2025 Profit & Loss Statement Preparation and Reconciliation2025 Profit & Loss Statement Preparation and Reconciliation
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MEHEDI HASAN's avatar
MEHEDI HASAN FAHIM
• Sep 29
I prepared the full-year 2025 Profit & Loss statement (January to December) for a small business with multiple income streams, turning raw transactions into a clear report the owner could use to understand profitability.
Scope of work: Set up income categories to separate product sales, service revenue, and other income
Structured Cost of Sales (product purchases, subcontractors, supplies and materials) so gross profit was accurate
Categorized operating expenses, including marketing, bank charges, commissions and fees, subscriptions, insurance, rent, utilities, travel, vehicle costs, and web hosting
Split interest expense by source (credit card and bank loan) and grouped legal and accounting fees under professional fees
Recorded depreciation on the company vehicle so net earnings reflected true costs
Reconciled the P&L with the balance sheet so the two statements agree
Result The owner received a clean, well-organized report showing revenue, gross profit, expenses, and net earnings. It made it easy to see where money was coming from and where it was going, and it was ready for tax preparation, loan applications, and budgeting.
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