Download the free profit and loss template
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Using this profit and loss template
This P&L 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 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.
Get help with your P&L
Profit and loss reports can be tricky. Missing off a cost or miscalculating income can really throw out your results. It’s a good idea to connect with an accountant or bookkeeper when filling out a template like this. You can find one in our directory.
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.
- Create up-to-date reports at the press of a button
- Format them the way you like
- Share them online with your accountant, bookkeeper, and business partners