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Profit and Loss Statement Generator

Add line items for revenue, COGS, operating expenses, and other costs. The P&L preview updates live and is print-ready.

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Used to estimate income tax expense

Revenue

  • $
  • $

Cost of goods sold

  • $
  • $

Operating expenses

  • $
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Other expenses (interest, depreciation)

  • $
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Live preview

Acme Co.

Income Statement

For the year ended December 31, 2026

Revenue
Product sales$500,000.00
Service revenue$120,000.00
Total revenue$620,000.00
Cost of goods sold
Cost of materials$180,000.00
Direct labor$90,000.00
Total COGS$270,000.00
Gross profit$350,000.00
Operating expenses
Salaries & wages$120,000.00
Rent$36,000.00
Marketing$24,000.00
Software & subscriptions$12,000.00
Total operating expenses$192,000.00
Operating income$158,000.00
Other expenses
Interest expense$4,000.00
Depreciation$8,000.00
Total other expenses$12,000.00
Income before tax$146,000.00
Income tax expense (21%)$30,660.00
Net income$115,340.00

Frequently asked questions

What is a profit and loss statement?

A P&L (also called an income statement) summarizes revenue, costs, and expenses over a period and ends in net income. It is one of the three core financial statements alongside the balance sheet and cash flow statement.

What goes on a P&L for a small business?

Revenue at the top, then cost of goods sold to compute gross profit. Below that, operating expenses (salaries, rent, marketing, software, insurance, etc.) to compute operating income. Finally, other items like interest, depreciation, and taxes get you to net income.

What is the difference between a P&L and a cash flow statement?

A P&L is accrual-based: it records revenue when earned and expenses when incurred, regardless of when cash moves. A cash flow statement only tracks actual cash in and out. A profitable company can run out of cash, and a cash-rich company can be losing money.

Should I use cash or accrual accounting?

Most very small businesses use cash (record when paid). Accrual is required for inventory-heavy businesses and for any company that does not qualify under the small-business gross receipts test ($32M for 2026). Accrual gives a more accurate operational picture; cash is simpler and matches your bank account.

How often should I generate a P&L?

Monthly is standard for active management; many founders look at it weekly during turnarounds. Quarterly P&Ls are required for most lenders, investors, and boards. Annual is for tax filing and external reporting.

How do I save this P&L as a PDF?

Click "Print / Save as PDF" and pick "Save as PDF" in the print dialog. The form, navigation, and FAQ are hidden in print, so you get a clean one- or two-page financial statement.

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