Profit and loss statement

Access your profit and loss statement anytime in QuickBooks.

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Profit and loss statement

Access your profit and loss statement anytime in QuickBooks.

Start my free trial

No credit card required

The profit and loss statement helps you keep your business financially fit.

Access your profit and loss statement
The profit and loss statement, also called the income statement, shows business owners, investors, and stockholders whether a company made a profit or operated at a loss over a specific period of time. Because QuickBooks tracks and organizes all of your accounting data, you can easily access your profit and loss statement to see revenue and expenses during a given period of time.

Make better business decisions
The profit and loss statement shows your total income, your gross profit, expenses, and your net income or net loss. QuickBooks makes it easy to access your profit and loss statement in order to evaluate where you can reduce expenses and grow revenue. You can click on any number in the total column to get a more detailed transaction list for that particular item, and QuickBooks will even calculate each expense as a percent of income so you can see where you are overspending or under-spending in a particular category.

Assess your financial health
The profit and loss statement is one of the three key financial statements used to assess whether a company is financially fit. The other two are the balance sheet and the cash flow statement. With QuickBooks, it’s easy to generate the reports and financial statements you need to run your business and customize them for your needs. Easily add sub-columns to your profit and loss statement, compare the current period to last month, compare the current period to the previous year, and more.

Understand the profit and loss statement.

The components of the profit and loss statement
Small business owners use the profit and loss statement, also known as the P&L statement or the income statement, for understanding a business’ revenues and expenses during a specific time period. The five components of the profit and loss statement are revenue, cost of goods sold, gross profit, operating expenses, and net income or net loss.

Insights from the profit and loss statement
The profit and loss statement compares income to expenses to display the amount of profit or loss during a specific time period. This is the best report to review to understand whether your business is profitable or losing money. Many small businesses choose to create monthly profit and loss statements to help them identify patterns and make smarter business decisions.

Uses for the profit and loss statement
The profit and loss statement, together with the balance sheet and cash flow statement, are the central financial reports for any business. They are used for financial projections, to estimate the viability of new projects, to control costs, and to set goals for the future. The profit and loss statement should be generated monthly in order to make fast decisions that impact your bottom line (net income).

Understand the profit and loss statement.

The components of the profit and loss statement
Small business owners use the profit and loss statement, also known as the P&L statement or the income statement, for understanding a business’ revenues and expenses during a specific time period. The five components of the profit and loss statement are revenue, cost of goods sold, gross profit, operating expenses, and net income or net loss.

Insights from the profit and loss statement
The profit and loss statement compares income to expenses to display the amount of profit or loss during a specific time period. This is the best report to review to understand whether your business is profitable or losing money. Many small businesses choose to create monthly profit and loss statements to help them identify patterns and make smarter business decisions.

Uses for the profit and loss statement
The profit and loss statement, together with the balance sheet and cash flow statement, are the central financial reports for any business. They are used for financial projections, to estimate the viability of new projects, to control costs, and to set goals for the future. The profit and loss statement should be generated monthly in order to make fast decisions that impact your bottom line (net income).

More than the profit and loss statement. Run your entire business with QuickBooks.

Create estimates and quotes
Many small business owners provide a quote or estimate to a prospective customer before starting a job. Create personalized, professional estimates that reflect your business and your brand. Once a new estimate is accepted, QuickBooks will convert the estimate to invoices for you.

Attach receipts to invoices
Do you incur expenses that you include on client invoices for reimbursement? It’s easy to attach receipts to invoices in QuickBooks. Snap a photo of the receipt and we’ll record the expense in your books. Then when you create the invoice, simply attach the receipt to it.

Create purchase orders
Easily create purchase orders, complete with custom PO numbers, with QuickBooks. Once an order is complete, QuickBooks automatically copies the items, quantities, and rates from your purchase order and turns it into a bill.

The Profit and Loss Statement in QuickBooks

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