PROFIT & LOSS
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.
- COST OF SALES
- OPERATING EXPENSE
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.
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.