Profit & Loss Template for Small Business Owners

A P&L (Profit and Loss) template is a financial tracking tool that allows you to record and monitor your business's revenue and expenses. It can help you understand your business's financial performance and make informed decisions about budgeting, forecasting, and planning. It also serves as the basis of tax preparation.

Our P&L Template and Dashboard are best suited for small business owners who are sole proprietors or LLCs (not S or C Corporations) who are looking to simplify their bookkeeping and avoid ongoing software fees.

It may not be suitable for those with over 500 transactions a month or who have more advanced needs, like a balance sheet or inventory tracking.

Yes, our P&L template is customizable, so you can tailor it to your business's specific needs. Please be aware that some of the templates will be locked down in order to prevent accidental data integrity issues. We provide you with a starting chart of accounts, however, you are able to customize it to include more specific income and expense accounts to your needs.

Yes, we provide detailed instructions and a video walkthrough on how to use the P&L Template and Dashboard to get the most out of the tool.

Yes, our P&L template and dashboard are compatible with both Excel and Google Sheets. Make sure to save your progress somewhere you will remember it so you don’t lose it!

Our P&L Template and Dashboard are built with simplicity in mind and designed to be user-friendly and straightforward. You can quickly and easily create a P&L and analyze your data using the Dashboard, making it easy for small business owners to understand their financial data. It is also affordable and customizable, allowing you to tailor it to your business's specific needs.

Often, when there are issues, something might have gotten accidentally modified (i.e., a formula was skewed, a row was deleted, etc.) in your file that might be impacting the calculation. In this case, it is best practice to re-download the file and start from there. 

The P&L Template and Dashboard comes with a detailed video tutorial that answers a number of questions, as well as a tab for frequently asked questions within the template. 

We recommend updating the P&L template and dashboard on a monthly basis to ensure that your financial data is up to date.

No spreadsheet savviness required, that's what we’re here for! We have simplified the process to make it completely plug-and-play and provide help and tutorials along the way! While you don't need advanced skills, a basic understanding of Excel or Google Sheets will be helpful. 

You’ll be able to see a Monthly and Year-to-Date P&L. Additionally, the Dashboard will show you charts and graphs illustrating the following:

1) Revenue by Month,

2) Expenses by Month,

3) Revenue by Category,

4) Top 5 Expenses,

5) Profit (Loss) by Month, and

6) Profit by Quarter

If you already own our programs like the Ultimate Getting Ready for Taxes and/or Financial Fitness™ Basics, then you already have access to a P&L template, tutorial, and additional educational resources and videos to help you track your numbers. However, this P&L template has been enhanced with extra rows, more customization, and the new Financial Dashboard. 

We teach people to be smart with their money. The least we can do is be smart with yours. If something you buy from us isn't the right fit, just say the word. No interrogation. No jumping through hoops. No awkward breakup conversation.

Here's how it works: email us at [email protected] within 90 days of your purchase before the review phase or your report and we'll process your refund back to your original payment method. That's it. That's the whole policy.

If you're willing to share what wasn't working, we genuinely want to hear it — not because we require it, but because we use that feedback to make things better.

We're confident in what we've built. And if it turns out it's not right for you, we'd rather you keep your money than feel stuck with something that isn't helping you move forward. For more information, see our full terms and conditions.

Per our Terms and Conditions, this worksheet is not for commercial use. If you'd like to use it commercially with your clients or wish to become an affiliate for this product, please contact us at s[email protected], and we can discuss options!

When you purchase the spreadsheet via this page, you are agreeing to use it for individual use ONLY, and use with clients is therefore a violation of these terms. You can review the full terms here: https://learn.jamietrull.com/program-terms-and-conditions  

Yes! Financial Professionals love it when their clients bring them all their numbers, organized in our spreadsheets! We hear so much feedback about the high praise buyers receive at tax time for having all of their information neatly organized. It can also be shared for other purposes, like obtaining a mortgage or other loan.