Income minus expenses equals gross profit. Your gross profit is the amount you use to run your company and create profits. Job-costing is how you can track the income and the costs you incur to perform each of your jobs. It’s how you get to see the gross profit you earn on each of your projects. Your perception of what you want to see from a job-costing system may be very different than another business owner’s concepts. Why? Because there is no single prescription that fits everyone’s needs.
If you haven’t already read them, you’ll probably want to visit Part I, Part II, Part III, and Part IV of this “Tale of 4 Companies: A Job Cost & Gross Profit Drama” before beginning the following “Part V.” We’re joining Paul (owner of Paul’s Perfect Projects LLC), Walt (Production Supervisor at Paul’s), Jenn (Estimator …
“Why aren’t we making more money? We’re busier than ever, I’m working harder than ever, but things just aren’t coming together like they should!” If this story sounds or feels familiar, you may want to sit in on this meeting to pick up some ideas on how to create Estimate vs. Actual Reports… It Just …
January to December… Our calendar encourages us to divide our personal and business lives into those 12-month chunks of time. But what could happen if we decided to break out of that traditional mind-set – especially when it comes to business planning? My “15-Month-Year” Business Planning & Coaching Session I recently sat in …
… My Canadian friend and colleague, Bryan Kaplan of Construction Consulting, recently sent an email about an experience with Purchase Orders that was so insightful I asked if I could share it with you. This quick read will provide you with a handful of Quick Wins! The Saturday Text… It was 11 pm on a …
What might you be able to accomplish for your company if you create employer or employee shadowing teams for a couple of hours? Or even a couple of days? Employer or Employee Job Shadowing – Could It Work For YOUR Company? A client recently told me that she wasn’t as pleased with the performance of a couple …
Ever wondered if you could receive more useful and meaningful reports from QuickBooks? Good financial information is not just a matter of convenience! Nick is finding out that what he DOESN’T know about his financial system could pose a major setback to his business… Nick’s “Unique” Profit & Loss Statement “Wow, this is about the longest …
Can you really affect your gross profit by setting up a job costing system? Is it worth the time, energy, and effort involved to measure and track your numbers? Let’s visit with the owners of four (hypothetical) companies; then decide for yourself which owner’s shoes you’d prefer to step into… As background to the story …