🕷️ Crawler Inspector

URL Lookup

Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 15 (from laksa082)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa015.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.geekbooks.com.au/how-to-create-a-pl-statement/\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.geekbooks.com.au/how-to-create-a-pl-statement/\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.geekbooks.com.au\/how-to-create-a-pl-statement\/","crawl_time":1775745116,"first_indexed_time":1620136028,"http_code":200,"src_unparsed":"au,com,geekbooks!www,\/how-to-create-a-pl-statement\/ s443","src_root_hash":"10065483105356066815","history_drop_reason":null,"meta_title":"How to Create a Profit & Loss Statement (Step‑by‑Step)","meta_descriptions":["Learn how to create a profit and loss statement, what it shows, and how businesses use it for decision‑making."],"attrs_boilerpipe_text":"Keeping track of your finances is essential for any business, large and small. This is particularly vital for small companies, where individual sales and expenses can make far more of an impact on their profits and losses than they would in huge enterprise businesses.\nOne of the forms of reporting and documentation that should be top of your list of priorities is your profit and loss statement – also referred to as a P&L.\nWhether you’re new to business or you’ve been coasting by on less formal reporting in the past, using the proper tools can be a huge benefit to your company.\nWe’re here to talk you through what a profit and loss statement is, how to do one, and why they are so important to have. Read on now to find out all the details:\nWhat is a profit and loss statement?\nThe first stage in knowing how to create a P&L statement is knowing what a profit and loss statement is. As the name suggests, this form of report is a financial statement.\nP&L documents can be used to officially highlight the profits and expenses of your business in the past year.\nAt its most basic, a profit and loss statement lists a simplified version of your combined sales and combined expenses and provides a calculation of how much profit or loss your business is making currently.\nBusinesses are required to complete a profit and loss statement each year.\nIt’s good practice for companies of all shapes and sizes to be fully aware of their profitability and to have a good grip on their finances in general. Periodic P&Ls are the standard review that businesses must complete.\nWhy is a profit and loss statement so important?\nHaving a profit and loss statement is important for several reasons.\nFirstly, you’re required to complete one periodically – once per quarter – to prepare a Business Activity Statements and at the Financial Year End for your business tax return.\nIf you’re seeking funding through a lender, you’ll also need to have an up-to-date P&L statement, so they have a good idea of the health of your business, as well as projected Budgeted P&L with your projected profits and losses.\nPreparing a profit and loss statement is a relatively easy task if you have all the information to hand. Our steps on how to create a profit and loss statement below cover all you need to know to complete your first review:\nSet out the required categories\nAt their most basic, a P&L statement should be separated into four specific categories that are easy to view and understand at a glance. Whether you’re doing a first rough draft on paper or creating a spreadsheet, here are what your categories should look like:\nSales\nAny total Products or Services sold go in this category.\nCost of Goods Sold\nInclude all Purchases used in producing your sales items. Direct Costs, expenses associated in the producing your sale items.\nGross Profit\nThis item is the Total Sales less the Cost of Goods Sold, giving you the gross trading position of the business.\nExpenses\nAll your overhead business expenses, from accountant fees to insurance, rent to wages, is included under expenses. These can then be sub-categorised according to the kind of expenses they are – Motor Vehicle expenses, office expenses, marketing, and miscellaneous.\nTotal Expenses\nThis is the total of your expenses when added together.\nNet Profit\nYour net profit is calculated last and is your gross profit with all overhead expenses subtracted.\nDon’t worry about filling out everything yet – the first step is laying out those categories and having a basic understanding of what each one contains.\nGather all the necessary financial information\nOnce you’ve got everything laid out, it’s far easier to sort your expenses and profits into their specific columns.\nFor quarterly P&L statements, you should carefully go back through all recorded expenses and profits and add them individually into your statement.\nIf you’re carrying out a Budgeted P&L statement, you’re creating a projection of your income and outgoings.\nIt’s crucial that you divide these up in the same way you would for a periodic P&L statement to ensure the best accuracy possible.\nCalculate your income and expenses\nOnce you’ve filled out your first two categories, you can calculate both your total expenses and overall net profit.\nAdd together all your expenses to reach your total expense number, and then subtract this amount from the gross profit to access your net profit.\nUtilise your P&L insight for business needs and requirements\nOnce you’ve completed all sections of your profit and loss statement and you’ve double-checked its accuracy, you can then utilise your review for official purposes.\nThis includes filling out your tax return, as well as seeking lenders of investors for your business. An where to invest your monies to grow your business.\nDo I have to carry out profit and loss statements in-house?\nMany small businesses assume that P&L statements need to be carried out in-house.\nBut if you aren’t aware of how to write a profit and loss statement, or you’d like an expert opinion, working with a trained accountant is your best option.\nAs an essential quarterly report and review, P&L statements are vitally important – but learning how to make a profit and loss statement can take time away from other necessary business matters.\nWork with Geekbooks today to make P&L easy\nAs business finance experts, Geekbooks is the ideal choice to support you in creating P&L statements.\nOur professional team are on hand to ensure everything is completed on time and to all required standards.\nNeed a P&L statement or looking for advice on a pro forma P&L?\nChat with us today to find out how we could help.","attrs_markdown":"[Skip to content](https:\/\/www.geekbooks.com.au\/how-to-create-a-pl-statement\/#content \"Skip to content\")\n\n[GeekBooks](https:\/\/www.geekbooks.com.au\/ \"GeekBooks\")\n\nOver 50 Years of Australian Tax Expertise [Book now](https:\/\/www.geekbooks.com.au\/contact-us\/)\n\n![close](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/close.png)\n\n[![GeekBooks](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/logo-1.png)](https:\/\/www.geekbooks.com.au\/)\n\n[![logo-mobile](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20271%2027'%3E%3C\/svg%3E)![logo-mobile](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/logo-mobile.png)](https:\/\/www.geekbooks.com.au\/)\n\nMenu\n\n- [Home](https:\/\/www.geekbooks.com.au\/)\n- [About](https:\/\/www.geekbooks.com.au\/about-us\/)\n- [Industries](https:\/\/www.geekbooks.com.au\/how-to-create-a-pl-statement\/)\n  - [Construction](https:\/\/www.geekbooks.com.au\/industries\/construction\/)\n  - [Creative Web Agencies](https:\/\/www.geekbooks.com.au\/industries\/creative-web-agencies\/)\n  - [Hospitality](https:\/\/www.geekbooks.com.au\/industries\/hospitality\/)\n  - [IT](https:\/\/www.geekbooks.com.au\/industries\/it\/)\n  - [Manufacturing](https:\/\/www.geekbooks.com.au\/industries\/manufacturing\/)\n  - [Medical](https:\/\/www.geekbooks.com.au\/industries\/medical\/)\n  - [Non-Profit](https:\/\/www.geekbooks.com.au\/industries\/non-profit\/)\n  - [Retail](https:\/\/www.geekbooks.com.au\/industries\/retail\/)\n  - [Self Improvement](https:\/\/www.geekbooks.com.au\/industries\/self-improvement\/)\n  - [Trade](https:\/\/www.geekbooks.com.au\/industries\/trade\/)\n  - [Transport & Logistics](https:\/\/www.geekbooks.com.au\/industries\/transport-logistics\/)\n- [Services](https:\/\/www.geekbooks.com.au\/how-to-create-a-pl-statement\/)\n  - [Small Business Bookkeeping](https:\/\/www.geekbooks.com.au\/services\/small-business-bookkeeper\/)\n  - [Payroll Services](https:\/\/www.geekbooks.com.au\/services\/payroll\/)\n  - [Virtual Accountants](https:\/\/www.geekbooks.com.au\/services\/virtual-accounting\/)\n  - [Superannuation Accounting Services](https:\/\/www.geekbooks.com.au\/services\/superannuation\/)\n  - [Accounts Payable](https:\/\/www.geekbooks.com.au\/services\/accounts-payable\/)\n  - [Accounts Receivable and Debtor Management](https:\/\/www.geekbooks.com.au\/services\/accounts-receivable-and-debtor-management\/)\n  - [Bank Transactions and Reconciliation](https:\/\/www.geekbooks.com.au\/services\/bank-transactions-and-reconciliations\/)\n  - [BAS Preparation