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This sheet contains MoM (Month-on-Month) comparisons of the results for the current and previous fiscal years, with % changes. Column A provides an overview of all Profit and Loss accounts. For monthly data, for example, (by default) Column B, Column C, and Column D show monthly figures for Jan 2023, those for Jan 2022, and MoM change, respectively. On the right-hand side, specifically, Columns AX to AZ show the YTD number for 2023, those for 2022, and the YTD change. Also, you have a full-year comparison right next to the YTD comparison. These figures are extracted from “Profit & Loss by Month” by formulas.
What the PL by YTD sheet looks like in Year To Date Profit and Loss & Balance Sheet Template
Similar to PL by YTD sheet, this sheet displays the monthly balance sheet comparisons with % change between the current and previous years. The two sections at the right end of the dataset present YTD and year-end comparisons. However, as the amounts of balance sheet items are snapshots, the YTD comparison is the same as the comparison for the month selected as the latest month, and the year-end one is the same as the comparison for December (if the final month in a fiscal year is December).
What the Balance Sheet by YTD sheet looks like in Year To Date Profit and Loss & Balance Sheet Template
These sheets contain the income statement and balance sheet pulled together from your QuickBooks account. By default, the template has monthly financial data over the last two years in each sheet. You don’t need to calculate the figures, as the two sheets mentioned above automatically calculate the variances between items and show percentage changes.
Thank you for your interest in learning more about the Year To Date Profit and Loss & Balance Sheet Template. In this post, we will provide you with all the information you need to quickly compare your monthly financials, including what to look for and how to create your own. We will also share tips to help you increase your workflow efficiency tenfold.
With the Year-to-Date Profit and Loss & Balance Sheet Template, you can easily compare recent monthly, YTD, and full-year financial information with historical data from the same period of the previous year. The template also displayed the % change of each item, which helps identify unusual items..
Year-to-date (YTD) comparison is important in accounting and finance as it provides a snapshot of a company's financial performance from the beginning of the calendar year to the current date. Here's why:
You can use the Profit and Loss & Balance Sheet Template to track performance, compare financial data for different periods without the seasonality effects, and build up landing financial data for the current fiscal year.