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Tag: accounting

Judith Miller’s Top 4 Accounting Resolutions for 2018

Happy New Year! Although I typically don’t make New Year’s resolutions, I want you to make some; these are all guaranteed to make your life better by improving your remodeling business and by making your financials for December more accurate. AND, even better, the numbers you enter for your Roundtables Spring Focus Packet (due February

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Financial Data Analysis You Can Use Right Now!

You’re probably sitting around thinking “Now that the year’s over what would Judith do with all this information?” Today’s your lucky day because I’ve been thinking the very same thing: after tidying up your Balance Sheet here are useful analysis you can do with year-end information. But FIRST, make sure your Balance Sheet accounts are

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The Top 5 Accounting Issues Remodelers Face

I’m just returning from Remodeling Excellence week in Kansas City where I not only facilitated two fantastic Remodelers Advantage Roundtables groups, but I also had several sessions during the week’s capstone event: The Remodelers Summit. As usual, I heard some fascinating stories and learned more about some of the unique challenges Remodelers face. Unfortunately, I also

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Start 2016 Right: with an Accurate December WIP

You do want to know your gross margin every month in 2016 – right? That’s a critical metric to watch as it defines your sales success and production efficiency: raise your rates and your margin goes up, increase labor productivity and margin goes up. Good stuff! Now, IF you want the very most accurate gross

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What Are Indirect Expenses and Why Should I Care?

  Understanding indirect expenses will greatly benefit your remodeling business. By pretending they don’t matter, you’re jeopardizing your remodeling company’s fiscal health. Last week one of my very favorite people (yes you, that’s right YOU!) and I agreed to ‘argue’ about Indirect Expenses.  This is so important to me (and to you!) that I dropped everything

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Don’t Be A Hater: Accounting is Good for You!

Have you ever said “I know I should understand my financials but they just don’t interest me?”  Have you even thought it?  Admit it, probably!  Owners of most remodeling companies came from design or production backgrounds, few from accounting. In fact the simple term “job cost accounting” recently caused looks of disdain and disgust among

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How Remodelers can turn $50k into $2,505,000

Do you find yourself constantly aggravated about never having the cash on hand to accomplish all you desire or the capacity to jump at opportunities as they arise? As small amounts of reserve capital begin to accumulate, it’s incredible how many demands surface to deplete us of that money: quarterly tax deposits, a job gone

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The 3 Top Accounting Methods and the Lies they Tell

Keeping track of your revenue and expenses can be very time-consuming and even confusing. How can you accurately determine what your budget is, how much your expenses are eating into your profit and how to budget for a future project? At its core, the biggest problem remodelers face when it comes to understanding how to

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