Welcome back to this video. In this video, I am going to show you how to create a P&L statement using Microsoft Excel. All we need to do is open a new sheet in Microsoft Excel. I am going to row 2 and merge and center cells B to H. I am going to put in something like "Profit and Loss Statement" and make it bold and underline it. After that, I am going to add the business name, which for this video, I will put as "B PFS - the name of my business". Next, I will do the same for Row 3, merging and centering cells B to H, and adding the date. For example, since today is June 16th, let's do our management accounts for May, so we can put "May 2015" as the date. Now, let's talk about the profit and loss statement itself. Just like its name suggests, it gives you a breakdown of your net profits, gross profits, net loss, or gross loss for a certain period, which in this case, is the previous month. We can start filling in the statement from cell B7. Let's put "Sales" in bold font. If you want to include more details, such as different categories or products, you can break down the sales for the month accordingly. For this video, let's use product categories. So, we can have "Sales - Product A" in one row, followed by "Sales - Product B" in the next row, and then "Sales - Product C" in the third row. Lastly, we can calculate the total sales by summing up the figures in these rows. Let's make the total sales bold and underlined to make it stand out. We can even use the spacebar to create a nice line underneath the total sales. Continue...
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Profit And Loss Statement Template For Self Employed excel Form: What You Should Know
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