You look at your reports and see that the business made money. Sales are up. Work is getting done. But at the same time, the bank account feels lower than expected. Bills need to be paid. Payroll is around the corner. You start wondering how both things can be true at once. It usually comes […]
Category Archives: Reporting
10
Jun
Jun
A lot of business owners look at their financial reports and still think: “I’m not totally sure what I should be looking at.” They are being proactive about looking at the numbers, but still feel unsure. Having access to the numbers and understanding what they are actually saying are two different things. That’s where many […]
Goals, Help, Reporting, Uncategorised
You Don’t Need More Financial Reports -You Need to Understand Them
26
May
May
Most business owners don’t wake up thinking, “I really wish I had more reports.” They want to understand the reports they already have and use them to make better decisions about where the business is going. We worked with a client who brought us messy books. Once we cleaned everything up, they finally had accurate […]
17
Mar
Mar
When you hear the phrase internal controls, it might sound like something reserved for corporate giants with entire departments dedicated to accounting. But here’s the truth: internal controls are just as important for small businesses. Why? Because in a small business, the margin for error is tighter. A little mistake (or worse, a bit of […]
17
Feb
Feb
If you have ever looked at your financial reports and thought, “I know these numbers matter, but I’m not sure what they’re telling me,” you are not alone. Understanding your numbers is crucial for making informed decisions. In What Your Numbers Are Trying to Tell You (But Often Don’t), we explored why business owners often […]
03
Feb
Feb
Most business owners want to use their financial reports. They just don’t trust them. Or they glance at the numbers, feel a little uneasy, and move on. The story feels unclear, or the numbers seem to contradict what they’re experiencing day-to-day. Your numbers really are trying to tell you something. The problem is: they often […]
02
Sep
Sep
If you’re a custom home builder or contractor, you’ve probably heard your bookkeeper or CPA mention “cash basis” and “accrual basis” accounting. If your eyes glazed over at that moment, don’t worry, you’re not alone. Let’s break it down in plain English, using real examples from the construction world. Understanding the difference can help you […]
04
Feb
Feb
If you are a construction business owner, you have probably heard the term Work in Progress (WIP) thrown around. What exactly is WIP, and why do you need to understand it? WIP is more than just another accounting term; it’s a resource that helps you track your projects, manage cash flow, and stay profitable. Let’s […]
08
Oct
Oct
In construction, understanding and improving your profitability is crucial. One key way to gauge your financial health is by examining your gross profit margin, which reflects how efficiently your core operations are performing. Here are four practical strategies to help you increase your gross profit margin and set your construction business up for success. Work […]
06
Aug
Aug
You’ve heard about KPIs (Key Performance Indicators) and know that other businesses use them to measure success. Should you be tracking them? This guide will explain what KPIs are, provide some examples, and give advice on how to use them to make better decisions. What are KPIs? KPIs are metrics that measure how effectively a […]