Practical worksheet

Profit and loss template

See whether sales covered the costs of running your business over a chosen period.

Last reviewed 2 October 2026

Before you start

Choose a month or quarter. Use the same GST and accounting basis for every line, and reconcile figures with your records.

A busy business can still make a loss. This worksheet separates direct costs from overhead so you can see where the result changes.

Complete it monthly, then compare with the previous period and your budget.

You will see gross profit, operating costs and the result for the period. A profit does not mean that amount is in the bank.

Each prompt explains what to enter. The example is a guide, not a target for your business.

01. Period and sales

Record the dates and total sales earned in this period, by product or service if useful.

April sales: 80 jobs at an average $300 before GST = $24,000.

02. Direct costs

Add materials, purchases and job-specific labour used to make those sales.

Parts $7,000 and job labour $5,000 = $12,000.

03. Gross profit

Subtract direct costs from sales. Explain any change in price, volume or material cost.

$24,000 sales less $12,000 direct costs = $12,000 gross profit.

04. Operating expenses

List rent, administration, insurance, marketing and other running costs for the period.

Rent $3,000, administration $2,000 and other costs $2,500 = $7,500.

05. Result and action

Calculate the period result, note items needing accounting treatment, and choose one action to investigate.

$12,000 less $7,500 = $4,500 before other items and tax. Ask your accountant how depreciation is recorded.

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This worksheet is general planning information. Ask a qualified accountant, tax agent or lawyer where your decision needs specialist advice.