Updated for 2025 • SelfEmployedDocs

Self-Employed Profit and Loss Statement (Simple Template + How to Use It)

If you’re self-employed, sooner or later someone will ask you for a profit and loss statement — usually a landlord, lender, accountant, or tax preparer.

And here’s the good news: a P&L doesn’t need to be complicated. In fact, you can create a clean, believable one using a simple formula.

Quick answer:
A self-employed profit and loss statement lists your total income minus your business expenses for a specific period (usually monthly or yearly). Income – Expenses = Net Profit.

What a Profit and Loss Statement Actually Shows

A P&L is just a breakdown of:

Total money you earned (income)
Total money you spent to run your business (expenses)
Your net income after costs

That’s it. No accounting degree needed.

Simple Profit and Loss Formula (2025)

Net Profit = Total Income – Total Expenses

If you earned $3,500 and spent $500 on mileage, gear, and supplies:

$3,500 – $500 = $3,000 Net Profit

That $3,000 is your “official” income for the month.

Self-Employed P&L Template (Copy This)

You can paste this into Notes, Word, Google Docs, or anywhere:

Self-Employed Profit & Loss Statement

Name: [Your Full Name]
Business Name (optional): [Your Name or DBA]
Period Covered: [Month/Year or Date Range]

Total Income: $_________
Total Business Expenses: $_________
Net Profit: $_________

Description of Work: [Short description of what you do]
Signature (optional): ___________________

That’s literally all most places need.

What counts as “income” for a P&L?

gig work payouts (DoorDash, Uber, Instacart, etc.)
freelance payments
cash jobs (as long as you earned it)
Zelle / Cash App / Venmo work payments
client invoices

If you earned it through work — it counts.

Common expenses you can include

gas and mileage
supplies
software
equipment
phone bill portion
repairs

Simple rule: if you needed it for work, list it.

Why a Pay Stub Works Better for Most Applications

A profit and loss statement is useful, but:

it’s not standardized
everyone formats it differently
landlords prefer something that “looks official”

That’s why most people pair a P&L with a self-employed pay stub.

Need a clean pay stub based on your P&L?

Enter your income, download your PDF, and attach it with your profit and loss statement for a complete proof-of-income package.

Generate My Pay Stub →

How to Make a Monthly P&L (Step-by-Step)

STEP 1 — Add up all income

Total everything you earned for the month from gigs, clients, or jobs.

STEP 2 — Add up all expenses

List only what you spent to earn that income.

STEP 3 — Subtract expenses from income

This gives you your net profit (your take-home income).

STEP 4 — Format it cleanly

Use the template above to keep everything organized.

FAQ: P&L Statements for Self-Employed Workers

Do apartments accept a P&L?

Sometimes — but pairing it with a pay stub or bank statements makes it much stronger and easier to understand.

How often should I create a profit and loss statement?

Once a month is ideal. Many gig workers also do one per quarter.

Do I need receipts for everything?

Not always, but it’s smart to have a general record of expenses in case someone asks.

Is a P&L the same as a tax return?

No. A P&L is a simple statement you prepare yourself. A tax return is official IRS documentation.

Need clean documentation for your self-employed income? Start at the homepage, create a pay stub, or visit the About and Contact pages.