Profit & Loss Statement in Google Sheets in Under 15 minutes! Tutorial & Free Template
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- Опубликовано: 30 июл 2024
- Here's a quick tutorial on how to take some basic monthly numbers and turn it into a profit & loss statement.
You can download the finished template here: bit.ly/3x38ahE
Once you've watched this video, check out our Part 2 video, where we cover using other tabs to record your income and expenses throughout the year: • Profit & Loss Spreadsh...
Or you can check out our black-and-white professional P&L statement tutorial video here: • Simple Way to Create a...
Small business owner here-- THANK YOU SO MUCH! I never learned to use excel and this just made my life soooo much easier.
So glad this was helpful!
This is the best video I have ever watched for anything bookkeeping related. Thank you💗💗💗
Awesome, so glad this was helpful!
Very Easy to follow. thank you so much for this!
Thank you for the feedback! Glad it was helpful!
my husband started his own business at the beginning of the year and i researched excel tutorials as an alternative for quickbooks. this was INSANELY helpful and was just what i needed. i’m not sure why people said you were too fast since you can easily adjust the speed settings. thank you thank you thank you for sharing your knowledge.
Awesome! So glad this was helpful for you!
i watched ONE of his videos and subscribed. LOL!
@@jawsstech So awesome, thank you!
@@SheetsNinja would it be easy to incorporate mileage? i know i need to add it in the settings tab, but what do i do from there? is there a simple way to add mileage each month and automatically multiply that number by 65.5 cents per mile?
Thank you so much! I was able to get it done!
Awesome! I'm glad this was helpful!
Thank you so much for the explanation & spreadsheet!
Glad it was helpful!
This is great! Thank you so much
Awesome! I'm glad this was helpful!
This was very helpful. Thank you.
Awesome! So glad this was helpful!
Hi thanks for your sheet, but i have question plz. Should we put the COGS that means ( First inventory + purchases. - End of Inventory)
Very helpful, thank you!
Awesome, I'm glad this was helpful!
Your sheets are fantastic! I had to keep rewinding because you're so fast! LOL! BUT! I got it done. Thank you so much! Thumbs up for being so nice with it though! :)
Awesome, glad it was helpful!
In case its helpfuk for you in the future, RUclips has a spot in video settings where you can speed up or slow down a video.
Thanks Man. You really are a spreadsheet ninja!
So glad this video was helpful for you!
Template setup starts at 1:08. P&L training starts at 5:00.
I’m sorry 😂 I’m doing accounting at work but 😢
We are a bbq restaurant
Sep sales $500k including sales tax(10%)
Cogs (food purchase) $100k
Payroll $90k
Rent $15000
Utilities $5000
Insurance $3000
Other operating cost $30k
Paid sales tax $20k (I don’t know why our cpa paid $20k not $50k since 10% sales tax, but anyway)
If I all deduct from revenue, is it our net?
My question is should I include a tab for paid sales tax to deduct as an expense?
Thank you and sorry for no knowledge 😅
I would suggest the most appropriate place to put the paid sales tax is up with COGS/Refunds, since it's more like a deduction not an expense. However, I'm not an accountant, so take that for what it's worth. :)
thanks very much for uploading
You're welcome! Check out my follow-up video if you want to build a more advanced version: ruclips.net/video/ER8EXlGdKQc/видео.html
@@SheetsNinja will do, thanks
@SheetsNinja would it be easy to incorporate mileage? i know i need to add it in the settings tab, but what do i do from there? is there a simple way to add mileage each month and automatically multiply that number by 65.5 cents per mile?
So you could have a row to enter the miles and then have another row and just use a formula where you use "=mileage cell*0.655"
Hi @sheetsninja, I greatly appreciate your video, it's been incredibly helpful! I have a question: when I attempt to add the labels for the months to the graph at the very end, clicking on Tt C6:06 doesn't yield any action. Could you please provide some guidance on how to make it identify or select it correctly?
Charts can be a little finicky, if you remove and readd the ranges and the series that often helpels.