Services](https:\/\/www.geekbooks.com.au\/services\/bas-preparation\/)\n  - [Dext Training and Support Services](https:\/\/www.geekbooks.com.au\/services\/dext\/)\n  - [Email & Phone Support](https:\/\/www.geekbooks.com.au\/services\/email-phone-support\/)\n  - [Invoicing Services](https:\/\/www.geekbooks.com.au\/services\/invoicing\/)\n  - [Month & Year-End Accounting Reconciliations](https:\/\/www.geekbooks.com.au\/services\/month-year-end-reconciliations\/)\n  - [Monthly and Year-End Financial Reporting Services](https:\/\/www.geekbooks.com.au\/services\/month-year-end-reporting\/)\n  - [Setup and Training](https:\/\/www.geekbooks.com.au\/services\/setup-training\/)\n- [Software](https:\/\/www.geekbooks.com.au\/how-to-create-a-pl-statement\/)\n  - [MYOB](https:\/\/www.geekbooks.com.au\/software\/myob\/)\n  - [XERO](https:\/\/www.geekbooks.com.au\/software\/xero\/)\n- [Pricing](https:\/\/www.geekbooks.com.au\/pricing\/)\n- [Blog](https:\/\/www.geekbooks.com.au\/blog\/)\n- [Contact](https:\/\/www.geekbooks.com.au\/contact-us\/)\n\n[![phone\\_call\\_icon](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2024%2024'%3E%3C\/svg%3E)![phone\\_call\\_icon](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/phone_call_icon.svg)](tel:0291583591)\n\n[02 9158 3591](tel:0291583591)\n\n[Get free quote](https:\/\/www.geekbooks.com.au\/how-to-create-a-pl-statement\/#tescroll)\n\n[Get free quote](https:\/\/www.geekbooks.com.au\/how-to-create-a-pl-statement\/)\n\n![how-to-create-a-PL-statement](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2024\/01\/how-to-create-a-PL-statement.png)\n\n# How to Create a P\\&L Statement\n\/ [Accounting](https:\/\/www.geekbooks.com.au\/category\/accounting\/), [Bookkeeping](https:\/\/www.geekbooks.com.au\/category\/bookkeeping\/), [Budgeting](https:\/\/www.geekbooks.com.au\/category\/budgeting\/), [Planning](https:\/\/www.geekbooks.com.au\/category\/planning\/), [Startup Business](https:\/\/www.geekbooks.com.au\/category\/startup-business\/), [Taxes](https:\/\/www.geekbooks.com.au\/category\/taxes\/) \/ By   [developer@beedev.com.au](https:\/\/www.geekbooks.com.au\/author\/developerbeedev-com-au\/ \"View all posts by developer@beedev.com.au\")\n\nKeeping track of your finances is essential for any business, large and small. This is particularly vital for small companies, where individual sales and expenses can make far more of an impact on their profits and losses than they would in huge enterprise businesses.\n\nOne of the forms of reporting and documentation that should be top of your list of priorities is your profit and loss statement – also referred to as a P\\&L.\n\nWhether you’re new to business or you’ve been coasting by on less formal reporting in the past, using the proper tools can be a huge benefit to your company.\n\nWe’re here to talk you through what a profit and loss statement is, how to do one, and why they are so important to have. Read on now to find out all the details:\n\n## What is a profit and loss statement?\nThe first stage in knowing how to create a P\\&L statement is knowing what a profit and loss statement is. As the name suggests, this form of report is a financial statement.\n\nP\\&L documents can be used to officially highlight the profits and expenses of your business in the past year.\n\nAt its most basic, a profit and loss statement lists a simplified version of your combined sales and combined expenses and provides a calculation of how much profit or loss your business is making currently.\n\nBusinesses are required to complete a profit and loss statement each year.\n\nIt’s good practice for companies of all shapes and sizes to be fully aware of their profitability and to have a good grip on their finances in general. Periodic P\\&Ls are the standard review that businesses must complete.\n\n## Why is a profit and loss statement so important?\nHaving a profit and loss statement is important for several reasons.\n\nFirstly, you’re required to complete one periodically – once per quarter – to prepare a Business Activity Statements and at the Financial Year End for your business tax return.\n\nIf you’re seeking funding through a lender, you’ll also need to have an up-to-date P\\&L statement, so they have a good idea of the health of your business, as well as projected Budgeted P\\&L with your projected profits and losses.\n\n![a man sitting a preparing a P\\&L statement](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20500%20281'%3E%3C\/svg%3E)![a man sitting a preparing a P\\&L statement](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2021\/05\/how-to-prepare-a-PL-statement.png)\n\n## How do I create a profit and loss statement?\nPreparing a profit and loss statement is a relatively easy task if you have all the information to hand. Our steps on how to create a profit and loss statement below cover all you need to know to complete your first review:\n\n### Set out the required categories\nAt their most basic, a P\\&L statement should be separated into four specific categories that are easy to view and understand at a glance. Whether you’re doing a first rough draft on paper or creating a spreadsheet, here are what your categories should look like:\n\n### Sales\nAny total Products or Services sold go in this category.\n\nCost of Goods Sold\n\nInclude all Purchases used in producing your sales items. Direct Costs, expenses associated in the producing your sale items.\n\nGross Profit  \n This item is the Total Sales less the Cost of Goods Sold, giving you the gross trading position of the business.\n\n### Expenses\nAll your overhead business expenses, from accountant fees to insurance, rent to wages, is included under expenses. These can then be sub-categorised according to the kind of expenses they are – Motor Vehicle expenses, office expenses, marketing, and miscellaneous.\n\n### Total Expenses\nThis is the total of your expenses when added together.\n\n### Net Profit\nYour net profit is calculated last and is your gross profit with all overhead expenses subtracted.\n\nDon’t worry about filling out everything yet – the first step is laying out those categories and having a basic understanding of what each one contains.\n\n![business people gathering financial data to prepare a P\\&L statement](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20500%20281'%3E%3C\/svg%3E)![business people gathering financial data to prepare a P\\&L statement](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2021\/05\/how-to-gather-financial-data-for-a-PL-statement.png)\n\n### Gather all the necessary financial information\nOnce you’ve got everything laid out, it’s far easier to sort your expenses and profits into their specific columns.\n\nFor quarterly P\\&L statements, you should carefully go back through all recorded expenses and profits and add them individually into your statement.\n\nIf you’re carrying out a Budgeted P\\&L statement, you’re creating a projection of your income and outgoings.\n\nIt’s crucial that you divide these up in the same way you would for a periodic P\\&L statement to ensure the best accuracy possible.\n\n### Calculate your income and expenses\nOnce you’ve filled out your first two categories, you can calculate both your total expenses and overall net profit.\n\nAdd together all your expenses to reach your total expense number, and then subtract this amount from the gross profit to access your net profit.\n\n![icon graphs showing the P\\&L statement data and how to interpret it](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20500%20281'%3E%3C\/svg%3E)![icon graphs showing the P\\&L statement data and how to interpret it](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2021\/05\/how-to-utilise-the-information-for-a-PL-Statement.png)\n\n### Utilise your P\\&L insight for business needs and requirements\nOnce you’ve completed all sections of your profit and loss statement and you’ve double-checked its accuracy, you can then utilise your review for official purposes.\n\nThis includes filling out your tax return, as well as seeking lenders of investors for your business. An where to invest your monies to grow your business.\n\n## Do I have to carry out profit and loss statements in-house?\nMany small businesses assume that P\\&L statements need to be carried out in-house.\n\nBut if you aren’t aware of how to write a profit and loss statement, or you’d like an expert opinion, working with a trained accountant is your best option.\n\nAs an essential quarterly report and review, P\\&L statements are vitally important – but learning how to make a profit and loss statement can take time away from other necessary business matters.\n\n### Work with Geekbooks today to make P\\&L easy\nAs business finance experts, Geekbooks is the ideal choice to support you in creating P\\&L statements.\n\nOur professional team are on hand to ensure everything is completed on time and to all required standards.\n\nNeed a P\\&L statement or looking for advice on a pro forma P\\&L?\n\nChat with us today to find out how we could help.