The template generates a dynamic automated Profit and Loss Statement, also called an Income Statement. 

The Category we picked when entering the financial transactions in Transactions sheet are key to this. 




The template calculates profit using the following formulas


  • Gross Profit = (Income – Cost of Sales)
  • Operating Profit = (Gross Profit – Operating Expense)
  • Net Profit = (Operating Profit – Other)


Here is a screenshot of the Profit & Loss Statement. 


The statement shows the subcategories as well. There can be up to 33 sub categories. Total number of lines in Profit & Loss Statement is 40. 7 are taken for the subtotals in fixed lines: 1. Income, 2. Cost of Sales, 3.Gross Profit, 4. Operating Expense, 5. Operating Profit, 6. Other, 7. Net Profit. 

You can also view the trends of the key metrics in a chart.

A screenshot of a cell phone

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From the drop-down, you can choose one of the 7 metrics to display on chart.

The  template supports 12 periods at a time in the display. It could be 12 months, 12 quarters or 12 years. 

You can control the start date and the periods - as shown below.