Year to Date Profit and Loss Statement Template

Whether your business sells goods or provides services, a profit & loss statement can help you gauge how well (or not) it has been performing and predict how things are most likely to go in the future.

What is a Year-to-Date (YTD) Profit & Loss Statement?

The profit and loss statement, also referred to as the income statement, is one of the most important financial reports for any company, regardless of size, type, or industry. It provides a detailed rundown of your business’ revenues and expenses, so you know whether you’re making a profit or spending more than you earn.

Profit and Loss Statements are usually created on a monthly, quarterly or annually, but a year-to-date profit & loss statement is more suitable for those who wish to track their progress over time.

A YTD Profit & Loss Statement records your business’ revenues from the beginning of the current year up to a specific date before the year-end and indicates how the revenue is transformed into the net income.

Creating a YTD Profit & Loss Statement from scratch takes a lot of work. Why not make your life easier by using a Profit and Loss template to monitor your company’s income and expenses?

This Year-to-Date Profit and Loss Statement Template for Excel will save you plenty of headaches.

Download the template here.

The Excel Year-to-Date Profit & Loss Statement Template

The Year-to-Date Profit and Loss Statement template is composed of three worksheets: Profit and Loss, Revenue, and Operating Expenses.

Each of these sheets and their contents is explained in detail below.

  • Sheet 1: Profit and Loss

    The Profit & Loss sheet shows your monthly income before and after taxes (net income) and your YTD profit & loss as the year progresses.

    There are four important categories that go into calculating the net income:

    1. Income from Operations
    2. Interest Income
    3. Income Before Income Taxes
    4. Income Tax Expense

    Income from Operations is the difference between Gross Profit (Revenue Sheet) and Total Operation Expenses (Operation Expenses Sheet).

    Interest Income consists of any interest expense you paid for loans taken from banks.

    Income Before Income Taxes is the difference between Income from Operations and Interest Income.

    Income Tax Expense is the amount of tax you paid based on your income.

    Your Net Income is calculated by subtracting Income Tax Expense from Income Before Income Taxes.

    Your total Year to Date profit or loss is on the right-most corner of the Profit and Loss Sheet.

  • Sheet 2: Revenue

    The Revenue Sheet displays your Gross Profit for each month and your YTD profit as the year progresses.

    The Gross Profit is calculated by subtracting the Cost of Goods Sold from the Net Sales.

    The Net Sales is your Total Sales + Other Revenues minus Sales Returns and Sales Discounts.

  • Sheet 3: Operation Expenses

    The Operation Expenses Sheet shows your Total Operation Expenses for the month and your YTD expenses as the year progresses.

    It includes all the necessary and regular expenses that your business incurs every month, from employee salary and wages to advertising costs.

    The sheet is fully-customizable, so you can adjust the list and add other expenses that apply to your operations.

How to Use

It’s very easy to determine your monthly and YTD profit & loss using the template. Like many Excel templates, the process is very direct and simple.

All you really have to do is enter the required monthly figures in the Revenue Sheet and Operation Expenses Sheet, and leave it to the template to calculate the total Income from Operations.

You will also have to supply the figures for Interest Income and Income Tax Expenses in the Profit and Loss Sheet.

Remember to enter amounts for Sales Reduction and Sales Discount in the Revenue Sheet in negative (-).

Interest Income in the Profit and Loss Sheet is an expense and should also be negative(-).

The template will calculate the Monthly Net Income and YTD Net Income based on the amounts you have provided.

Benefits of Using Excel for Calculating Year-to-Date Profit & Loss

  • Excel is one of the most versatile accounting tools out there. It is the perfect business finance solution for businesses in the initial growth phase because it’s both user and budget-friendly.
  • Like the Year-to-Date Profit and Loss Template, most Excel templates for generating financial reports and statements can be downloaded online for free.
  • One of the best things about Excel spreadsheets is that they allow users to tabulate and compare data between different periods. You can use it to evaluate your business’s performance over time.
  • Excel also has an abundance of built-in functionalities for performing both basic and advanced calculations. IF statements, the SUM function, and the LOOKUP function are just a few of the countless Excel features that make financial reporting and accounting a much more convenient process.
  • Excel takes things a step further with its conditional formatting feature that you can use to highlight variances and trends.
  • Modify the template to include your company name and logo to create professional-looking documents that you can share anytime.
  • On top of it all, Excel lets users create and insert graphs and pie charts into the spreadsheet for a quicker and more comprehensive view of your income and expenses, your profits and losses.
  • Whatever type of business you operate, you’ll find the Year-to-Date Profit and Loss Statement template easy to use and configure — no accounting degree necessary.

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