Managing your Finances: Profit and Loss

  • Profit & loss accounts are a summary of 12 months of business transactions
  • It provides a ‘bottom line’, clearly showing the profit – or loss – a business has created
  • There are numerous benefits to creating profit and loss accounts – including making it quicker and easier to fill out VAT returns
  • Profit & Loss and tax accounts have different rules and guidelines depending on if you’re self employed or a limited company
Regular updates from the Spring North team on help, support and our services!

Have you been able to find what you're looking for?

If you need help or guidance, our team are available to help!

Share this page
Last reviewed: 4 months ago

Join Today,
Grow Your Impact

Spring North is a member-based charity consortium covering Central and West Lancashire, Pennine, Morecambe Bay, and the Fylde Coast. 

Join hundreds of North West organisations in becoming a Spring North member for free. Alongside managing projects in the community, we offer a variety of business support services to our members as well as information, training, advice, and guidance.