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Best for: Small business owners · Founders reviewing monthly results · Bookkeepers preparing management reports
A profit and loss statement, also called a P&L or income statement, summarizes revenue, costs, and expenses for a period. It shows gross profit, operating profit, net profit, and margins.
Small businesses use a monthly P&L to review performance, prepare management reports, and understand which costs are growing.
List revenue at the top, then subtract cost of goods sold to calculate gross profit. Subtract payroll, contractors, rent, software, marketing, insurance, fees, travel, supplies, and other operating expenses to reach operating profit.
Add other income or expenses and tax where applicable. The workbook includes twelve monthly columns and a full-year total column so each line can be compared over time.
Gross profit measures revenue after direct costs. Net profit is what remains after all operating costs, other items, and tax.
Break-even revenue is the estimated sales level needed to cover fixed costs and variable costs. Review it with actual margins rather than relying on one month of results.
Open a ready-made copy in Google Sheets, or keep the XLSX file for Excel.
Make a copy in Google SheetsMade for practical spreadsheet work by the Digital Store team. Formulas and example values are checked against the downloadable workbook; updated October 7, 2026. Use the file as a planning aid and verify decisions with your own records or professional advisor where appropriate.
Full-year sample included in the workbook
The sample values demonstrate the formulas. Replace them with your own accounts and confirm tax treatment with a qualified professional.
Download this file first to unlock review submission.
It is a reusable income statement format for recording revenue, direct costs, operating expenses, tax, and net profit over a chosen accounting period.
A P&L reports income and expenses over a period. A balance sheet reports assets, liabilities, and equity at a point in time.
Cost of goods sold generally includes direct costs tied to the products or services sold, such as materials, production labor, and direct delivery costs. Confirm treatment with your accountant.
Yes. The workbook is designed for small business management reporting with monthly columns, annual totals, margins, and break-even calculations.
Yes. Download the XLSX file and import it into Google Sheets, or follow the import steps shown on this page.
