How do I calculate profit and loss in Excel?

To create a basic P&L manually, take the following steps:

Just plug in revenue and costs to your statement of profit and loss template to calculate your company’s profit by month or by year and the percentage change from a prior period. You’ll find profit and loss templates in Excel are easy to use and configure to any business in minutes—no accounting degree necessary.

The formula to calculate Profit/Loss by Single-step method is as follows: