Free Excel template · Excel for small business

Free small business profit and loss template

For owners who want a monthly P&L they understand without opening accounting software. Type each income and cost line with its type (Revenue, COGS or Expense) and the template totals them with SUMIF, works out gross and net profit and both margins, and shows what changed since last month and what share of revenue each cost eats.

cellwise-small-business-profit-and-loss.xlsxExcel workbook · 4.7 KB · works in Excel, Google Sheets, Numbers and LibreOffice · no signup

Download free template

Preview and try it

This is the template's sheet, calculated by the same engine as the Cellwise app. Change any number to see the formulas react before you download.

	A	B	C	D	E	F
1	Line	Type	Last month	This month	Change	% of revenue
2	Product sales	Revenue	18400	21250	2850	0.88174273859
3	Service and workshop income	Revenue	3200	2850	-350	0.11825726141
4	Materials and stock	COGS	6900	7650	750	0.31742738589
5	Shipping and packaging	COGS	1240	1410	170	0.058506224066
6	Card and payment fees	Expense	640	705	65	0.029253112033
7	Rent	Expense	2200	2200	0	0.091286307054
8	Wages	Expense	5800	6100	300	0.2531120332
9	Marketing and ads	Expense	900	1350	450	0.05601659751
10	Software and subscriptions	Expense	185	185	0	0.0076763485477
11	Insurance	Expense	240	240	0	0.0099585062241
12	Utilities and phone	Expense	310	295	-15	0.0122406639
13	Other	Expense	150	420	270	0.017427385892
14
15	Summary		Last month	This month	Change
16	Revenue		21600	24100	2500
17	Cost of goods sold		8140	9060	920
18	Gross profit		13460	15040	1580
19	Gross margin		0.62314814815	0.62406639004	0.00091824189335
20	Operating expenses		10425	11495	1070

How the formulas work

Total each section with SUMIF

D16=SUMIF($B$2:$B$13,"Revenue",D$2:D$13)

SUMIF adds the This month column only on rows whose Type is Revenue. The same formula with "COGS" and "Expense" fills rows 17 and 20. Because the totals look at the Type column, you can add, reorder or rename lines freely: just type the right Type next to each one.

Gross margin

D19=IF(D16>0,D18/D16,0)

Gross profit (revenue minus cost of goods sold) divided by revenue. It tells you how much of each sale is left to pay for rent, wages and everything else. The IF stops a #DIV/0! error in a month with no revenue yet.

Net profit

D21=D18-D20

Gross profit minus operating expenses. In the sample, revenue grew $2,500 but net profit only $510, because materials, wages and marketing grew too. Spotting where the extra money went is exactly what a P&L is for.

Each line as a share of revenue

F9=IF(D$16>0,D9/D$16,0)

Dividing every line by revenue makes months of different sizes comparable. Wages at 25% of revenue means the same thing in a slow month and a busy one. The $ before 16 locks the revenue row so the formula copies down the column.

A one-line summary

A24

=IF(D21<0,"Loss of "&TEXT(-D21,"$#,##0")&" this month","Profit of "&TEXT(D21,"$#,##0")&" this month, "&TEXT(D22,"0.0%")&" of revenue")

TEXT turns numbers into formatted text so they read well inside a sentence. Paste this line into a message to a partner or your bookkeeper.

Make it yours

Cost of goods sold means costs that rise with each sale: materials, stock, packaging, shipping you pay for. Rent and software stay as Expense even in a busy month.
Make a copy of the sheet each month (right-click the tab > Move or Copy > Create a copy), move This month into Last month, and type the new figures.
Insert new lines inside rows 2 to 13 (right-click a row > Insert) so the SUMIF ranges grow with them.
This is a management view of your numbers. For tax filings, use the categories your accountant or tax software asks for.

FAQ

What is the difference between gross profit and net profit?

Gross profit is revenue minus the direct cost of what you sold. Net profit also subtracts operating expenses like rent, wages and marketing. A business can have a healthy gross margin and still lose money if overheads are too high.

Is a profit and loss statement the same as cash flow?

No. A P&L counts sales when you make them and costs when you incur them. Cash flow counts money when it actually moves. You can be profitable on paper and still run short of cash if customers pay late or you buy stock ahead of a busy season.

Does this P&L template work in Google Sheets?

Yes. Upload the .xlsx to Google Drive and open it with Google Sheets. SUMIF, IF and TEXT work the same way there.

Functions used

Related guides

More free templates

Updated November 2, 2026