Templates
Trucking Profit and Loss Template
A compact profit and loss layout for trucking review and tax planning conversations.
P&L table
| Line item | This month | Year-to-date | Notes |
|---|---|---|---|
| Freight revenue (gross settlements) | |||
| Fuel | |||
| Repairs and maintenance | |||
| Tires | |||
| Insurance (truck, cargo, liability) | |||
| Tolls and scale fees | |||
| Dispatch or brokerage fees | |||
| ELD and communications | |||
| Form 2290 | |||
| Other business expenses | |||
| Total expenses | |||
| Net profit estimate |
Who should use this template
Owner-operators who want a monthly view of income and expenses without full accounting software, drivers preparing for a quarterly tax planning conversation with a preparer, and anyone who needs a simple P&L to discuss with a lender or factoring company. Paste the column headings into a spreadsheet and update it each month — it takes less than 15 minutes if bookkeeping records are current.
Revenue line: what goes there
Enter gross freight revenue — total settlements or loads before any expenses are deducted. If a carrier deducts fuel advances, insurance premiums, or equipment rentals from your settlement before paying you, record the gross amount as revenue and those deductions as separate expense lines. Collapsing a net settlement into the revenue line understates both income and deductible expenses, which distorts the P&L and can cause tax prep problems.
Reading the year-to-date column
The YTD column makes trends visible: a month where repairs jumped but revenue held flat, a quarter where fuel costs ran unusually high, a pattern of growing deductions that might justify a mid-year call with a preparer. YTD totals also connect directly to quarterly estimated tax planning — if year-to-date net profit is running higher than last year, the quarterly payment may need to increase.
What this template leaves out
This is a simplified P&L. It doesn't include truck loan principal payments (which reduce cash but aren't an expense), depreciation (which is an expense but doesn't reduce cash), owner draws, balance sheet items, or beginning and ending cash balances. For a complete financial picture — or for formal lending purposes — you'll need a full set of accounting records prepared by a qualified accountant. This template is a working planning tool, not a formal financial statement.
Notes column
Use the Notes column to flag anything that might need preparer attention: a large one-time repair, a fuel surcharge that was structured unusually, an insurance premium paid as a lump sum mid-year, or a row where the number looks wrong compared to prior months. Keeping those flags in the template means they're visible when you open it at quarter-end, not just a mental note that gets forgotten.
Helpful Tools
FAQ
Can I use this template to show a lender my business income?
It can start a lender conversation, but most formal lenders want at least two years of tax returns and bank statements alongside any P&L. Use this for internal planning and preliminary discussions, then ask your accountant to prepare a formal financial statement if the lender requires something more complete.
My P&L shows a profit but I have almost no cash. What's going on?
This disconnect is common in trucking. The most likely causes: truck loan principal payments reduce your bank balance but don't appear as an expense; owner draws you took during the month reduce cash without showing as an expense on the P&L; or timing of factoring advances and deposits created a gap between when income was earned and when it hit the bank. Review the discrepancy with a bookkeeper before assuming the P&L is wrong.
Sources Used
- Publication 583, Starting a Business and Keeping Records — Internal Revenue Service; accessed 2026-05-25
- Publication 334, Tax Guide for Small Business — Internal Revenue Service; accessed 2026-05-25
- Recordkeeping — Internal Revenue Service; accessed 2026-05-25