What is a Restaurant Profit and Loss Statement?

A restaurant profit and loss statement, also known as a restaurant P&L, reflects your restaurant's revenue and costs during a specified period of time. Basically, it functions as a bank statement for your restaurant to help you track your business's progress. Although many people know a restaurant profit and loss statement is important to understanding their business's growth, it can be challenging to know what information to include when creating one. This article will guide you through the basics of creating your own restaurant P&L, so you can better understand and manage your restaurant's finances.