Format of the Profit and Loss Statement for Service Related Businesses

Profit and Loss Statement for Service Related Businesses

Service related businesses require a different format than the traditional profit and loss statement AKA the income statement.  The traditional profit and loss focuses on sales of products and a corresponding cost of goods sold section to help the reader evaluate the gross margin.  But in service, the owner needs a profit and loss statement formatted to key in on overall productivity and costs of that productivity.

This content is for Bronze, Silver, One-Time and Contractor’s Diagnostic members only.
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