I am happy to share the Profit and Loss template that I use in creating financial reports but my template is only one of many on the web. What has real value is sharing the what and how of a P& L. Nonetheless, I’ll attach my restaurant profit and loss template here as well.
A P&L is a statement of incomes and expenses. At the very top we have the total of all incomes, broken down into broad categories that are applicable to your business. Next to each category is the percentage of each category to the sum total and the specific dollar amount that category contributed.
So for example, it would look something like this:
Total: $87,500
Income:
Food Sales: $35,000 40%
Liquor: $35,000 40%
Catering: $17,500 20%
Total: $87,500 100%
Expenses:
Food COGS (cost of goods sold) $8,750 25% (of food sales)
Liquor COGS $7,000 20% (of liquor sales)
Labor (fixed and variable) $21,875 20% (of total sales including taxes and benefits)
Rent $8,750 10% (of gross or total sales)
Marketing $4,375 5% (of gross or total sales)
Total: $50,750
Net Income: $36,750 42%
This is a rather simplified example and the numbers are not typical, but it does provide an opportunity to work through a P &L in a way that it becomes a tool that we can all use. In other words, you no longer need an accounting degree to understand financial reports.
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