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Using this profit and loss template
This P&L statement template comes with a how-to guide that includes an example of how to fill one out. In short, you’ll add in your revenue then subtract your expenses to find out your profit (or loss).
What a P&L statement will tell you
A profit and loss statement will show how much money a business is making. It can also help you calculate profit margins, which show how good the business is at converting revenue into profits.
Disclaimer: Xero does not provide accounting, tax, business or legal advice. This template has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business.
Make profit and loss statements better
Software can crank out P&Ls painlessly. Set up Xero to capture your financial data and it will create a report whenever you need one.