"Don't Panic: Filling Out a Profit and Loss statement for for Your Large or Small Business Is Easier Than You Think!"

Filling out a Profit and Loss statement for gig work (like Uber or DoorDash) or your larger business entity doesn’t have to be complicated. Here’s a quick, simple approach:

1. Pick a Timeframe
   Decide what period you’re reporting for—usually a month or a year.

2. Record Your Income

   • Add up all the money you’ve earned from the app(s).
   • Don’t forget to include tips.

3. List Your Expenses

   • Car expenses: Gas, car repairs, maintenance, insurance, registration.
   • Mileage: Keep track of miles driven for work (some people use an app or a logbook).
   • Phone costs: Data plans, phone bills (if used for work).
   • Other: Any items you buy strictly to do the job (e.g., delivery bags).

4. Calculate Your Profit (or Loss)

   • Total Income (step 2) minus Total Expenses (step 3) = Net Profit (if positive) or Net Loss (if negative).

5. Double-Check Your Numbers
   Make sure you haven’t missed any expenses or extra tips so your final tally is accurate.

That’s it! By following these steps, you’ll have a simple Profit and Loss statement showing how much you really made after covering the costs of driving.