Profit & Loss Statement Generator
A profit and loss statement is revenue minus cost of goods sold and operating expenses. Build yours free and export a clean PDF.
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Quick answer · Updated 2026
A profit and loss (P&L) statement, also called an income statement, shows whether a business made money over a period. Start with revenue, subtract cost of goods sold to get gross profit, subtract operating expenses to get operating income, then subtract interest and taxes to get net income. This generator builds that layout in your browser and nothing is uploaded.
| Line | How it is calculated |
|---|---|
| Revenue | All sales for the period |
| Gross profit | Revenue minus cost of goods sold |
| Operating income | Gross profit minus operating expenses (rent, payroll, marketing) |
| Net income | Operating income minus interest and taxes |
Sources: U.S. Small Business Administration guidance on financial statements; IRS Schedule C expense categories for sole proprietors. Researched general information, not financial, tax or legal advice.
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Common questions
What is the difference between a P&L and a balance sheet?
A P&L covers a period of time and shows revenue, expenses and profit. A balance sheet is a snapshot on one date and shows assets, liabilities and owner's equity. Lenders usually ask for both.
Do I need a profit and loss statement for a business loan?
Usually yes. SBA and bank lenders typically ask for a year-to-date P&L plus the last two to three years of statements or tax returns, alongside a balance sheet and a personal financial statement for each owner.
How often should a small business prepare a P&L?
Monthly is the common practice, because it shows problems while there is time to act on them, with a quarterly and annual statement for taxes and lenders.
