The Profit and Loss Statement.
This report tells the story of your business. You just need to learn how to read it."
〰️
This report tells the story of your business. You just need to learn how to read it." 〰️
Numbers don’t have to be scary — especially when they’re telling you how to build the business you want."
The P&L, or Profit and Loss statement, is like your business’s report card.
It tells you what you’re earning, spending, and what’s left over — profit or loss — in a given time period.
There are 3 parts you want to look at:
Revenue – everything you brought in (top line)
Expenses – everything that went out
Net Profit – what’s left over after expenses
"It’s a simple formula: Income – Expenses = Profit.
If the number’s negative? That’s a loss. And no, you’re not failing — it just means something needs attention."
What to look for:
"Look for trends — is your revenue growing month to month?
Are your expenses steady, or are some areas creeping up?
Watch these categories:
Cost of Goods Sold — are your margins healthy?
Operating Expenses — any subscriptions or costs you can trim?
Net Profit — is it consistent? Are you setting money aside for taxes?
What now?:
"If this still feels like a foreign language — that’s where I come in.
At Reconcile This!, I help business owners make sense of the numbers and use them to grow."
🧾 "Want me to walk through your P&L with you?
Let’s talk: amyers@reconcilethis.org | www.reconcilethis.org