\n\n![the steps to creating a P\\&L statement - infographic](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20800%202000'%3E%3C\/svg%3E)![the steps to creating a P\\&L statement - infographic](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2021\/05\/PL-statement-Infographic-geekbooks.png)\n\n[← Previous Post](https:\/\/www.geekbooks.com.au\/small-business-bookkeeping-made-simple\/ \"Small Business Bookkeeping Made Simple\")\n\n[Next Post →](https:\/\/www.geekbooks.com.au\/what-is-a-balance-sheet\/ \"What is a Balance Sheet?\")\n\n## Recent Posts\n- [What To Look For in a Bookkeeper](https:\/\/www.geekbooks.com.au\/what-to-look-for-in-a-bookkeeper\/)\n- [BAS Reconciliation: Nail Your Submissions, Minimise Risks, and Boost Efficiency](https:\/\/www.geekbooks.com.au\/bas-reconciliation-nail-your-submissions-minimise-risks-and-boost-efficiency\/)\n- [Your Accountant’s Responsibilities in Australia: What You Need To Know](https:\/\/www.geekbooks.com.au\/your-accountants-responsibilities-in-australia-what-you-need-to-know\/)\n- [What Is Bookkeeping Support and Could Your Business Benefit?](https:\/\/www.geekbooks.com.au\/what-is-bookkeeping-support-and-could-your-business-benefit\/)\n- [What Is SAP Payroll? A Complete Guide for Small Businesses](https:\/\/www.geekbooks.com.au\/what-is-sap-payroll-a-complete-guide-for-small-businesses\/)\n\n## Talk to Us Today\nNumbers talk- are you listening?\n\nIf your numbers are telling you that **it’s time to speak to the professionals at GeekBooks**, complete our online booking form or call us for a free quote today.\n\nRemember, we offer a 30-day money-back guarantee to show you our commitment to quality services and your satisfaction.\n\n**So you’ve got nothing to lose and everything to gain** with GeekBooks online bookkeeping services\\!\n\n[Get Started](https:\/\/www.geekbooks.com.au\/contact-us\/)\n\n### Trusted Xero Partners\n![](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2092%2092'%3E%3C\/svg%3E)\n\n![](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2026\/01\/icon-gold.svg)\n### Gold Partner\nPartner Status\n\n![](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2092%2092'%3E%3C\/svg%3E)\n\n![](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2026\/01\/ico-specialist-professional-services.svg)\n### Professional Services\nSpecialist\n\n![](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2092%2092'%3E%3C\/svg%3E)\n\n![](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2026\/01\/ico-specialist-retail.svg)\n### Retail & eCommerce\nSpecialist\n\n![](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2092%2092'%3E%3C\/svg%3E)\n\n![](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2026\/01\/ico-specialist-trade.svg)\n### Trade & Construction\nSpecialist\n\n![](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2092%2092'%3E%3C\/svg%3E)\n\n![](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2026\/01\/ico-specialist-migration.svg)\n### Xero Migration\nSpecialist\n\n![](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%2092%2092'%3E%3C\/svg%3E)\n\n![](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2026\/01\/ico-certification.svg)\n### Xero Advisor Certified\nCertification\n\n#### SERVICES\n- [Small Business Bookkeeping](https:\/\/www.geekbooks.com.au\/services\/small-business-bookkeeper\/)\n- [Payroll Services](https:\/\/www.geekbooks.com.au\/services\/payroll\/)\n- [Virtual Accountant](https:\/\/www.geekbooks.com.au\/services\/virtual-accounting\/)\n- [Superannuation Accounting Services](https:\/\/www.geekbooks.com.au\/services\/superannuation\/)\n- [Accounts Payable](https:\/\/www.geekbooks.com.au\/services\/accounts-payable\/)\n- [Accounts Receivable and Debtor Management](https:\/\/www.geekbooks.com.au\/services\/accounts-receivable-and-debtor-management\/)\n- [Bank Transactions and Bank Reconciliation](https:\/\/www.geekbooks.com.au\/services\/bank-transactions-and-reconciliations\/)\n- [BAS Preparation Services](https:\/\/www.geekbooks.com.au\/services\/bas-preparation\/)\n- [Dext Training and Support Services](https:\/\/www.geekbooks.com.au\/services\/dext\/)\n- [Email & Phone Support](https:\/\/www.geekbooks.com.au\/services\/email-phone-support\/)\n- [Invoicing Services](https:\/\/www.geekbooks.com.au\/services\/invoicing\/)\n- [Month and Year-End Accounting Reconciliations](https:\/\/www.geekbooks.com.au\/services\/month-year-end-reconciliations\/)\n- [Month and Year End Financial Reporting Services](https:\/\/www.geekbooks.com.au\/services\/month-year-end-reporting\/)\n- [Setup & Training](https:\/\/www.geekbooks.com.au\/services\/setup-training\/)\n\n#### INDUSTRIES\n- [Construction](https:\/\/www.geekbooks.com.au\/industries\/construction\/)\n- [Creative Web Agencies](https:\/\/www.geekbooks.com.au\/industries\/creative-web-agencies\/)\n- [Hospitality](https:\/\/www.geekbooks.com.au\/industries\/hospitality\/)\n- [IT](https:\/\/www.geekbooks.com.au\/industries\/it\/)\n- [Manufacturing](https:\/\/www.geekbooks.com.au\/industries\/manufacturing\/)\n- [Medical](https:\/\/www.geekbooks.com.au\/industries\/medical\/)\n- [Non-Profit](https:\/\/www.geekbooks.com.au\/industries\/non-profit\/)\n- [Retail](https:\/\/www.geekbooks.com.au\/industries\/retail\/)\n- [Self Improvement](https:\/\/www.geekbooks.com.au\/industries\/self-improvement\/)\n- [Trade](https:\/\/www.geekbooks.com.au\/industries\/trade\/)\n- [Transport & Logistics](https:\/\/www.geekbooks.com.au\/industries\/transport-logistics\/)\n\n#### LOCATION\n- [Adelaide Bookkeeping Services](https:\/\/www.geekbooks.com.au\/adelaide-bookkeeping-services\/)\n- [Brisbane Bookkeeping Services](https:\/\/www.geekbooks.com.au\/brisbane-bookkeeping-services\/)\n- [Darwin Bookkeeping Services](https:\/\/www.geekbooks.com.au\/darwin-bookkeeping-services\/)\n- [Perth Bookkeeping Services](https:\/\/www.geekbooks.com.au\/perth-bookkeeping-services\/)\n- [Melbourne Bookkeeping Services](https:\/\/www.geekbooks.com.au\/melbourne-bookkeeping-services\/)\n- [Sydney Bookkeeping Services](https:\/\/www.geekbooks.com.au\/sydney-bookkeeping-services\/)\n- [Perth Payroll Services](https:\/\/www.geekbooks.com.au\/perth-payroll-services\/)\n- [Melbourne Payroll Services](https:\/\/www.geekbooks.com.au\/melbourne-payroll-services\/)\n- [Darwin Payroll Services](https:\/\/www.geekbooks.com.au\/darwin-payroll-services\/)\n- [Brisbane Payroll Services](https:\/\/www.geekbooks.com.au\/brisbane-payroll-services\/)\n- [Adelaide Payroll Services](https:\/\/www.geekbooks.com.au\/adelaide-payroll-services\/)\n- [Sydney Payroll Services](https:\/\/www.geekbooks.com.au\/sydney-payroll-services\/)\n\n- [Adelaide Bookkeeping Services](https:\/\/www.geekbooks.com.au\/adelaide-bookkeeping-services\/)\n- [Brisbane Bookkeeping Services](https:\/\/www.geekbooks.com.au\/brisbane-bookkeeping-services\/)\n- [Darwin Bookkeeping Services](https:\/\/www.geekbooks.com.au\/darwin-bookkeeping-services\/)\n- [Perth Bookkeeping Services](https:\/\/www.geekbooks.com.au\/perth-bookkeeping-services\/)\n- [Melbourne Bookkeeping Services](https:\/\/www.geekbooks.com.au\/melbourne-bookkeeping-services\/)\n- [Sydney Bookkeeping Services](https:\/\/www.geekbooks.com.au\/sydney-bookkeeping-services\/)\n- [Perth Payroll Services](https:\/\/www.geekbooks.com.au\/perth-payroll-services\/)\n- [Melbourne Payroll Services](https:\/\/www.geekbooks.com.au\/melbourne-payroll-services\/)\n- [Darwin Payroll Services](https:\/\/www.geekbooks.com.au\/darwin-payroll-services\/)\n- [Brisbane Payroll Services](https:\/\/www.geekbooks.com.au\/brisbane-payroll-services\/)\n- [Adelaide Payroll Services](https:\/\/www.geekbooks.com.au\/adelaide-payroll-services\/)\n- [Sydney Payroll Services](https:\/\/www.geekbooks.com.au\/sydney-payroll-services\/)\n- [Adelaide Accounting Services](https:\/\/www.geekbooks.com.au\/adelaide-accounting-services\/)\n- [Brisbane Accounting Services](https:\/\/www.geekbooks.com.au\/brisbane-accounting-services\/)\n- [Darwin Accounting Services](https:\/\/www.geekbooks.com.au\/darwin-accounting-services\/)\n- [Melbourne Accounting Services](https:\/\/www.geekbooks.com.au\/melbourne-accounting-services\/)\n- [Perth Accounting Services](https:\/\/www.geekbooks.com.au\/perth-accounting-services\/)\n- [Sydney Accounting Services](https:\/\/www.geekbooks.com.au\/sydney-accounting-services\/)\n\n#### COMPANY\n- [Adelaide Accounting Services](https:\/\/www.geekbooks.com.au\/adelaide-accounting-services\/)\n- [Brisbane Accounting Services](https:\/\/www.geekbooks.com.au\/brisbane-accounting-services\/)\n- [Darwin Accounting Services](https:\/\/www.geekbooks.com.au\/darwin-accounting-services\/)\n- [Melbourne Accounting Services](https:\/\/www.geekbooks.com.au\/melbourne-accounting-services\/)\n- [Perth Accounting Services](https:\/\/www.geekbooks.com.au\/perth-accounting-services\/)\n- [Sydney Accounting Services](https:\/\/www.geekbooks.com.au\/sydney-accounting-services\/)\n\n#### COMPANY\n- [Home](https:\/\/www.geekbooks.com.au\/)\n- [About](https:\/\/www.geekbooks.com.au\/about-us\/)\n- [Industries](https:\/\/www.geekbooks.com.au\/industries\/)\n- [Services](https:\/\/www.geekbooks.com.au\/services\/)\n- [Software](https:\/\/www.geekbooks.com.au\/software\/)\n- [Pricing](https:\/\/www.geekbooks.com.au\/pricing\/)\n- [Blog](https:\/\/www.geekbooks.com.au\/blog\/)\n- [Contact](https:\/\/www.geekbooks.com.au\/contact-us\/)\n- [Privacy