How do you do a P&L in Excel?

Excel offers a ready-made P&L template that you can use to ease your business's financial analysis in spreadsheets. If you wish to create your own simple P&L report in Excel, follow these steps:

1. Start by inserting the heading and the period you will prepare the report.
2. Create three sections, namely Revenue, Expenses, and Summary.
3. Add all the revenues such as service, interest, and sales revenue under the revenue section.
4. Sum up all the revenues using the SUM function.
5. Similarly, add all expenses like advertisements and employee expenses and compute their total using the SUM formula.
6. Calculate the profit or loss under the summary section using the formula: Net Profit/Loss = Net Revenue - Total Expenditures
7. Print your P&L report after completion.