Who needs a Monthly Profit and Loss Statement?
Monthly Profit and Loss Statement is a document, which is filled out by a business owner wishing to furnish the interested party with a monthly financial profit and loss report.
The statement summarizes revenues, costs, and expenses the company had during a month period.
What is the printable Profit and Loss Statement for?
The Monthly Profit Statement provides information on total expenditure and revenue, so as to eventually bring the person’s profit (or loss) from a business. This particular Profit and Loss form focuses on business expenses dividing them in 11 separate sections.
Is the Monthly Profit and Loss Statement accompanied by other forms?
Usually, the Profit and Loss Statement is accompanied by the balance sheet (conclusion, showing what is owned and owed at a given time) and the cash flow statement (showing changes in bills over a selected period). But in a case with Monthly Profit and Loss Statement, these additions will not matter since the reporting period is too limited.
When is Monthly Profit and Loss Statement due?
This form must be completed and provided as needed. A short period of time, which is included in it, implies that it will be filed in the month following the reporting period.
How do I fill out Monthly Profit and Loss Sheet?
You should provide information on the following topics in the simple profit and loss statement:
Income. The sum of your business income.
Business expenses including their specification:
- Credit/Debit card fees
- Equipment rental/lease
- Insurance expenses
- Office supplies expenses
- Postage & delivery
- Rent - office/Storage Space, etc.
- Supplies/materials expenses
- Utilities expenses
- Vehicle expenses
Also, you must specify the person who prepared the statement and the date of its filing.
Where do I send Monthly Profit and Loss Forms?
The signed and completed form is sent to the interested party. Most often, that will be your lender. However, it is necessary to make sure that the copy of the paper remains with you for your personal needs.