Profit and Loss Statement Templates – 10 Free Sample Templates

Profit and loss statement is one of the financial statements that is used to summarize the revenues, costs and expenses incurred during the specific period of time. You will be able to present the complete information about the ability of the company to generate profit. The profit and loss statement is also known as statement of profit and loss, income statement and income and expense statement. The profit and loss statement also proves helpful for individuals who are preparing budgets. The statement can be prepared by hand or in the spreadsheet or in any accounting software. In all cases, the format of the profit and loss statement remains same. Following are some tips that will prove helpful for you to design a profit and loss statement:

  • In the first step, you have to design a standard format for the profit and loss statement. The statement starts with a header and on the header, you will write the title, including “Profit and Loss Statement” followed by the period of time it covers, for instance “For the year ending December 31, 20XX.” You can also write the name of the organization at the top of the statement.
  • Now it is time to start with the revenue section and write the details of each type of the revenue. The next row will be for expenses section, and you can start with major expenses plus miscellaneous expenses. Each section is followed by the row of a subtotal, and at the bottom, enter the row for “Net Profit” that will be obtained by deducting revenues from the expenses.
  • Write the totals of the time period in question of each revenue and expense category. Do not forget to consult bank statements and invoices to make sure that you have captured all the applicable financial transactions.
  • The revenue section will be divided into segments, and write the total of each revenue category on the profit and loss. Each category will be separated by a line and you can write revenues in the dollar amount in descending order or in alphabetical order. If you have more than one revenue categories, you can add them directly under the last category.
  • If you are in the selling business, then write the total cost of goods sold under the subtotal of revenue. Deduct the costs from the revenues to generate a fresh line that will be labeled as “Gross Profit”. The extra lines are not required to prepare financial statements, or for the persons directly linked with the service business.
  • Write a total for each expense category in the profit and loss statement. The categories will be added in the descending, or in alphabetical order. Carefully review the transactions of the “Miscellaneous expenses” and reassign or adjust them in other relevant categories. Total all the expense categories and subtotal below the expense section. Expenses total will be subtracted from the revenue total to get the gross profit. If you get a positive number, then the line will be labeled as “Net Profit”. If you get a negative number, then the number will be shown in brackets around it and it will be labeled as “Net Loss”.

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

Sample Profit and Loss Statement Templates

Here is preview of Profit and Loss Statement Template in MS Word Format,

Here is download link for this Profit and Loss Statement Template,

 

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