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The Basics of a Profit u0026 Loss Income Statement for Small Business Owners

Be a "PROFITABLE" Badass Business Owner 119 views

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bWhat Profit & Loss Questions Do You Still Have So I Can Work Them into Future Videos? - Tammy/b
Comment from : @BadassBusinessOwners

WELL SAID, VERY SIMPLE AND STRAIGHT TO THE POINT
Comment from : @jbgoldmark2002

I'm a courier Because I'm not making or selling goods wouldn't my expenses and operational expenses be the same? Such as commercial vehicle rental costs and fuel? etc
Comment from : @Allen-g2d

Thank you for this video
Comment from : @imout671

Ive been running 3 businesses, one for 5 years and ive never heard of a P&l until i asked a bank for a $3,000 limit cc So here i am Thank you for this great explanation How do you categorize equipment like trucks, heavy equipment, tools etc That i paid cash for once and will last at least a decade but i use every day to do my work?
Comment from : @imout671

How can i get the a simple excel format of p&l please ?
Comment from : @ahmedjandali4209

I have a mechanic shop for 5 years, and I'm learning about P&L, Balance Sheets, Cash Flow, this video helped me a lot, thank you for sharing
Comment from : @adautoclinic3134

Should credit cards expenses allocated to like office supplies and etc be on the profit and lost under expenses ?
Comment from : @keesh2620

Thanks for clarifying
Comment from : @Carolina-now

I love your videos They’re so informative and easy to understand
Comment from : @chrisweber8751

Thank you for the simple explanation I'm so excited to watch more ❤❤
Comment from : @sandraa1923

Well explained Thank you so much
Comment from : @droppingpearl

Exceptionally explained
Comment from : @TayyabAli-u6e1x

U made it seem easy to understand
Comment from : @johnred6181

This is by far the best P/L video
Comment from : @dataodokpa5431

Terrific Thanks
Comment from : @howardhofer8233

thanks :)
Comment from : @carlosavilescordero8395

Awesome video, quick, efficient and comprehensive you're an educator Nice voice 😊
Comment from : @daniellelumpkin2974

I'm glad you exclude gross profit which I think it's an unnecessary number in most practical situations
Comment from : @thegoat6147

Is there a software you recommend to create the P&L statement or do we just use spreadsheet? I’m not so good with excel Maybe templates exist?
Comment from : @OtoLivingston

What happens when purchases are bigger than revenue? How does it affect the income statement
Comment from : @franklinmiranda4828

I absolutely love your explanation opened my eyes
Comment from : @LeylaKazazi-z8e

NAILED IT!! Thank you sssooooooo much
Comment from : @fixitfredhandyman

Excellent Resource Thanks for an easy-to-follow guide without dumbing it down
Comment from : @professorrivera3471

How does this work for a physical therapy clinic? I need a P and L done for three years to valuate my business as I want to sellIt is expensive to have these done! Thanks
Comment from : @leanoraism

I’ve watched a few videos explaining the income statement/ P&LbrAnd you were the only one that clarified labor costs (COGS) vs labor costs (Overheads)brSo appreciative, thank you!🙏🏻🙏🏻
Comment from : @jaslynanne1111

P&L made very clear, thank you for the explanation !
Comment from : @DoWithAbdou

Great presentation! Easy to understand Thank you Question: What kind of software can you recommend? I have VERY BASIC knowledge about accounting I deal with Buying, Mantaining and Renting Real Estate Thank you, again
Comment from : @maryhester1602

Like for examplebrSales ko po is credit 160,000brSales dscoutn 1800 & 2100credit br Paano gwin to minus ba ang credit na sales dscount ko po or paano?
Comment from : @edilynmanipis8899

Hllo pls sinong makaatulong sa akin po mali yung i/s ko po
Comment from : @edilynmanipis8899

My first time watching you videos Thank you this was great 👍 ohI love your YouTube channel name too 💪🏾💯
Comment from : @pherrarired5342

Great video, thanks for sharing your wisdom and knowledge I’m fuzzy on the COGS section with regard to taxes? What taxes are you referring to that should be in COGS? Is it the prior years taxes on profit? Some clarity would be appreciated TIA
Comment from : @njboesman

Thank you It was the best one l saw One question, if you need to prepare them with the monthly bank statements and you have money from the previous month, how do you make these calculations? Does it has to match the endings balance? I need to prepare some and been breaking my head for 3 weeks already How is it going to match if l cant use the balance of previous month Thanks in advance
Comment from : @charlessuez3996

Thank you!❤
Comment from : @Flipnred78

Thank you so much!
Comment from : @jinanonuevo7480

Here is another video on Paying Yourself as a Business Owner on your Profit & Loss if it helps: youtube/fC2_IZ2VPhI - Tammy
Comment from : @BadassBusinessOwners

Awesome! Thank you!!❤❤❤
Comment from : @umepervaiz1488

Really interesting thank you
Comment from : @JMarylin88

Thank you for this video Im always asked to give a P/L to my insurance Company and I try to avoid it ALOT lol this has really helped me along with finding the spreadsheet you created as well FOLLOWING FOR MORE GREAT INFORMATION!
Comment from : @builder157

Very helpful to my Christmas light business!
Comment from : @libertyprolights

WELL SAID, VERY SIMPLE AND STRAIGHT TO THE POINTGREAT VIDEO❤💯
Comment from : @bozink8343

Great Video This is exactly what i was looking for Do you have the blank template of that profit & loss statement?
Comment from : @tjyoursprinklerguy8846