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Restaurant Monthly Profit And Loss Statement Template For Excel – If you run a restaurant, you’ve heard of the profit and loss statement (or “income statement”). Arguably the most important financial statement of all, your profit and loss (P&L) provides a clear picture of your restaurant’s profitability by listing all of your income and expenses.
But what exactly are profits and losses? What is included in the restaurant’s profit and loss? How should you analyze the restaurant’s profit and losses?
Restaurant Monthly Profit And Loss Statement Template For Excel
Whether you’re preparing financial projections for a restaurant business plan or just want to understand your restaurant’s finances, this article will tell you everything you need to know about the profit and loss statement. Let’s go dive!
Monthly Profit & Loss Statement For A Small Business
A profit and loss (P&L) statement, also known as an “income statement,” is one of three financial statements that a company must regularly update and prepare. These 3 financial statements are:
Profit and loss are certainly the most important of all financial statements because they show the company’s income and expenses over a period of time (month, quarter or year).
We therefore use profits and losses to understand a company’s ability to generate profit and, more generally, to assess its financial health. For example, we want to increase the revenue of a restaurant by increasing or decreasing expenses.
A restaurant income statement, like any other business, includes all income and expenses over a period of time. To create an income statement, add up all income (total taxes), subtract all costs (COGS, labor costs, rent, etc.) to arrive at net profit.
Restaurant P&l Templates
This section will include all of your restaurant sales. Therefore, you should add all the receipts and payments from the customer and any other income that you received during the period.
We recommend dividing sales into different categories to get a better look at your restaurant’s main revenue streams. For example, you can segment product sales (food x drinks). If you run a chain restaurant, you can also differentiate between dine-in and takeout.
The sum of the variable costs is to pay for the preparation of the food and drink that you serve to your customers. For a restaurant, this includes food from the restaurant, drinks (bottles, beer, soda, etc.).
COGS also includes variable costs such as card processing fees (2-3% payable to Visa, Mastercard, Amex, etc.) when your customers pay by card.
Profit And Loss Statement Template
This includes all restaurant staff costs: salaries, taxes and benefits (social security), and any bonuses. Labor costs can also be divided between different teams (e.g. servers, kitchen, management).
Restaurant operating expenses are all the expenses you will have to incur for the day-to-day operations of your restaurant. This may include marketing, rent, rental costs, accounting, insurance, garbage collection, etc.
There is no right or wrong structure: choose the presentation that makes the most sense for you to analyze the financial health of your restaurant. For example, you might have: operations (collection, cleaning services, etc.), marketing, rent (obtaining and utility bills), and other (insurance, accounting, etc.
Non-operating expenses are expenses that are not part of your daily operations. For a restaurant, non-operating expenses primarily include: depreciation and amortization, interest on debt, and corporate taxes.
Restaurant Business Income Statement Generator Automated
A company’s profit and loss statement can take many forms. For example, your accountant can prepare a simplified version of your profits and losses to submit to the IRS as part of your annual tax filing obligations.
In addition to the annual income tax that all businesses must comply with, you will also need to prepare a more detailed version of your restaurant’s profit and loss, in order to assess your business’s financial profitability and ability to generate profits.
Here are the key financial metrics and ratios to understand when analyzing your restaurant P&L (see the full list here);
Operating profit, also known as EBIT (earnings before interest and taxes), is your total sales less all variables, labor, costs, and depreciation and amortization.
Demystifying The Restaurant Cost Structure: How To Read P&l Statements
It is the sum of all sales minus all operating and non-operating costs. Profit, your restaurant is profitable. Instead, it is called a net loss, if it is negative (your restaurant is making a loss, i.e. you spend more than you earn).
Do you want to create solid financial projections for your restaurant? Are you preparing financial statements for your business plan? Whether you’re looking for investors or applying for an SBA loan, download our restaurant finance template below:
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P&l Meaning And Definition: What’s Profit And Loss Statement?
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Fast Casual Restaurant Projection Template
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Profit And Loss Statement Template In Excel
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Business Model Opening Restaurant Projected Profit And Loss Statement Introduction Pdf
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Comparative Income Statement
The cookie installed by Google Analytics reports data on how visitors use the page and at the same time creates an analytical report on the website’s performance. Some of the information collected includes the number of visitors, the origin and the pages they find from the author. We’ve compiled a comprehensive list of profit and loss models for small businesses. Each template is free, printable, and ready to download and edit.
On this page, the most important profit and loss template, a sample annual profit and loss statement, a profit and loss dashboard, and a profit and loss template for small business types have been organized.
This simple profit and loss template is available in multiple formats and includes sections for calculating business income and expense over a customizable period. Examples of costs include employee wages, rent, utilities, insurance costs, supplies, and taxes. Use this to create a detailed list of business expenses and calculate the total net profit.
Create a twelve-month profit and loss statement that tracks monthly and annual expenses and income. After entering your data into the spreadsheet, the model calculates the totals and generates graphs that show gross profit, total expenses, and profit or loss over time. The correct item template includes examples of common expenses and income sources for a small business. For convenience, group expenses into categories such as employee wages, rent, capital, vehicle expenses, and taxes.
Download Free Monthly P&l Template [2024 Edition]
Use this template to create an income statement template for your annual financial projection
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