Policy](https:\/\/www.geekbooks.com.au\/privacy-policy\/)\n- [Refund Policy](https:\/\/www.geekbooks.com.au\/refund-policy\/)\n- [Terms & Conditions](https:\/\/www.geekbooks.com.au\/terms-conditions\/)\n- [Tax Disclosure Statement](https:\/\/www.geekbooks.com.au\/tax-disclosure-statement\/)\n- [Sitemap](https:\/\/www.geekbooks.com.au\/sitemap\/)\n\n#### CONTACT\n- [Suite 2201 Level 22, Tower Two Westfield, 101 Grafton Street, Bondi Junction, NSW, Australia](https:\/\/www.google.com\/maps\/place\/Geekbooks\/@-33.8913462,151.2482178,18z\/data=!3m1!5s0x6b12adf17f9e5a59:0x64dca85364ae72e4!4m6!3m5!1s0x6b12ad6ab3b85fd9:0x378cc445ed007edb!8m2!3d-33.8913574!4d151.2506962!16s%2Fg%2F11ghs8ps0y?entry=ttu)\n- [02 9158 3591](tel:0291583591)\n- [admin@geekbooks.com.au](mailto:admin@geekbooks.com.au)\n\n![mpartner](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20189%2071'%3E%3C\/svg%3E)\n\n![mpartner](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/mpartner.png)\n\n![706621](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20379%20135'%3E%3C\/svg%3E)\n\n![706621](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/706621.png)\n\n![tax-practitioners (2)](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20524%20523'%3E%3C\/svg%3E)\n\n![tax-practitioners (2)](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/tax-practitioners-2-1.png)\n\n![get-certifie](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20674%20234'%3E%3C\/svg%3E)\n\n![get-certifie](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/get-certifie.svg)\n\n#### CONTACT\n- [Suite 2201 Level 22, Tower Two Westfield, 101 Grafton Street, Bondi Junction, NSW, Australia](https:\/\/www.google.com\/maps\/place\/Geekbooks\/@-33.8913462,151.2482178,18z\/data=!3m1!5s0x6b12adf17f9e5a59:0x64dca85364ae72e4!4m6!3m5!1s0x6b12ad6ab3b85fd9:0x378cc445ed007edb!8m2!3d-33.8913574!4d151.2506962!16s%2Fg%2F11ghs8ps0y?entry=ttu)\n- [02 9158 3591](tel:0291583591)\n- [admin@geekbooks.com.au](mailto:admin@geekbooks.com.au)\n\n![footerlogos](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20303%2079'%3E%3C\/svg%3E)\n\n![footerlogos](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/footerlogos.png)\n\n![GeekBooks](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20213%2096'%3E%3C\/svg%3E)\n\n![GeekBooks](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2023\/08\/flogo_1.png)\n\n© Geek Books 2024 \\| All Rights Reserved\n\nType your Message\n\n![wpChatIcon](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2024\/02\/geeks-agent.png)\n\n× ![]()","attrs_readable_markdown":"Keeping track of your finances is essential for any business, large and small. This is particularly vital for small companies, where individual sales and expenses can make far more of an impact on their profits and losses than they would in huge enterprise businesses.\n\nOne of the forms of reporting and documentation that should be top of your list of priorities is your profit and loss statement – also referred to as a P\\&L.\n\nWhether you’re new to business or you’ve been coasting by on less formal reporting in the past, using the proper tools can be a huge benefit to your company.\n\nWe’re here to talk you through what a profit and loss statement is, how to do one, and why they are so important to have. Read on now to find out all the details:\n\n## What is a profit and loss statement?\nThe first stage in knowing how to create a P\\&L statement is knowing what a profit and loss statement is. As the name suggests, this form of report is a financial statement.\n\nP\\&L documents can be used to officially highlight the profits and expenses of your business in the past year.\n\nAt its most basic, a profit and loss statement lists a simplified version of your combined sales and combined expenses and provides a calculation of how much profit or loss your business is making currently.\n\nBusinesses are required to complete a profit and loss statement each year.\n\nIt’s good practice for companies of all shapes and sizes to be fully aware of their profitability and to have a good grip on their finances in general. Periodic P\\&Ls are the standard review that businesses must complete.\n\n## Why is a profit and loss statement so important?\nHaving a profit and loss statement is important for several reasons.\n\nFirstly, you’re required to complete one periodically – once per quarter – to prepare a Business Activity Statements and at the Financial Year End for your business tax return.\n\nIf you’re seeking funding through a lender, you’ll also need to have an up-to-date P\\&L statement, so they have a good idea of the health of your business, as well as projected Budgeted P\\&L with your projected profits and losses.\n\n![a man sitting a preparing a P\\&L statement](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2021\/05\/how-to-prepare-a-PL-statement.png)\n\nPreparing a profit and loss statement is a relatively easy task if you have all the information to hand. Our steps on how to create a profit and loss statement below cover all you need to know to complete your first review:\n\n### Set out the required categories\nAt their most basic, a P\\&L statement should be separated into four specific categories that are easy to view and understand at a glance. Whether you’re doing a first rough draft on paper or creating a spreadsheet, here are what your categories should look like:\n\n### Sales\nAny total Products or Services sold go in this category.\n\nCost of Goods Sold\n\nInclude all Purchases used in producing your sales items. Direct Costs, expenses associated in the producing your sale items.\n\nGross Profit  \n This item is the Total Sales less the Cost of Goods Sold, giving you the gross trading position of the business.\n\n### Expenses\nAll your overhead business expenses, from accountant fees to insurance, rent to wages, is included under expenses. These can then be sub-categorised according to the kind of expenses they are – Motor Vehicle expenses, office expenses, marketing, and miscellaneous.\n\n### Total Expenses\nThis is the total of your expenses when added together.\n\n### Net Profit\nYour net profit is calculated last and is your gross profit with all overhead expenses subtracted.\n\nDon’t worry about filling out everything yet – the first step is laying out those categories and having a basic understanding of what each one contains.\n\n![business people gathering financial data to prepare a P\\&L statement](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2021\/05\/how-to-gather-financial-data-for-a-PL-statement.png)\n\n### Gather all the necessary financial information\nOnce you’ve got everything laid out, it’s far easier to sort your expenses and profits into their specific columns.\n\nFor quarterly P\\&L statements, you should carefully go back through all recorded expenses and profits and add them individually into your statement.\n\nIf you’re carrying out a Budgeted P\\&L statement, you’re creating a projection of your income and outgoings.\n\nIt’s crucial that you divide these up in the same way you would for a periodic P\\&L statement to ensure the best accuracy possible.\n\n### Calculate your income and expenses\nOnce you’ve filled out your first two categories, you can calculate both your total expenses and overall net profit.\n\nAdd together all your expenses to reach your total expense number, and then subtract this amount from the gross profit to access your net profit.\n\n![icon graphs showing the P\\&L statement data and how to interpret it](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2021\/05\/how-to-utilise-the-information-for-a-PL-Statement.png)\n\n### Utilise your P\\&L insight for business needs and requirements\nOnce you’ve completed all sections of your profit and loss statement and you’ve double-checked its accuracy, you can then utilise your review for official purposes.\n\nThis includes filling out your tax return, as well as seeking lenders of investors for your business. An where to invest your monies to grow your business.\n\n## Do I have to carry out profit and loss statements in-house?\nMany small businesses assume that P\\&L statements need to be carried out in-house.\n\nBut if you aren’t aware of how to write a profit and loss statement, or you’d like an expert opinion, working with a trained accountant is your best option.\n\nAs an essential quarterly report and review, P\\&L statements are vitally important – but learning how to make a profit and loss statement can take time away from other necessary business matters.\n\n### Work with Geekbooks today to make P\\&L easy\nAs business finance experts, Geekbooks is the ideal choice to support you in creating P\\&L statements.\n\nOur professional team are on hand to ensure everything is completed on time and to all required standards.\n\nNeed a P\\&L statement or looking for advice on a pro forma P\\&L?\n\nChat with us today to find out how we could help.\n\n![the steps to creating a P\\&L statement - infographic](https:\/\/www.geekbooks.com.au\/wp-content\/uploads\/2021\/05\/PL-statement-Infographic-geekbooks.png)","meta_canonical":null}

