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Profit and Loss Template

One P&L per project, a summary for all of them.

This free profit and loss template for small businesses and freelancers gives every project, client or side hustle its own monthly P&L, splits shared costs by percentage and adds everything up on a summary sheet. Excel file, works in Google Sheets.

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6 sheets: How to use · Summary · Project 1–3 · Shared costs. Example numbers included so you can see the formulas work.

Key takeaways

  • Net profit = total income − total expenses; profit margin = net profit ÷ total income.
  • Each project sheet has 3 income lines, 6 expense lines and a shared-cost line, by month, with a year total.
  • Shared bills are entered once with a % per project, so no project carries the whole cost.
  • The Summary sheet compares income, expenses, profit and margin across all projects for the year.
Preview

What a project sheet looks like (first quarter, example data)

LineJanFebMarQ1
Client work / sales$1,200$1,250$1,300$3,750
Total income$1,200$1,250$1,300$3,750
Software & tools$60$60$60$180
Shared costs (your share)$51$51$51$153
Total expenses$111$111$111$333
Net profit$1,089$1,139$1,189$3,417
Profit margin90.8%91.1%91.5%91.1%
Shared costs here: a $20 server (50%), $60 design software (40%) and $50 phone plan (34%) = $51 a month.
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Hustlay splitting one shared bill 50/30/20 across three projects
The same idea without a spreadsheet: one shared bill split 50/30/20 across three projects in Hustlay.

Tired of updating spreadsheets every month? Hustlay keeps the same P&L per project, splits shared bills automatically and adds profit per hour.

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How to use it

Fill in the template in four steps

  1. Name your projects. Overwrite cell A1 on each project sheet — a client, a shop, a channel. The Summary picks the names up.
  2. Enter income and expenses by month. Totals, net profit and margin calculate themselves.
  3. Add shared bills once. On “Shared costs”, give each bill a monthly amount and a % per project; the check column should read 100.
  4. Read the Summary. The project with the most revenue isn't always the one with the most profit — that's the point.

Related: shared expense split calculator · side hustle profit calculator · tracking multiple businesses

FAQ

Profit and loss template: common questions

A profit and loss (P&L) statement lists income and expenses for a period and shows the profit or loss left over. It answers one question: did this business, client or project make money this month, quarter or year?

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The same P&L, without the spreadsheet.

Hustlay gives every project its own P&L, splits shared bills for you and shows profit per hour. Free plan forever.

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