot of what you own and owe. Most businesses use both.
Can I use this for a bank loan or grant?
Yes. The layout is deliberately banker-friendly. Fill it in accurately and it is suitable for loan, grant, and investor packages.
