Excel Profit and Loss Statement Template

More often than not, large companies have special accounting departments that keep track of their finances and handle the financial statements that need to be delivered to the national or local fiscal authority. However, small business managers cannot afford to work with specialized services or hire an account and hence, prefer to handle the bookkeeping by themselves.

Excel Profit and Loss Statement Template is a tool designed for the later category and that enables you to prepare a proper financial statement for your business. Take note that the template is part of an integrated  accounting system specially designed for trading/retail companies. Consequentially, if your line of work entails other fields, then it may not be able to find all the elements you need.

Nevertheless, it works in a similar way to a balance sheet or cash flow statement, meaning that you can type a summary of the company's transaction directly into the template. As you would expect, you can define the categories related to the account codes along with the financial data, while the Excel generates the numbers.

Overall, the idea behind the tool is to help you find out the total tax to be borne, have a history of the profit and gains on regular intervals as well as determine the profitability of your business.