@@SheetsNinja It worked! Thank you
@sheets ninja any possibility of you making what you created a downloadable templet?? your mouse movements were way too quick to follow sadly. it would be much appreciated !
I just added a link to the template in the video description. Thank you for watching!
I’m going to make this at work tomorrow. I think this simple way is better.
So gross revenue means gross sales including sales taxes? And cogs means purchase to resale. Right?
We have a restaurant so
Yes, gross revenue would include sales tax, and then obviously you need to deduct that on the expenses side.
COGs means cost of goods, so typically this is when individual products are for sale. For a restaurant, you are combining the food items you are purchasing into new products, so in my book, the food you purchase would be a regular expense item.
@@SheetsNinjathis is so amazing. I’m copying your video.
We are a restaurant.
Revenue is total sales + sales tax , correct?
So for example, let’s say our Sep revenue is $50k
Revenue is sales + sales tax
And we pay back city sales tax which is $5k.
Then when I followed your sheet for revenue, should I put revenue 50k, cogs/refund, payroll, rent, utility, insurance, operating other cost and paid sales tax ?
@@SheetsNinjathank you so much! Algorithm let watch your lesson and I’m so glad ❤
Absolutely! If you're struggling with what expenses you have, you can go through your bank and credit card transactions for a single month and just pay attention to the debits and keep a list of what category each one falls into to make sure you account for everything.
@@SheetsNinjathank you so much. Always struggling. 😂
I just posted a new question. If you can, could u answer me?
Why make the template only available in PDF? Isn't supposed to be an XLSX file for editing in excel? Love what you did here but not sure how to get it done that fast and was hoping to just input my data in the template.
The template link is a Google Sheet.
How can I apply a 30% reduction formula to each cell without doing it individually?
If you want the reduction to show up in each cell, you would need to add it into the formula for each row and copy it across the months. But if you think this percentage may change later, I would recommend using another cell to set that percentage and than reference that cell for the reduction formula.
Why i can not put the month on the x axis?
Charts can be a little finnicky, as once you select the data, Google is trying to automatically interpret the data, and that doesn't always work correctly. I would recommend deleting the chart that isn't working and selecting the data again to create the chart. If you use the top header as the top of the data and the row titles as the left-hand bound, Google should pick it up.
is this template still available?
There is a link in the video description where you can download the finished template. Thank you for watching!
thanks!@@SheetsNinja
Maybe there’s something wrong with me because for the life of me I can’t seem to get what he’s doing. Or maybe he’s moving way too fast for this to be a tutorial
Hey there, I'm sorry you're having trouble following the tutorial. If you go to the video settings, you can slow the video down, another thing I do when I'm watching tutorial videos is watch a bit, pause it while I go through it, and then keep going. Hope that helps!
Would have been better slowed down a bit. 😢
There is a speed setting on the lower right of the video where you can speed or slow down the video.
🙈😂😂😂😂 speed of him is unreal. Stopped watching after he made the box🙄
So you can adjust the speed on the video down if you want, but I also added a link to the final product as well, so you can check it out.
Wat to fast LOSS ME IM GONE
Sorry about that! In the video settings, you can set the speed slower if you want to try to keep up, otherwise you can try downloading the finished template (link in the video description.
Looked impressive, but there is very much an assumption you know how to format with Sheets. I don't!
Sorry about that! Tried to walk you through as much as possible. There is a link to the final template in the description.
I have a video that covers how to do a lot of formatting in this video: ruclips.net/video/I9hOzfKi5aE/видео.html
@@SheetsNinja I watched part 2 as well. I will check out the template video. I need to learn, thank you
THUMBS DOWN! too fast... have to slow it down when explaining and training. Awful presentation
Thank you for your feedback!
Rude way to thank his hard work?
@Chris Boughnou it's called constructive criticism, mind your business
Sounds like you can’t take any “ constructive “ criticism
@Chris Boughnou if I was posting to "help" others and someone points out my shortcomings, I'd gladly take them and work on them. Mind your business