Landscaping Profit And Loss Statement Template (+Free PDF Download)

Many landscaping companies struggle to keep their financial records current and don’t have the time or knowledge to create a profit and loss statement (P&L) from scratch.

A poorly managed P&L statement can mean missed opportunities, overspending, and difficulty getting financing when you need it. Our free P&L template provides clarity and control over your finances.

Download the template now to get accurate business financial management and avoid business mistakes.

Introducing Your Landscaping Profit and Loss Statement Template

Keeping your financial records up to date is key to both large and small landscaping businesses. A profit and loss statement (P&L) can help you track income, expenses and profitability. This free P&L template makes it easy, even without accounting experience.

The template includes several key sections:

• Revenue: List all income from your landscaping services.

• Operating Expenses: Categorize labor, materials and overhead.

• Cost of Goods Sold (COGS): List direct service delivery costs.

• Gross Profit: Revenue minus COGS.

• Operating Income: Core operations income by subtracting operating expenses from gross profit.

• Net Income: Total revenue minus total expenses.

How to use a profit and loss statement:

1. Fill in your revenue from all landscaping jobs. 

2. Categorize and enter your operating expenses and ensure you cover all costs. 

3. Add your COGS to get direct service costs accurate. 

The template helps to calculate your net income and give you a clear view of your financials.

Customize the template for your landscaping business by adjusting categories and sections as needed to fit your business. This will give you more precise insights and make better decisions.

Use this template to organize your financials and grow your landscaping business.

What is a Profit and Loss Statement?

A profit and loss statement (P&L), also known as an income statement, is a financial document that summarises the revenues, costs and expenses over a period of time. Think of it as a report card for your business’s financials. The key parts of a P&L statement are:

• Income: Business income from your landscaping services. Tracking the company’s income is key to measuring financial performance. 

• Expenses: Costs of running the business.

• Profit or Loss: After subtracting expenses from income, hopefully, some business profit!

Using your P&L statement helps you make business decisions. This important tool also helps you track financials and identify areas for improvement.

Now let’s understand why a landscaping business needs a profit and loss template.

Why Do Landscaping Businesses Need a Profit and Loss Template?

A profit and loss template is crucial for landscaping businesses to keep financial records accurate and make informed decisions. This tool helps track income, expenses, and profitability and is a key financial statement for the business's financial health.

Benefit 1: Using a P&L template lets you see what services are profitable and need improvement. It helps you make informed decisions on pricing, staffing, and investments, adjusting your financial plans. Additionally, it prepares you for tax season and makes it easier to secure loans by providing a comprehensive financial picture of your company's profitability.

Benefit 2: A P&L template helps you monitor cash flow to avoid overspending and track operating expenses to manage budgets effectively. By closely monitoring your finances, you can ensure your business stays within budget and maintains a healthy cash flow.

Benefit 3: Simplifying financial management with a P&L template allows you to use data to forecast financials and plan for growth. This structured approach to financial reporting helps you make strategic decisions that drive business expansion and success.

Landscape landscaping businesses can use a P&L template to organize their financials and focus on growth.

Now let’s talk about common mistakes and challenges in landscaping finances.

Common Mistakes and Challenges in Landscaping Finances

Landscaping businesses face many financial difficulties. If not addressed, these can hinder growth and profitability.

Mistake 1: Landscaping businesses often fail to track expenses properly. This includes misclassifying expenses, missing hidden costs, depreciation, and not reviewing the P&L statement regularly. Additionally, they might overlook interest and other non-operating expenses affecting net income.

Mistake 2: Time constraints and a lack of accounting skills can pose significant challenges. Business owners often struggle to create accurate financial projections for strategic planning and growth.

Mistake 3: Another common mistake is not separating personal and business finances. This can lead to confusion and inaccurate financial metrics. Additionally, ignoring seasonal fluctuations in income and expenses can result in financial mismanagement and cash flow problems.

Now that you know the common mistakes and challenges, landscaping businesses can take action to improve their financials.

Let’s learn how to take your financials to the next level.

Take Your Financial Management to the Next Step

Managing your landscaping business finances manually is difficult and error-prone.

Common mistakes like not tracking expenses properly or misclassifying costs will hinder your business growth.

Aspire’s software solves this by simplifying reporting, integrating it with your accounting software, and giving you deeper financial insights. Furthermore, Aspire is far more accurate than using Google Sheets or a Microsoft Excel template.

Also, a balance sheet with the P&L is key to a full financial picture.

Protect your profits with real-time job cost data:

• Compare estimated labor, material and other direct costs to actual costs.

• Price profitably with visibility into any project or contract.

Enable data-driven business decisions:

• Make business plan decisions with data, not assumptions.

• Use Aspire’s job costing in real-time to make business decisions.

• See your job costs by division, service type, property, manager or crew leader.

Streamline your financial reporting:

• The platform ensures consistent bids by including your company’s markups and profits.

• Aspire’s electronic schedule board for real-time ticket management and job progress visibility.

• Crew Mobile app to report labor hours and materials from the field.

Profitable pricing and historical performance insights:

• Aspire puts all your business in one place.

• Adjust bidding templates, production factors and markups to get consistent and profitable estimates.

• Make forecasting and planning easy with access to historical job data and contracts.

Impactful, data-driven decisions:

• Aspire shows you where your business makes the most profit.

• Make contract renewal and project bid decisions with data.

• Grow and expand with confidence.

Monitor cash flow:

• Aspire’s tools help you manage cash flow.

• A cash flow statement is key to financial health and knowing how much cash your company generates and consumes over time.

With Aspire, you can take your financials to the next level and run your landscaping business profitably to fuel lasting growth.

The Bottom Line

Financial management is key to your landscaping business. A profit and loss statement template helps you track total income, expenses and profit. Financials are key to understanding your business and making decisions.

Don’t make financial mistakes. Use Aspire to simplify reporting and gain deeper insights. Net profit is key to business success and should be reviewed regularly to stay profitable.

Check out our other resources for more information on growing your profit margins.

Book a free demo with Aspire today.