hello and welcome to this walkthrough on how to use the profit and loss statement template
the profit and loss statement is a financial statement when you summarize revenue and expenses
in order to get your net income it is a very useful tool which allows you to identify trends
in your businesses profitability make a quick cost driver analysis or just keep tabs on your taxes
all of which allows you to create better business strategies for your company
without further ado let's get started here in the introduction tab we have
a quick guide on the different inputs and variables of a profit and loss statement
below we have a customization difficulty a quick explanation of the tabs included in this template
and some instructions on how you can customize this template let's get to the main worksheet
to do that you can just click this hyperlink on the top left or just simply click on the
profit and loss statement tab here we have a very simple but very usable profit and loss statement
over at the top you can input your company name as well as the period you'll be working in
below that we have some quick stats namely total gross income total expenses total
taxes and total net profits over here we have two macro buttons clicking on the full screen button
hides the ribbon making your worksheet bigger while clicking on the refresh button updates
the expenses analysis graph on the far right side whenever you input new data in the expenses table
do remember that changes done by macros cannot be undone so in case you want to
see your ribbon again all you have to do is put it in windowed mode and it should appear again
below the charts we have the input tables namely income details expenses and tax details
note that gross profit and total non-operational income are computed automatically so remember to
not input any data on these grayed out cells for income details we have placeholders here that you
can replace so fill out total sales revenue and total cost of goods sold and below gross profit
include any other sources of funds entering your firm and it gives you your totals below
on the right hand side you can see some sparklines so you can have a quick peek
about the performance of a certain category over a year and you have a total column to show you
how much a certain category earned in a year same thing goes with expenses and tax details
tables just replace the categories and monthly data to your liking but again when updating
the expenses table make sure to hit the refresh button so the expenses analysis chart can update
at the very bottom we have some summations we have your very important net profit which is basically
just your total income minus your total expenses and total taxes below we have your accumulated
profits so we can see how much profits are we actually holding throughout the year and that's
basically the net profit of the current month plus the accumulated profits of the previous month
below are arrows which shows the percentage change compared to the previous month going back again on
top we have a graph called month over month gross which basically plots your net profits alongside
your accumulated profits and at the bottom again we see the percent changes per month
this graph updates automatically unlike the chart to the right
here we have your expenses analysis chart this is a pivot table where you can try and see
where your business shells out the most money to on top we have some very neat
slicers which you can use to quickly look up the expenses for the months you would prefer
for example i just want to see the expenses for quarter two i just click on april and while
holding down the control key press on may and june then we can see the expenses just for quarter two
if you want to see all of the months again just click on this remove filter button
on the top right that concludes this walkthrough of the profit and loss template
i hope you guys enjoy this template and i wish you greatly benefit from it