3. Robots.txt Check

Query:

Response:

4. Spam/Ban Check

Query:

Response:

5. Seen Status Check

ℹ️ Skipped - page is already crawled

📄

INDEXABLE

✅

CRAWLED

2 days ago

🤖

ROBOTS ALLOWED

Page Info Filters

Filter	Status	Condition	Details
HTTP status	PASS	`download_http_code = 200`	HTTP 200
Age cutoff	PASS	`download_stamp > now() - 6 MONTH`	0.1 months ago
History drop	PASS	`isNull(history_drop_reason)`	No drop reason
Spam/ban	PASS	`fh_dont_index != 1 AND ml_spam_score = 0`	ml_spam_score=0
Canonical	PASS	`meta_canonical IS NULL OR = '' OR = src_unparsed`	Not set

Page Details

Property	Value
URL	https://www.geekbooks.com.au/how-to-create-a-pl-statement/
Last Crawled	2026-04-09 14:31:56 (2 days ago)
First Indexed	2021-05-04 13:47:08 (4 years ago)
HTTP Status Code	200
Meta Title	How to Create a Profit & Loss Statement (Step‑by‑Step)
Meta Description	Learn how to create a profit and loss statement, what it shows, and how businesses use it for decision‑making.
Meta Canonical	null
Boilerpipe Text	Keeping track of your finances is essential for any business, large and small. This is particularly vital for small companies, where individual sales and expenses can make far more of an impact on their profits and losses than they would in huge enterprise businesses. One of the forms of reporting and documentation that should be top of your list of priorities is your profit and loss statement – also referred to as a P&L. Whether you’re new to business or you’ve been coasting by on less formal reporting in the past, using the proper tools can be a huge benefit to your company. We’re here to talk you through what a profit and loss statement is, how to do one, and why they are so important to have. Read on now to find out all the details: What is a profit and loss statement? The first stage in knowing how to create a P&L statement is knowing what a profit and loss statement is. As the name suggests, this form of report is a financial statement. P&L documents can be used to officially highlight the profits and expenses of your business in the past year. At its most basic, a profit and loss statement lists a simplified version of your combined sales and combined expenses and provides a calculation of how much profit or loss your business is making currently. Businesses are required to complete a profit and loss statement each year. It’s good practice for companies of all shapes and sizes to be fully aware of their profitability and to have a good grip on their finances in general. Periodic P&Ls are the standard review that businesses must complete. Why is a profit and loss statement so important? Having a profit and loss statement is important for several reasons. Firstly, you’re required to complete one periodically – once per quarter – to prepare a Business Activity Statements and at the Financial Year End for your business tax return. If you’re seeking funding through a lender, you’ll also need to have an up-to-date P&L statement, so they have a good idea of the health of your business, as well as projected Budgeted P&L with your projected profits and losses. Preparing a profit and loss statement is a relatively easy task if you have all the information to hand. Our steps on how to create a profit and loss statement below cover all you need to know to complete your first review: Set out the required categories At their most basic, a P&L statement should be separated into four specific categories that are easy to view and understand at a glance. Whether you’re doing a first rough draft on paper or creating a spreadsheet, here are what your categories should look like: Sales Any total Products or Services sold go in this category. Cost of Goods Sold Include all Purchases used in producing your sales items. Direct Costs, expenses associated in the producing your sale items. Gross Profit This item is the Total Sales less the Cost of Goods Sold, giving you the gross trading position of the business. Expenses All your overhead business expenses, from accountant fees to insurance, rent to wages, is included under expenses. These can then be sub-categorised according to the kind of expenses they are – Motor Vehicle expenses, office expenses, marketing, and miscellaneous. Total Expenses This is the total of your expenses when added together. Net Profit Your net profit is calculated last and is your gross profit with all overhead expenses subtracted. Don’t worry about filling out everything yet – the first step is laying out those categories and having a basic understanding of what each one contains. Gather all the necessary financial information Once you’ve got everything laid out, it’s far easier to sort your expenses and profits into their specific columns. For quarterly P&L statements, you should carefully go back through all recorded expenses and profits and add them individually into your statement. If you’re carrying out a Budgeted P&L statement, you’re creating a projection of your income and outgoings. It’s crucial that you divide these up in the same way you would for a periodic P&L statement to ensure the best accuracy possible. Calculate your income and expenses Once you’ve filled out your first two categories, you can calculate both your total expenses and overall net profit. Add together all your expenses to reach your total expense number, and then subtract this amount from the gross profit to access your net profit. Utilise your P&L insight for business needs and requirements Once you’ve completed all sections of your profit and loss statement and you’ve double-checked its accuracy, you can then utilise your review for official purposes. This includes filling out your tax return, as well as seeking lenders of investors for your business. An where to invest your monies to grow your business. Do I have to carry out profit and loss statements in-house? Many small businesses assume that P&L statements need to be carried out in-house. But if you aren’t aware of how to write a profit and loss statement, or you’d like an expert opinion, working with a trained accountant is your best option. As an essential quarterly report and review, P&L statements are vitally important – but learning how to make a profit and loss statement can take time away from other necessary business matters. Work with Geekbooks today to make P&L easy As business finance experts, Geekbooks is the ideal choice to support you in creating P&L statements. Our professional team are on hand to ensure everything is completed on time and to all required standards. Need a P&L statement or looking for advice on a pro forma P&L? Chat with us today to find out how we could help.
Markdown	[Skip to content](https://www.geekbooks.com.au/how-to-create-a-pl-statement/#content "Skip to content") [GeekBooks](https://www.geekbooks.com.au/ "GeekBooks") Over 50 Years of Australian Tax Expertise [Book now](https://www.geekbooks.com.au/contact-us/) ![close](https://www.geekbooks.com.au/wp-content/uploads/2023/08/close.png) [![GeekBooks](https://www.geekbooks.com.au/wp-content/uploads/2023/08/logo-1.png)](https://www.geekbooks.com.au/) [![logo-mobile](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20271%2027'%3E%3C/svg%3E)![logo-mobile](https://www.geekbooks.com.au/wp-content/uploads/2023/08/logo-mobile.png)](https://www.geekbooks.com.au/) Menu - [Home](https://www.geekbooks.com.au/) - [About](https://www.geekbooks.com.au/about-us/) - [Industries](https://www.geekbooks.com.au/how-to-create-a-pl-statement/) - [Construction](https://www.geekbooks.com.au/industries/construction/) - [Creative Web Agencies](https://www.geekbooks.com.au/industries/creative-web-agencies/) - [Hospitality](https://www.geekbooks.com.au/industries/hospitality/) - [IT](https://www.geekbooks.com.au/industries/it/) - [Manufacturing](https://www.geekbooks.com.au/industries/manufacturing/) - [Medical](https://www.geekbooks.com.au/industries/medical/) - [Non-Profit](https://www.geekbooks.com.au/industries/non-profit/) - [Retail](https://www.geekbooks.com.au/industries/retail/) - [Self Improvement](https://www.geekbooks.com.au/industries/self-improvement/) - [Trade](https://www.geekbooks.com.au/industries/trade/) - [Transport & Logistics](https://www.geekbooks.com.au/industries/transport-logistics/) - [Services](https://www.geekbooks.com.au/how-to-create-a-pl-statement/) - [Small Business Bookkeeping](https://www.geekbooks.com.au/services/small-business-bookkeeper/) - [Payroll Services](https://www.geekbooks.com.au/services/payroll/) - [Virtual Accountants](https://www.geekbooks.com.au/services/virtual-accounting/) - [Superannuation Accounting Services](https://www.geekbooks.com.au/services/superannuation/) - [Accounts Payable](https://www.geekbooks.com.au/services/accounts-payable/) - [Accounts Receivable and Debtor Management](https://www.geekbooks.com.au/services/accounts-receivable-and-debtor-management/) - [Bank