Free Profit and Loss Statement Template (Excel & Google Sheets)
This is a free Profit & Loss statement template for Excel and Google Sheets. It includes 12 months plus totals, Schedule C-aligned categories, and auto-calculatingsubtotals and net profit — with a blank tab to fill in and a filled example tab to follow. It's free, with no email required.
Works in Excel and Google Sheets (File → Import in Sheets). No signup, no email.
How to fill it out
- Pull your bank statements. Gather your business bank and credit-card statements for the period you want to report on — usually one month per column.
- Enter your monthly income by category. Type each month's revenue into the income rows. Use separate rows for distinct income types (product sales, services, etc.) if it helps you.
- Enter your monthly expenses by category. Fill in expenses under the Schedule C-aligned expense categories. Skip transfers, owner draws, loan principal, and credit-card payments — those don't belong on a P&L.
- Review the auto-calculated net profit. The totals and net profit rows calculate automatically as you type. Check that the numbers tie to your statements.
- Label it cash basis and note the period. Add your business name, the period covered, and a 'cash basis' label at the top so anyone reading it knows exactly what they're looking at.
Using this template as a self-employed borrower
If you're applying for a loan or mortgage, lenders typically want a year-to-date P&L plus the prior full year, and they'll expect it to be consistent with your bank statements and tax returns. Keep your categories clean and your totals tied to your deposits. For the full rundown of what underwriters look for, see our guide to a profit and loss statement for a loan application.
When the template isn't enough
The template is genuinely enough for many people. If you have hundreds of transactions or need it lender-ready today, ForProfit.io builds the same statement from your uploaded bank statements automatically — the AI categorizes every transaction, you review, and you download a professional P&L in minutes. It's free for your first statement.
Frequently Asked Questions
Is this template really free?
Yes — it's completely free with no email required. Download the Excel file, use it however you like, and share it. There's no signup, no watermark, and no trial.
Does this template work in Google Sheets?
Yes. Download the .xlsx file, then in Google Sheets choose File → Import → Upload and select the file. The formulas and the auto-calculating totals carry over.
What categories should I use?
The template uses categories aligned to the IRS Schedule C expense lines, which is what most self-employed people and sole proprietors file. That makes tax time far easier because your P&L already maps to the form. You can rename or add categories to fit your business.
Is a template enough for a mortgage or loan application?
Often yes. Most lenders accept a self-prepared P&L for a self-employed borrower as long as it's accurate, clearly categorized, and consistent with your bank statements and tax returns. Some programs want a CPA-prepared statement — ask your loan officer what theirs requires.
Is this template cash basis or accrual?
It's built for cash basis — you enter income when money lands and expenses when money leaves, straight from your bank activity. That's the method most small businesses use and what most CPAs expect for tax prep. If you keep accrual books, you can still use the layout but you'd enter accrual figures.