How to Read Your P&L Without Wanting to Cry

Raise your hand if you’ve opened your Profit & Loss report (P&L) and immediately closed it again because… yikes.

If just looking at your business finances makes your palms sweat and your brain check out, you’re not alone. We’ve all been there — staring at columns of numbers, wondering how you're making money but still feeling broke.

Here’s the thing: Your P&L doesn’t have to be painful.It’s not a test. It’s a tool. And once you know how to read it, you’ll start to see it as what it really is: a roadmap to your business goals.

Let’s break it down — no jargon, no judgment — just chic, modern guidance from your fave financial besties at OhCFO.

💡 First, What Even Is a P&L?

Think of your P&L as the highlight reel of your business finances.It shows:

• How much you earned (revenue)

• How much you spent (expenses)

• What’s left over (profit... or not)

It’s usually laid out monthly, quarterly, or yearly — and it gives you the full story of your business health. Kind of like a wellness checkup, but for your wallet.

😩 Why It Feels Overwhelming (And Why It Doesn’t Have To)

Let’s be honest: most founders weren’t taught to read financial reports. You’ve probably been told to “just focus on growth,” while backend systems get ignored.

But growth without financial clarity is like scaling a mountain blindfolded. Exhausting. Risky. And not the vibe we’re going for.

Your P&L is your truth-teller. It’s the Beyoncé of your reports — iconic, powerful, and not to be ignored.

✅ What to Look for (Without the Overwhelm)

Here are the 5 main sections to peek at — and what they actually mean:

1. Revenue

💰 This is your total income before expenses. Look at where it’s coming from — are some products/services outperforming others?

2. Cost of Goods Sold (COGS)

📦 This includes costs directly tied to delivering your service/product. High COGS can eat into profit — so monitor this closely.

3. Gross Profit

💸 Revenue minus COGS. This is what you actually have left to run your biz.

4. Operating Expenses

🧾 Your software, marketing, contractors, rent — everything it takes to keep things running. It’s where most founders leak cash without realising.

5. Net Profit

💖 The real money left after all expenses. If this number is scary, it’s your cue to strategise (not spiral).

✨ P&L Tips That Don’t Make You Cry

• Set a monthly date with your finances.Light a candle, pour a coffee, and review with curiosity, not shame.

• Highlight trends. Is revenue growing but profit shrinking? You might need to adjust pricing or cut costs.

• Get help decoding it. This is literally what a Virtual CFO does. You don’t need to figure it all out alone.

💬 Real Talk from OhCFO

At OhCFO, we help female founders move from “What am I even looking at?” to “Oh, I get this — and I know what to do next.”

We break down your reports, build custom dashboards, and create strategy from your numbers. Because you’re not here to DIY your way through every financial decision. You’re here to lead.

💼 Final Word: Know Your Numbers = Know Your Power

Avoiding your P&L might feel easier in the moment, but confidence lives in clarity.

Your numbers aren’t here to shame you — they’re here to guide you.And trust us: once you understand your P&L, everything changes.

✨ Ready to finally make sense of your finances?Book a discovery call with OhCFO and let’s turn those tears into traction.