Transactions and Reconciliation](https://www.geekbooks.com.au/services/bank-transactions-and-reconciliations/) - [BAS Preparation Services](https://www.geekbooks.com.au/services/bas-preparation/) - [Dext Training and Support Services](https://www.geekbooks.com.au/services/dext/) - [Email & Phone Support](https://www.geekbooks.com.au/services/email-phone-support/) - [Invoicing Services](https://www.geekbooks.com.au/services/invoicing/) - [Month & Year-End Accounting Reconciliations](https://www.geekbooks.com.au/services/month-year-end-reconciliations/) - [Monthly and Year-End Financial Reporting Services](https://www.geekbooks.com.au/services/month-year-end-reporting/) - [Setup and Training](https://www.geekbooks.com.au/services/setup-training/) - [Software](https://www.geekbooks.com.au/how-to-create-a-pl-statement/) - [MYOB](https://www.geekbooks.com.au/software/myob/) - [XERO](https://www.geekbooks.com.au/software/xero/) - [Pricing](https://www.geekbooks.com.au/pricing/) - [Blog](https://www.geekbooks.com.au/blog/) - [Contact](https://www.geekbooks.com.au/contact-us/) [![phone\_call\_icon](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2024%2024'%3E%3C/svg%3E)![phone\_call\_icon](https://www.geekbooks.com.au/wp-content/uploads/2023/08/phone_call_icon.svg)](tel:0291583591) [02 9158 3591](tel:0291583591) [Get free quote](https://www.geekbooks.com.au/how-to-create-a-pl-statement/#tescroll) [Get free quote](https://www.geekbooks.com.au/how-to-create-a-pl-statement/) ![how-to-create-a-PL-statement](https://www.geekbooks.com.au/wp-content/uploads/2024/01/how-to-create-a-PL-statement.png) # How to Create a P\&L Statement / [Accounting](https://www.geekbooks.com.au/category/accounting/), [Bookkeeping](https://www.geekbooks.com.au/category/bookkeeping/), [Budgeting](https://www.geekbooks.com.au/category/budgeting/), [Planning](https://www.geekbooks.com.au/category/planning/), [Startup Business](https://www.geekbooks.com.au/category/startup-business/), [Taxes](https://www.geekbooks.com.au/category/taxes/) / By [developer@beedev.com.au](https://www.geekbooks.com.au/author/developerbeedev-com-au/ "View all posts by developer@beedev.com.au") Keeping track of your finances is essential for any business, large and small. This is particularly vital for small companies, where individual sales and expenses can make far more of an impact on their profits and losses than they would in huge enterprise businesses. One of the forms of reporting and documentation that should be top of your list of priorities is your profit and loss statement – also referred to as a P\&L. Whether you’re new to business or you’ve been coasting by on less formal reporting in the past, using the proper tools can be a huge benefit to your company. We’re here to talk you through what a profit and loss statement is, how to do one, and why they are so important to have. Read on now to find out all the details: ## What is a profit and loss statement? The first stage in knowing how to create a P\&L statement is knowing what a profit and loss statement is. As the name suggests, this form of report is a financial statement. P\&L documents can be used to officially highlight the profits and expenses of your business in the past year. At its most basic, a profit and loss statement lists a simplified version of your combined sales and combined expenses and provides a calculation of how much profit or loss your business is making currently. Businesses are required to complete a profit and loss statement each year. It’s good practice for companies of all shapes and sizes to be fully aware of their profitability and to have a good grip on their finances in general. Periodic P\&Ls are the standard review that businesses must complete. ## Why is a profit and loss statement so important? Having a profit and loss statement is important for several reasons. Firstly, you’re required to complete one periodically – once per quarter – to prepare a Business Activity Statements and at the Financial Year End for your business tax return. If you’re seeking funding through a lender, you’ll also need to have an up-to-date P\&L statement, so they have a good idea of the health of your business, as well as projected Budgeted P\&L with your projected profits and losses. ![a man sitting a preparing a P\&L statement](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20500%20281'%3E%3C/svg%3E)![a man sitting a preparing a P\&L statement](https://www.geekbooks.com.au/wp-content/uploads/2021/05/how-to-prepare-a-PL-statement.png) ## How do I create a profit and loss statement? Preparing a profit and loss statement is a relatively easy task if you have all the information to hand. Our steps on how to create a profit and loss statement below cover all you need to know to complete your first review: ### Set out the required categories At their most basic, a P\&L statement should be separated into four specific categories that are easy to view and understand at a glance. Whether you’re doing a first rough draft on paper or creating a spreadsheet, here are what your categories should look like: ### Sales Any total Products or Services sold go in this category. Cost of Goods Sold Include all Purchases used in producing your sales items. Direct Costs, expenses associated in the producing your sale items. Gross Profit This item is the Total Sales less the Cost of Goods Sold, giving you the gross trading position of the business. ### Expenses All your overhead business expenses, from accountant fees to insurance, rent to wages, is included under expenses. These can then be sub-categorised according to the kind of expenses they are – Motor Vehicle expenses, office expenses, marketing, and miscellaneous. ### Total Expenses This is the total of your expenses when added together. ### Net Profit Your net profit is calculated last and is your gross profit with all overhead expenses subtracted. Don’t worry about filling out everything yet – the first step is laying out those categories and having a basic understanding of what each one contains. ![business people gathering financial data to prepare a P\&L statement](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20500%20281'%3E%3C/svg%3E)![business people gathering financial data to prepare a P\&L statement](https://www.geekbooks.com.au/wp-content/uploads/2021/05/how-to-gather-financial-data-for-a-PL-statement.png) ### Gather all the necessary financial information Once you’ve got everything laid out, it’s far easier to sort your expenses and profits into their specific columns. For quarterly P\&L statements, you should carefully go back through all recorded expenses and profits and add them individually into your statement. If you’re carrying out a Budgeted P\&L statement, you’re creating a projection of your income and outgoings. It’s crucial that you divide these up in the same way you would for a periodic P\&L statement to ensure the best accuracy possible. ### Calculate your income and expenses Once you’ve filled out your first two categories, you can calculate both your total expenses and overall net profit. Add together all your expenses to reach your total expense number, and then subtract this amount from the gross profit to access your net profit. ![icon graphs showing the P\&L statement data and how to interpret it](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20500%20281'%3E%3C/svg%3E)![icon graphs showing the P\&L statement data and how to interpret it](https://www.geekbooks.com.au/wp-content/uploads/2021/05/how-to-utilise-the-information-for-a-PL-Statement.png) ### Utilise your P\&L insight for business needs and requirements Once you’ve completed all sections of your profit and loss statement and you’ve double-checked its accuracy, you can then utilise your review for official purposes. This includes filling out your tax return, as well as seeking lenders of investors for your business. An where to invest your monies to grow your business. ## Do I have to carry out profit and loss statements in-house? Many small businesses assume that P\&L statements need to be carried out in-house. But if you aren’t aware of how to write a profit and loss statement, or you’d like an expert opinion, working with a trained accountant is your best option. As an essential quarterly report and review, P\&L statements are vitally important – but learning how to make a profit and loss statement can take time away from other necessary business matters. ### Work with Geekbooks today to make P\&L easy As business finance experts, Geekbooks is the ideal choice to support you in creating P\&L statements. Our professional team are on hand to ensure everything is completed on time and to all required standards. Need a P\&L statement or looking for advice on a pro forma P\&L? Chat with us today to find out how we could help. ![the steps to