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Free P&L Statement Template

Last updated: 2026-03-31

Create a professional profit and loss statement for your small business. Enter your revenue and expenses — the template auto-calculates gross profit, net income, and profit margins. Download as PDF, 100% free, no signup.

Quick start with industry template:

Revenue

0.00
$

Cost of Goods Sold

0.00
$

Operating Expenses

0.00
$
$
$
$
$

Other Expenses

0.00
$
$

Profit & Loss Summary

Total Revenue0.00
Cost of Goods Sold-0.00
Gross Profit0.00
Gross Margin: 0.0%
Operating Expenses-0.00
Operating Income0.00
Other Expenses-0.00
Income Before Tax0.00
Tax Estimate (21%)-0.00
Net Income0.00 (0.0%)

How to Use This P&L Statement Template

This free P&L statement template helps small business owners create a professional income statement in minutes. Enter your company name and reporting period at the top, then fill in your revenue and expense line items. The template automatically calculates gross profit, operating income, tax estimates, and net income with real-time margin percentages.

Every calculation runs entirely in your browser — no data is sent to any server. Your information is saved locally so you can return and pick up where you left off. When you're ready, download a clean PDF for your records, lender, or tax preparer.

The template uses standard accounting categories: Revenue, Cost of Goods Sold (COGS), Operating Expenses, and Other Expenses. You can add, remove, or rename any line item to match your chart of accounts. The effective tax rate is adjustable to match your federal + state combined rate.

Frequently Asked Questions

What is a P&L statement?
A Profit and Loss (P&L) statement, also called an income statement, summarizes your business revenues, costs, and expenses over a specific period. It shows whether your business made a profit or took a loss. Key line items include revenue, cost of goods sold (COGS), operating expenses, and net income.
Is this P&L template really free?
Yes, 100% free with no signup, no email gate, and no premium tiers. All calculations happen in your browser — no data is sent to any server. You can create unlimited P&L statements and download them as PDF.
Do you store my financial data?
No. Your data stays in your browser's localStorage for convenience (so it reloads when you return), but nothing is ever transmitted to our servers or any third party. You can clear it anytime.
How do I read a P&L statement?
Start from the top with Revenue, subtract Cost of Goods Sold to get Gross Profit, subtract Operating Expenses to get Operating Income, account for taxes, and the bottom line is Net Income. The gross margin tells you how efficiently you produce, and the net margin tells you overall profitability.
What tax rate should I use?
The effective tax rate for most US small businesses ranges from 15% to 30%, combining federal (~21% corporate or individual rates) and state income taxes. Consult your CPA for your exact rate. The default of 21% is the federal C-corporation rate.
Can I use this for quarterly or monthly reporting?
Yes. Change the Period field to any timeframe: a month, quarter, or full fiscal year. The template works for any period.
What's the difference between COGS and Operating Expenses?
Cost of Goods Sold (COGS) are direct costs of producing what you sell — materials, manufacturing labor, inventory. Operating Expenses are indirect costs like rent, marketing, insurance, and administrative salaries. Gross Profit = Revenue minus COGS.
Who is this tool for?
Small business owners, freelancers, sole proprietors, LLCs, and S-Corps who need a simple, professional P&L statement for planning, lender requirements, or tax preparation. Maintained by Ran Chen, an Enrolled Agent and Certified Financial Planner.

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