The Customizable Profit & Loss Spreadsheet that Every OD Practice Owner Should Have

By popular demand, here is a copy of my Profit and Loss Statement spreadsheet that I use at my offices. I track my income and expenses very diligently and this has made applying for programs such as PPP loans and  COVID relief grants easier since I can compare changes in revenue year by year. In addition, tax preparation time is much quicker as I am able to easily reference income and expenses with quickbooks as well. 

We advise to keep track of what goes in and out of your business monthly and pay attention to key metrics, including:

  • Average % monthly income
  • Expenses
  • your monthly cash flow

I have done this since opening my first office in 2015 and I have now been able to look back and easily see the growth of each office. In addition, by knowing my expenses, I am able to increase my earnings by reducing unnecessary expenses. Lastly, I like to see a prediction of my yearly income by seeing the trend in my monthly cash flow, so quarterly tax payment estimation is more accurate. 

I love seeing my businesses grow and being able to see the growth based on numbers in an organized format.  This allows me to set clear goals on what I want to achieve the following year. I hope this will help you keep track of your metrics and allow you to stay focused and meet/exceed your business financial goals. 

See below for a downloadable link to the Google sheet template for your reference. 


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About Julie Phan

Dr. Phan is the co-owner (along with her husband, Toan Nguyen OD) of a highly successful optometry private practice in San Marino CA while also running a Sam’s Club sublease in nearby San Bernardino. Always the entrepreneur at heart, Dr. Phan also invests in rental properties. Through leveraging a talented team of realtors, contractors, and property managers spanning five states, Dr. Phan has steadily built a real estate business that generates consistent passive income. Along the way, she hopes to inspire friends, family, and colleagues about the value of real estate investment so they can work towards their own financial independence. Follow Julie's REI Journey on IG @ house_hustle at


  1. Eileen Rivera on June 22, 2023 at 11:38 am

    The profit and loss google excel spreadsheet requires permission from the owner to edit. Where do I obtain this permission? I filled something out but it did not ask for an email.

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