creating a P\&L statement - infographic](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20800%202000'%3E%3C/svg%3E)![the steps to creating a P\&L statement - infographic](https://www.geekbooks.com.au/wp-content/uploads/2021/05/PL-statement-Infographic-geekbooks.png) [← Previous Post](https://www.geekbooks.com.au/small-business-bookkeeping-made-simple/ "Small Business Bookkeeping Made Simple") [Next Post →](https://www.geekbooks.com.au/what-is-a-balance-sheet/ "What is a Balance Sheet?") ## Recent Posts - [What To Look For in a Bookkeeper](https://www.geekbooks.com.au/what-to-look-for-in-a-bookkeeper/) - [BAS Reconciliation: Nail Your Submissions, Minimise Risks, and Boost Efficiency](https://www.geekbooks.com.au/bas-reconciliation-nail-your-submissions-minimise-risks-and-boost-efficiency/) - [Your Accountant’s Responsibilities in Australia: What You Need To Know](https://www.geekbooks.com.au/your-accountants-responsibilities-in-australia-what-you-need-to-know/) - [What Is Bookkeeping Support and Could Your Business Benefit?](https://www.geekbooks.com.au/what-is-bookkeeping-support-and-could-your-business-benefit/) - [What Is SAP Payroll? A Complete Guide for Small Businesses](https://www.geekbooks.com.au/what-is-sap-payroll-a-complete-guide-for-small-businesses/) ## Talk to Us Today Numbers talk- are you listening? If your numbers are telling you that it’s time to speak to the professionals at GeekBooks, complete our online booking form or call us for a free quote today. Remember, we offer a 30-day money-back guarantee to show you our commitment to quality services and your satisfaction. So you’ve got nothing to lose and everything to gain with GeekBooks online bookkeeping services\! [Get Started](https://www.geekbooks.com.au/contact-us/) ### Trusted Xero Partners ![](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2092%2092'%3E%3C/svg%3E) ![](https://www.geekbooks.com.au/wp-content/uploads/2026/01/icon-gold.svg) ### Gold Partner Partner Status ![](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2092%2092'%3E%3C/svg%3E) ![](https://www.geekbooks.com.au/wp-content/uploads/2026/01/ico-specialist-professional-services.svg) ### Professional Services Specialist ![](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2092%2092'%3E%3C/svg%3E) ![](https://www.geekbooks.com.au/wp-content/uploads/2026/01/ico-specialist-retail.svg) ### Retail & eCommerce Specialist ![](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2092%2092'%3E%3C/svg%3E) ![](https://www.geekbooks.com.au/wp-content/uploads/2026/01/ico-specialist-trade.svg) ### Trade & Construction Specialist ![](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2092%2092'%3E%3C/svg%3E) ![](https://www.geekbooks.com.au/wp-content/uploads/2026/01/ico-specialist-migration.svg) ### Xero Migration Specialist ![](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2092%2092'%3E%3C/svg%3E) ![](https://www.geekbooks.com.au/wp-content/uploads/2026/01/ico-certification.svg) ### Xero Advisor Certified Certification #### SERVICES - [Small Business Bookkeeping](https://www.geekbooks.com.au/services/small-business-bookkeeper/) - [Payroll Services](https://www.geekbooks.com.au/services/payroll/) - [Virtual Accountant](https://www.geekbooks.com.au/services/virtual-accounting/) - [Superannuation Accounting Services](https://www.geekbooks.com.au/services/superannuation/) - [Accounts Payable](https://www.geekbooks.com.au/services/accounts-payable/) - [Accounts Receivable and Debtor Management](https://www.geekbooks.com.au/services/accounts-receivable-and-debtor-management/) - [Bank Transactions and Bank Reconciliation](https://www.geekbooks.com.au/services/bank-transactions-and-reconciliations/) - [BAS Preparation Services](https://www.geekbooks.com.au/services/bas-preparation/) - [Dext Training and Support Services](https://www.geekbooks.com.au/services/dext/) - [Email & Phone Support](https://www.geekbooks.com.au/services/email-phone-support/) - [Invoicing Services](https://www.geekbooks.com.au/services/invoicing/) - [Month and Year-End Accounting Reconciliations](https://www.geekbooks.com.au/services/month-year-end-reconciliations/) - [Month and Year End Financial Reporting Services](https://www.geekbooks.com.au/services/month-year-end-reporting/) - [Setup & Training](https://www.geekbooks.com.au/services/setup-training/) #### INDUSTRIES - [Construction](https://www.geekbooks.com.au/industries/construction/) - [Creative Web Agencies](https://www.geekbooks.com.au/industries/creative-web-agencies/) - [Hospitality](https://www.geekbooks.com.au/industries/hospitality/) - [IT](https://www.geekbooks.com.au/industries/it/) - [Manufacturing](https://www.geekbooks.com.au/industries/manufacturing/) - [Medical](https://www.geekbooks.com.au/industries/medical/) - [Non-Profit](https://www.geekbooks.com.au/industries/non-profit/) - [Retail](https://www.geekbooks.com.au/industries/retail/) - [Self Improvement](https://www.geekbooks.com.au/industries/self-improvement/) - [Trade](https://www.geekbooks.com.au/industries/trade/) - [Transport & Logistics](https://www.geekbooks.com.au/industries/transport-logistics/) #### LOCATION - [Adelaide Bookkeeping Services](https://www.geekbooks.com.au/adelaide-bookkeeping-services/) - [Brisbane Bookkeeping Services](https://www.geekbooks.com.au/brisbane-bookkeeping-services/) - [Darwin Bookkeeping Services](https://www.geekbooks.com.au/darwin-bookkeeping-services/) - [Perth Bookkeeping Services](https://www.geekbooks.com.au/perth-bookkeeping-services/) - [Melbourne Bookkeeping Services](https://www.geekbooks.com.au/melbourne-bookkeeping-services/) - [Sydney Bookkeeping Services](https://www.geekbooks.com.au/sydney-bookkeeping-services/) - [Perth Payroll Services](https://www.geekbooks.com.au/perth-payroll-services/) - [Melbourne Payroll Services](https://www.geekbooks.com.au/melbourne-payroll-services/) - [Darwin Payroll Services](https://www.geekbooks.com.au/darwin-payroll-services/) - [Brisbane Payroll Services](https://www.geekbooks.com.au/brisbane-payroll-services/) - [Adelaide Payroll Services](https://www.geekbooks.com.au/adelaide-payroll-services/) - [Sydney Payroll Services](https://www.geekbooks.com.au/sydney-payroll-services/) - [Adelaide Bookkeeping Services](https://www.geekbooks.com.au/adelaide-bookkeeping-services/) - [Brisbane Bookkeeping Services](https://www.geekbooks.com.au/brisbane-bookkeeping-services/) - [Darwin Bookkeeping Services](https://www.geekbooks.com.au/darwin-bookkeeping-services/) - [Perth Bookkeeping Services](https://www.geekbooks.com.au/perth-bookkeeping-services/) - [Melbourne Bookkeeping Services](https://www.geekbooks.com.au/melbourne-bookkeeping-services/) - [Sydney Bookkeeping Services](https://www.geekbooks.com.au/sydney-bookkeeping-services/) - [Perth Payroll Services](https://www.geekbooks.com.au/perth-payroll-services/) - [Melbourne Payroll Services](https://www.geekbooks.com.au/melbourne-payroll-services/) - [Darwin Payroll Services](https://www.geekbooks.com.au/darwin-payroll-services/) - [Brisbane Payroll Services](https://www.geekbooks.com.au/brisbane-payroll-services/) - [Adelaide Payroll Services](https://www.geekbooks.com.au/adelaide-payroll-services/) - [Sydney Payroll Services](https://www.geekbooks.com.au/sydney-payroll-services/) - [Adelaide Accounting Services](https://www.geekbooks.com.au/adelaide-accounting-services/) - [Brisbane Accounting Services](https://www.geekbooks.com.au/brisbane-accounting-services/) - [Darwin Accounting Services](https://www.geekbooks.com.au/darwin-accounting-services/) - [Melbourne Accounting Services](https://www.geekbooks.com.au/melbourne-accounting-services/) - [Perth Accounting Services](https://www.geekbooks.com.au/perth-accounting-services/) - [Sydney Accounting Services](https://www.geekbooks.com.au/sydney-accounting-services/) #### COMPANY - [Adelaide Accounting Services](https://www.geekbooks.com.au/adelaide-accounting-services/) - [Brisbane Accounting Services](https://www.geekbooks.com.au/brisbane-accounting-services/) - [Darwin Accounting Services](https://www.geekbooks.com.au/darwin-accounting-services/) - [Melbourne Accounting Services](https://www.geekbooks.com.au/melbourne-accounting-services/) - [Perth Accounting Services](https://www.geekbooks.com.au/perth-accounting-services/) - [Sydney Accounting Services](https://www.geekbooks.com.au/sydney-accounting-services/) #### COMPANY - [Home](https://www.geekbooks.com.au/) - [About](https://www.geekbooks.com.au/about-us/) - [Industries](https://www.geekbooks.com.au/industries/) - [Services](https://www.geekbooks.com.au/services/) - [Software](https://www.geekbooks.com.au/software/) - [Pricing](https://www.geekbooks.com.au/pricing/) - [Blog](https://www.geekbooks.com.au/blog/) - [Contact](https://www.geekbooks.com.au/contact-us/) - [Privacy Policy](https://www.geekbooks.com.au/privacy-policy/) - [Refund