From the course: Excel for Accountants
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P&L in Excel - Microsoft Excel Tutorial
From the course: Excel for Accountants
P&L in Excel
- [Instructor] Now, let's look at using Excel for creating a profit and loss statement. This is a key task that almost every business has to do on a regular basis. To get started, I'm in the 01_04_Begin, Excel exercise folder. Now, if we look at the Income tab, the first tab on this sheet, what you'll see is we've essentially done a statement of income or the revenues that we bring in each month throughout the year. So in January for example, we brought in 50,000 in sales. In February, we brought in 63,098. In March 55,125, et cetera. Now, we can go through and we add up all of these different sales, whether it's from net sales, sale discount, sale returns, et cetera. We sum all of this up using our trustee If statement, and then we take into account our cost of goods sold, giving us our gross profit. We could go through and do this for the entire year or for part of the year, depending on where we are. So I'll just add, for example, our sales in September, and let's pretend we sell…
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