All Categories > Tax Sheets > How to Use the Profit & Loss Report in the Finance Planner for Creatives

How to Use the Profit & Loss Report in the Finance Planner for Creatives

Your Profit & Loss Report (P&L) in the Finance Planner for Creatives is a ready-to-print, auto-generated snapshot of your business finances—perfect for tax time, quarterly reviews, or client records.

🧾 What It Does

This report automatically pulls in all taxable income and business expenses you’ve entered throughout the year—no manual input needed.

🗓️ Date Range

The report is set to span January 1 to December 31, or adjusts based on your earliest taxable income entry. This ensures your totals reflect only the relevant tax year.

Note: The year shown on the sheet is autopopulated based on your income entries.

🧍 Add Your Info

Simply add your name or business name at the top of the sheet before printing or saving it as a PDF.

📊 Two Report Formats

The sheet provides two easy-to-read summaries:

1. Annual Totals

Condensed year-end summary of taxable income and business expenses
Organized by subcategory, with clear category breaks for easy scanning

2. Monthly Breakdown

A more detailed view showing totals per subcategory by month
Helps you track trends, identify high-cost periods, and compare monthly patterns

⚠️ Note: If you add or remove subcategories in your dropdowns, the category dividers may not align perfectly. The report will still function, but the visual grouping might need minor adjustments.

Learn about the taxes sheet here.

🖨️ Ready to Print

Whether you're prepping for taxes or sending records to an accountant, just review and print—no extra formatting needed. See here for more printing tips →

All Categories > Tax Sheets > How to Use the Taxes Sheet in the Finance Planner for Creatives

How to Use the Taxes Sheet in the Finance Planner for Creatives

The Taxes sheet in the Finance Planner for Creatives is your central hub for planning, saving, and tracking your estimated quarterly taxes—so you're never caught off guard come tax time.

🎯 What It Helps You Do

Estimate how much to save each month and quarter
Track how much you've actually set aside
Stay on target with your tax savings goals
Keep a clear record of what you owe, what you’ve saved, and what you’ve already paid

✏️ What to Edit

Only modify the bordered cells—these are specifically designed for user input to ensure the rest of the sheet calculates and functions correctly.

See more on editing cells here →

🧮 Set Your Estimated Tax Rates

Enter your estimated federal and state tax rates at the top of the sheet.
These rates determine how much of your taxable income you’ll need to set aside for estimated quarterly taxes.
Tip: It’s best to consult with a tax professional to determine the most accurate rates for your situation.

💰 Plan + Save Each Month

As you log taxable income and business expenses, the sheet will estimate how much you should save each month and quarter.
You can also input how much you’ve actually saved to stay on track throughout the year.

🧾 Document Your Tax Payments

Use the section at the bottom to record your actual federal and state tax dues and payments.
Keep a clean record of when and how much you’ve paid toward your quarterly or annual taxes and easily share it with your accountant.

✅ Staying proactive with this sheet helps reduce tax-time stress and gives you a real-time picture of where you stand—no surprises.

Click here for sharing + printing tips →

Click here to learn about the Profit and Loss sheet →

How to Use the Profit & Loss Report in the Finance Planner for Creatives