Necessary for restaurants big or small, a profit and loss statement (P&L) shows you the total revenue and expenses of a business in a given period of time.
Simply, a P&L reflects your costs minus sales, and the result gives you an indication of your business’ financial health. A positive number shows you you’re doing well financially.
A negative number can show you it’s time to overhaul your business operations.
But it can be an overwhelming document. Learn how to make sense of your P&L now.