Policy](https://www.geekbooks.com.au/refund-policy/) - [Terms & Conditions](https://www.geekbooks.com.au/terms-conditions/) - [Tax Disclosure Statement](https://www.geekbooks.com.au/tax-disclosure-statement/) - [Sitemap](https://www.geekbooks.com.au/sitemap/) #### CONTACT - [Suite 2201 Level 22, Tower Two Westfield, 101 Grafton Street, Bondi Junction, NSW, Australia](https://www.google.com/maps/place/Geekbooks/@-33.8913462,151.2482178,18z/data=!3m1!5s0x6b12adf17f9e5a59:0x64dca85364ae72e4!4m6!3m5!1s0x6b12ad6ab3b85fd9:0x378cc445ed007edb!8m2!3d-33.8913574!4d151.2506962!16s%2Fg%2F11ghs8ps0y?entry=ttu) - [02 9158 3591](tel:0291583591) - [admin@geekbooks.com.au](mailto:admin@geekbooks.com.au) ![mpartner](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20189%2071'%3E%3C/svg%3E) ![mpartner](https://www.geekbooks.com.au/wp-content/uploads/2023/08/mpartner.png) ![706621](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20379%20135'%3E%3C/svg%3E) ![706621](https://www.geekbooks.com.au/wp-content/uploads/2023/08/706621.png) ![tax-practitioners (2)](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20524%20523'%3E%3C/svg%3E) ![tax-practitioners (2)](https://www.geekbooks.com.au/wp-content/uploads/2023/08/tax-practitioners-2-1.png) ![get-certifie](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20674%20234'%3E%3C/svg%3E) ![get-certifie](https://www.geekbooks.com.au/wp-content/uploads/2023/08/get-certifie.svg) #### CONTACT - [Suite 2201 Level 22, Tower Two Westfield, 101 Grafton Street, Bondi Junction, NSW, Australia](https://www.google.com/maps/place/Geekbooks/@-33.8913462,151.2482178,18z/data=!3m1!5s0x6b12adf17f9e5a59:0x64dca85364ae72e4!4m6!3m5!1s0x6b12ad6ab3b85fd9:0x378cc445ed007edb!8m2!3d-33.8913574!4d151.2506962!16s%2Fg%2F11ghs8ps0y?entry=ttu) - [02 9158 3591](tel:0291583591) - [admin@geekbooks.com.au](mailto:admin@geekbooks.com.au) ![footerlogos](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20303%2079'%3E%3C/svg%3E) ![footerlogos](https://www.geekbooks.com.au/wp-content/uploads/2023/08/footerlogos.png) ![GeekBooks](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20213%2096'%3E%3C/svg%3E) ![GeekBooks](https://www.geekbooks.com.au/wp-content/uploads/2023/08/flogo_1.png) © Geek Books 2024 \\| All Rights Reserved Type your Message ![wpChatIcon](https://www.geekbooks.com.au/wp-content/uploads/2024/02/geeks-agent.png) × ![]()
Readable Markdown	Keeping track of your finances is essential for any business, large and small. This is particularly vital for small companies, where individual sales and expenses can make far more of an impact on their profits and losses than they would in huge enterprise businesses. One of the forms of reporting and documentation that should be top of your list of priorities is your profit and loss statement – also referred to as a P\&L. Whether you’re new to business or you’ve been coasting by on less formal reporting in the past, using the proper tools can be a huge benefit to your company. We’re here to talk you through what a profit and loss statement is, how to do one, and why they are so important to have. Read on now to find out all the details: ## What is a profit and loss statement? The first stage in knowing how to create a P\&L statement is knowing what a profit and loss statement is. As the name suggests, this form of report is a financial statement. P\&L documents can be used to officially highlight the profits and expenses of your business in the past year. At its most basic, a profit and loss statement lists a simplified version of your combined sales and combined expenses and provides a calculation of how much profit or loss your business is making currently. Businesses are required to complete a profit and loss statement each year. It’s good practice for companies of all shapes and sizes to be fully aware of their profitability and to have a good grip on their finances in general. Periodic P\&Ls are the standard review that businesses must complete. ## Why is a profit and loss statement so important? Having a profit and loss statement is important for several reasons. Firstly, you’re required to complete one periodically – once per quarter – to prepare a Business Activity Statements and at the Financial Year End for your business tax return. If you’re seeking funding through a lender, you’ll also need to have an up-to-date P\&L statement, so they have a good idea of the health of your business, as well as projected Budgeted P\&L with your projected profits and losses. ![a man sitting a preparing a P\&L statement](https://www.geekbooks.com.au/wp-content/uploads/2021/05/how-to-prepare-a-PL-statement.png) Preparing a profit and loss statement is a relatively easy task if you have all the information to hand. Our steps on how to create a profit and loss statement below cover all you need to know to complete your first review: ### Set out the required categories At their most basic, a P\&L statement should be separated into four specific categories that are easy to view and understand at a glance. Whether you’re doing a first rough draft on paper or creating a spreadsheet, here are what your categories should look like: ### Sales Any total Products or Services sold go in this category. Cost of Goods Sold Include all Purchases used in producing your sales items. Direct Costs, expenses associated in the producing your sale items. Gross Profit This item is the Total Sales less the Cost of Goods Sold, giving you the gross trading position of the business. ### Expenses All your overhead business expenses, from accountant fees to insurance, rent to wages, is included under expenses. These can then be sub-categorised according to the kind of expenses they are – Motor Vehicle expenses, office expenses, marketing, and miscellaneous. ### Total Expenses This is the total of your expenses when added together. ### Net Profit Your net profit is calculated last and is your gross profit with all overhead expenses subtracted. Don’t worry about filling out everything yet – the first step is laying out those categories and having a basic understanding of what each one contains. ![business people gathering financial data to prepare a P\&L statement](https://www.geekbooks.com.au/wp-content/uploads/2021/05/how-to-gather-financial-data-for-a-PL-statement.png) ### Gather all the necessary financial information Once you’ve got everything laid out, it’s far easier to sort your expenses and profits into their specific columns. For quarterly P\&L statements, you should carefully go back through all recorded expenses and profits and add them individually into your statement. If you’re carrying out a Budgeted P\&L statement, you’re creating a projection of your income and outgoings. It’s crucial that you divide these up in the same way you would for a periodic P\&L statement to ensure the best accuracy possible. ### Calculate your income and expenses Once you’ve filled out your first two categories, you can calculate both your total expenses and overall net profit. Add together all your expenses to reach your total expense number, and then subtract this amount from the gross profit to access your net profit. ![icon graphs showing the P\&L statement data and how to interpret it](https://www.geekbooks.com.au/wp-content/uploads/2021/05/how-to-utilise-the-information-for-a-PL-Statement.png) ### Utilise your P\&L insight for business needs and requirements Once you’ve completed all sections of your profit and loss statement and you’ve double-checked its accuracy, you can then utilise your review for official purposes. This includes filling out your tax return, as well as seeking lenders of investors for your business. An where to invest your monies to grow your business. ## Do I have to carry out profit and loss statements in-house? Many small businesses assume that P\&L statements need to be carried out in-house. But if you aren’t aware of how to write a profit and loss statement, or you’d like an expert opinion, working with a trained accountant is your best option. As an essential quarterly report and review, P\&L statements are vitally important – but learning how to make a profit and loss statement can take time away from other necessary business matters. ### Work with Geekbooks today to make P\&L easy As business finance experts, Geekbooks is the ideal choice to support you in creating P\&L statements. Our professional team are on hand to ensure everything is completed on time and to all required standards. Need a P\&L statement or looking for advice on a pro forma P\&L? Chat with us today to find out how we could help. ![the steps to creating a P\&L statement - infographic](https://www.geekbooks.com.au/wp-content/uploads/2021/05/PL-statement-Infographic-geekbooks.png)
Shard	15 (laksa)
Root Hash	10065483105356066815
Unparsed URL	au,com,geekbooks!www,/how-to-create-a-pl-statement/ s443