Profits and losses reporting on a budget

Free download for a business budget tracking document

You may have seen the social content planner and the digital budget tracker in the On A Budget series of Excel and Sheets workbooks I’ve been writing. This time we’re going to present a cost-effective way to track overall company income and expenses with an auto-tabulated summary in the header cells. The formula in the header uses a fairly simple SUMIFS() statement to look through your profits and losses, tallying a sum for the desired month.

There are many P&L templates out there that people can choose from. Why is this a better solution? In my opinion, this works well for small business owners and freelancers who are looking to track money coming in and going out without the need to purchase expensive accounting software. Many other templates are either too complicated or too broad, and this one maintains a good balance.

As a business owner, I often struggle with determining how much of my earnings I need to set aside for paying quarterly tax estimates. This document keeps track for me and tells me exactly how much I should be paying based on the percentage in the far-right of the header. In general, I like to set aside 30% of my earnings for tax purposes, though I know some people set aside more and others set aside less.

I’ve thrown in some sample data into the template so you can see the fields in action, but feel free to duplicate this template to your own Drive and try it out for yourself!

View in Google Sheets

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