Free Profit and Loss Template from FreshBooks
Take your business accounting into your own hands with a variety of accounting report templates, including the free downloadable P&L statement. Simply download, add in your numbers and keep your business financials organized – all for free.
Download the sample profit and loss template from FreshBooks to get started on yours today.
Get Your Free Profit and Loss Template
Downloadable, customizable and free? Sounds like a profit and loss statement template sent from the clouds.
The FreshBooks profit and loss template is simple to use. Download the form in Google Sheets, Google Docs, PDF, .DOC or .XLS in seconds. Fill in the blank fields to create the perfect report. With all of the required information broken down on the sheet, you’re able to avoid costly mistakes and save money in your business.
Creating accounting reports has never been so simple. Get your profit and loss template today to see for yourself.
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Free Profit and Loss Template
What is a Profit & Loss Statement?
Knowing whether or not your business is profitable is important. You need to determine whether your revenue is higher than your expenses, and whether you are actually making a profit. Profit and loss statements help you to figure out if you’re in the black or in the red.
A profit loss statement includes three main sections: expenses, revenue and net income.
Revenue refers to money coming in. This is what people (clients or customers) are paying you. Expenses are costs associated with operating your business. That’s what you’re paying other people and businesses. Net income is the difference between these two numbers.
If you subtract your expenses from your income, that is your profit. Whether you have a positive or negative balance lets you know if your business is profitable.
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With the mobile app and cloud storage, you can access your business’s accounting information from anywhere, as long as you have a wifi connection.
Send invoices, collaborate with your team and automate your P&L statements with FreshBooks.
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Get Your Free P&L Template From FreshBooks
How Do I Create a P&L?
Ready to create your P&L with the template from FreshBooks?
Choose a Format
Decide which profit and loss template format you’ll use.
Download the Template
Download your free profit and loss template from FreshBooks in seconds.
Add your revenue numbers in the appropriate field.
Input all of your business expenses.
Calculate Net Income
Subtract your expenses from your revenue to calculate net income.
When net income is positive, your business is profitable. If it’s negative, you’re operating at a loss.
Additional Free Bookkeeping Resources
If you are looking for all of the accounting templates you’d ever need, you’re in luck. FreshBooks has created templates for all sorts of financial reports to help you manage your accounting with ease.
Frequently Asked Questions
What is the difference between a profit and loss statement and an income statement?
The only difference between a P&L statement and an income statement is the name. They report the exact same information. Both are valuable when it comes to tracking your business revenue, expenses, and profit.
How often should I generate a profit and loss statement?
It is up to you how often you should create a P&L statement. However, most businesses generate a report but monthly, quarterly and annually.
What is included on a profit loss statement?
A P&L statement include your business revenue, business expenses, net revenue and profit. By subtracting your expenses from your net revenue, you’re able to see whether your business is profitable.
How do you calculate net revenue on a profit and loss statement?
To calculate the net revenue, you subtract the expenses from your revenue. A positive net revenue signifies profit, and a negative number signifies loss.
Does the FreshBooks accounting software generate PL statements?
Yes. The FreshBooks accounting software automatically generates profit and loss statements for you. Beyond that, you can send invoices to clients online, access your dashboard on the go and take advantage of the range of FreshBooks accounting features.
Why Create P&L Statements with FreshBooks?
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