Profit and Loss Report Dashboard Template

The profit and loss (P&L) statement, also known as the income statement, is an important financial statement for a business that summarizes its total income and expenses in a specific time period. It gives an overview of the financial health of the business. It is more popular than a balance sheet or a cash flow statement as it focuses on profit (loss) and its components.

• It helps the business in the below aspects:
• To monitor revenue and profit growth over time
• To identify the categories where expenses can be cut down
• To compare the profit (revenue) with the previous year
• Plan the future budgets

The dashboard has two views:

• P&L Summary
• P&L Statement

The first tab summarizes the profit and loss statement, showcasing the profit and revenue growth trend over time and the components contributing to the expenses incurred by the business. The second tab is a typical profit and loss statement, with a breakdown of the company’s revenues, expenses, and profits/losses.

• Observing the profit trend over time can help in predicting future profitability. The budgets and other future planning can be done based on this. Revenue growth trends and expenses are also shown to ascertain the relation between profit, revenue, and cost.
• Profit can be increased only by increasing revenue and decreasing expenses. So the first step towards the latter is identifying areas where expenses can be reduced. Observing the expense pattern over time helps in gaining insights that could help in this.
• Comparing the profits with the same time last year can help the business understand how far it has grown in a year. If the numbers remain the same or lesser than that of the previous year, it is a cause for concern, and the business needs to investigate its reasons.
• Keeping an eye on how much of the expenses are left unpaid, and how much is partially paid is necessary for calculating the cash-in-hand requirements. Any financial planning can be done only after checking this figure.

KPIs

• Revenue, Cost, Margin
• MTD -This year Vs. PY
• Payment status
• Expense Breakdown

Conclusion

The insights from the dashboard help the business make decisions that control the cost of goods sold and the operating expenses to keep the profit margins intact.

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