Profit & Loss Tracker: Weekly, Monthly, Annual (Word DOCX)

Yes, using Google Sheets to track your profit and loss can be a good idea. Google Sheets is a free and easy-to-use tool that allows you to create and manage spreadsheets online. It can be a useful way to track your income, expenses, and overall profit and loss.

Additionally, Google Sheets allows you to share your spreadsheets with others, which can be helpful if you want to collaborate with others on your financial planning. You can also use it to create graphs and charts to visualize your financial data and make it easier to understand. Overall, using Google Sheets to track your profit and loss can be a convenient and effective way to manage your finances.

This is a way to automate your business transactions to flow into a standard profit / loss format. The data entry is

•  Date
•  Transaction Description (based on a dropdown menu that sources from your definitions for revenue and expense items)
•  Amount

All values are positive inherently, so if you enter a negative expense value, it would lower expenses.

An additional 5 items are there for 'other' cash in and out items so an actual cash flow per period can be displayed.

The reporting format shows a profit / loss statement on a weekly, monthly, and annual basis. The weekly and monthly reports show up to 2 years at a time and the annual shows up to 5 years at once.

There are visualizations for all time frames as well.

USE: Define line item names in the ‘weekly' tab, the start year on the ‘control' tab, and start entering transactions on the ‘data' tab. Note: This is a Google Sheet template. The file link is in the download document. A free Gmail account is required to use.