What is a Profit and Loss Statement?

A profit and loss statement (also known as internal income statement or P&L statement) refers to a summary of a companies´ revenues, costs and expenses during a certain period of time. It helps the decision-makers to visualize the revenues and expenses of the company over a certain period of time.

The profit and loss statements usually are more detailed than an income statement which can be accessed by the public. With a detailed profit and loss statement, it is easier for the management to make data-driven decisions. For example, when management identifies that the marketing department expenses could be increased to attract more customers and leads.

At Open as App, we strive to help businesses in their digital transformation, and we believe that the Profit and Loss statement app will help decision-makers to make data-driven decisions faster and more easily.

Profit and Loss Statement App Benefits

Usually P&L statements are based on complex data in an excel sheet. With our useful app template you can turn your excel spreadsheet into a profit and loss statement app.

• You will have easy access to your information via the app.
• Your management team will be provided with answers more quickly, and therefore can make data-driven decisions faster.
• You can share the information with your colleagues of the management in just a few clicks. (They will have access to the app and can print the result, but they will not be able to alter your data without your consent)

Don’t hesitate to share with us how the app Profit and Loss Statement helped you and how we could further improve it to help you even more.

A few words about data security

All information you enter is confidential and will not be stored by us. Your entries are only visible to you and are not stored in the app. If you want to keep your calculation data, you can create a PDF in the app’s menu under Print or select “Save data” in the menu, set your settings to private and save.

Useful Finance Apps

Besides the Profit and Loss Statement App, you have a variety of other options to improve finance workflows.

• Investment Tracking App
• Interest Rate Calculator App
• Loan Calculator App

You need more options? Learn how to create your own list app.