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Top 10 Profit and Loss Statement Excel Template Download 2024

September 22, 2022
10.9K Views

The profit and loss statement Excel template is easy to use and can be adapted to any business in a few minutes, even if you don't have a degree in accounting. With this profit and loss statement template you can add up your bank income and expenses and calculate your operating profit for a given period. These templates can be downloaded for free and also include formulas. These templates are free to download and also include formulas, such as those provided by WPS, which are commonly used by users.

Below are the best free online top 10 profit and loss statement Excel template.

Part 1 Top 10 Profit and Loss Statement Excel Template Download 

1.Store Profit and Loss Analysis Table

This template is used for multiple purposes as shown in the image above. It is easy to manage expenses for food, vacation and transportation with this template.

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2.Blue Sales Profit Analysis Chart

Personal Monthly Income and Expenses template is used by organizations as well as for personal use. This easy to use template is provided by WPS and can also be downloaded for free.

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3.Non Profit Balance Sheet Statement

The WPS Income and Expenditure List template includes all the details, such as the information about the items, their costs and accounts. Finally, it shows the overall balance of the template.

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4.Blue Cost Profit Budget

The income and expense list is generally used by the organization and also for personal use. It also takes into account the cash of all members individually.

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5.Sale Profit Sheet

This sheet is useful for creating a list of monthly expenses and income. If this is not done with a template, daily or monthly expense and income lists have to be prepared, which is very hectic due to the demands of the organization.

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6.Blue and Green Inbound and Outbound Form

Every organization needs to manage things on daily and monthly basis; this WPS template makes it much easier for users to accommodate the details in a short time.

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7.Profit and Profit Distribution Table

It is a hectic task to keep track of daily income and expenses of a household. With this template, it's a matter of minutes. It includes projected and actual profit margins and expenses.

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8.Fresh Green Profit Estimate Chart

When running a business, profit and loss analysis is very important as gross profit or loss can be easily calculated.

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9.Profit Financial Management System

In any business, goods are moved in and out every day. Despite preparing daily reports, it is very important for businesses to prepare monthly reports as well.

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10.Blue and Red Outbound and Inbound Form

Keeping track of daily income and expenses of a household is a hectic task. With this template, it is a matter of minutes. It includes projected and actual profit margins and expenses. An example of a monthly profit and loss template in Excel can be found above.

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The WPS profit and loss statement Excel template in WPS is a great alternative to creating a profit and loss template spread sheet from scratch. The Internet is full of templates, and if none of them suits your needs.

Part 2: Components of Profit and Loss Statement


Component

Description

Revenue

The total income generated from the sale of goods or services

Cost of Goods Sold (COGS)

The direct costs associated with producing or delivering the goods or services

Gross Profit

The difference between revenue and COGS, indicating the profitability before considering expenses

Operating Expenses

The costs incurred in running the day-to-day operations of the business

Operating Income

The result of subtracting operating expenses from gross profit

Non-Operating Income

Additional income not directly related to the core operations of the business

Non-Operating Expenses

Additional expenses not directly related to the core operations of the business

Net Income

The final profit figure after accounting for all revenue, expenses, and taxes


Understanding these components is vital for analyzing the financial performance of your business.

Part 3: Two Methods To Prepare Profit And Loss Account

Here are the two methods to prepare a Profit and Loss Account statement:

1. Single Step Statement

A single-step statement is a simplified method used by small companies to prepare an Income Statement. It involves taking the total amount of revenues and subtracting them from the total expenses to determine the gain or loss made by a business. The formula for calculating the profit or loss using the single-step method is:

Net Revenues - Total Expenses = Net Profit or Loss.

This method eliminates the need for categorizing revenues and expenses into separate sections and provides a straightforward calculation of the overall financial performance. It is widely used due to its simplicity and ease of understanding, making it suitable for businesses with less complex financial structures.

2. Multiple-Step Statement

A multiple-step statement is a method commonly used by large-volume companies to prepare the Income Statements. It involves several steps to analyze and present the financial performance of a business in a more detailed manner. Here are the steps involved in the multiple-step method:

  • Calculate Gross Profit: This step involves subtracting the cost of goods sold (COGS) from the total revenues to determine the gross profit.

  • Total Operating Expenses: Group all the operating expenses together, such as salaries and wages, utilities, software, research and development, and other related expenses.

  • Deduct Operating Expenses from Gross Profit: Subtract the total operating expenses from the gross profit calculated in the previous step to obtain the income from operating activities.

  • Deduct Additional Expenses: Subtract any non-operating expenses, such as taxes, interest expenses, or any other expenses not directly related to the core operations of the business.

  • Calculate Earnings Before Investments & Taxes: The result of the previous step gives you the earnings before investments and taxes (EBIT).

  • Deduct Taxes: Subtract the taxes from the EBIT to arrive at the net income or net loss for the period.

The formula to calculate the profit or loss by the multiple-step method is as follows:

Revenues - Expenses - Taxes = Net Profit or Loss

In this formula, revenues include various sources such as sales revenue, service revenue, interest revenue, and other revenue. Expenses consist of all operating expenses, cost of goods sold, research and development expenses, salaries and wages, software expenses, travel expenses, utilities, web hosting and domains, and other miscellaneous expenses.

The multiple-step method provides a more comprehensive breakdown of the financial performance by categorizing revenues and expenses and considering various components of the business operations.

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FAQs

Q1: How to calculate profit in Excel

Calculating profit in Excel can be done using a simple formula. Subtract the total expenses from the total revenue to obtain the profit. You can use the formula "= Total Revenue - Total Expenses" in an Excel cell to calculate the profit.

Q2: What is the difference between a balance sheet and a P&L?

A company's financial health is shown through its balance sheet and P&L statement. A company's balance sheet reveals its current assets, liabilities, and equity. An income statement, or P&L statement, summarizes revenue, costs, and net gain or loss during a period. The P&L statement stresses financial performance, whereas the balance sheet emphasizes financial position.

Q3: What is the typical structure of a P&L income statement?

A typical P&L income statement provides a comprehensive view of a company's revenues, expenses, and net income or loss. It includes sections such as revenue, cost of goods sold (COGS), gross profit, operating expenses, operating income, non-operating income and expenses, taxes, and net income.

Summary of profit and loss account format in Excel

The use of Excel templates for profit and loss statements can greatly simplify financial management for individuals and businesses. Whether you're a small company looking for a straightforward single-step statement or a larger organization needing a multi-step approach, these templates provide a structured framework for accurate calculations and analysis.

One standout solution for accessing free profit and loss templates is WPS Office. With its user-friendly interface and an extensive collection of pre-designed templates, WPS Office offers a convenient platform to create, fill out, and manage profit and loss statements seamlessly. Whether you're tracking monthly expenses, analyzing sales data, or assessing the financial performance of your business, WPS Office provides the tools you need to streamline your financial management process.

15 years of office industry experience, tech lover and copywriter. Follow me for product reviews, comparisons, and recommendations for new apps and software.