The Most Common Mistakes on Contractor P&L & How to Fix Them
The Successful Contractor Podcast – NEW EPISODE
The Most Common Mistakes on Your P&L & How to Fix it with SGI Accounting Coach Patty Myers!
Today’s show features Patty Myers, accounting coach for Success Group International (SGI).
Patty and Host Bob Houchin discuss the most common mistakes she finds in contractors’ profit and loss statements and how to fix it. Throughout the course of this conversation, Patty answers such hard hitting questions, such as:
- How departmentalization can identify certain divisions in your company are actually losing money, when you think they’re profiting?
- What sabotages your Gross Margin?
- How to identify and stop embezzlement?
- How much owners’ compensation should really be?
- Should you buy or lease your vehicles—based on the numbers? How much should you allocate for facility expense?
- How should you properly post depreciation?
- And should you really trust your bookkeeper? And more!