From the course: Excel for Accountants

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Quarterly profit and loss tracking in Excel

Quarterly profit and loss tracking in Excel - Microsoft Excel Tutorial

From the course: Excel for Accountants

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Quarterly profit and loss tracking in Excel

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- [Instructor] Once you've mastered entering transactions into your income records through QuickBooks or through Excel if you choose to forego QuickBooks altogether, you'd probably want to start doing some sort of analysis. So, one of the key tools that you'll want to use is a profit and loss statement. You'll probably want this on a monthly basis. Now, if we were to choose to do this in QuickBooks, we could. QuickBooks offers a handy feature for computing our profit and loss. So, in our simplified version, down here, we see profit and loss for the year for the firm is $100. We have $1,100 in income from two different transactions and $1,000 in expenses. And we could adjust this for the last 30 days, the year, the month, whatever, okay? Now, as an alternative to that, we could do a little bit more advanced analysis in Excel. I'm in the 02_03_Begin Excel exercise folder. If you look at the P&L Summary tab at the bottom here, what you'll see is that we've taken all of our different…

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