193: How To Set Up Your Financials The Easy Way with Diane Gilson

The Roofer Show

To run a profitable roofing business, you have to understand the basics of accounting and the basics of setting up your financial system.

Dave welcomes his go-to accounting expert, Diane Gilson, back to the show to discuss the easiest way to do just that!

Diane Gilson created Info Plus(+) Accounting® In 1994 to help business owners establish job-cost accounting systems so they can access critical day-to-day operations data using QuickBooks as their primary management accounting tool.

Diane’s passion is designing, customizing, and upgrading accounting systems and financial controls for small to mid-sized construction and manufacturing companies.

What you’ll hear in this episode:

• Re-organize the Chart of Accounts so that it provides more meaningful and useful information

• Construction businesses fail when owners don’t charge enough money because they don’t understand their costs

• The Chart of Accounts is your accounting system foundation

• Understanding direct costs

• Above and below the line and why it’s important to get this right

• Consistency is necessary to do comparisons of estimates vs. actuals

• How to keep your Chart of Accounts simple

• Having a consistent cash flow allows you to take a regular salary

• Net profit is NOT part of your salary, it is money that you’ll be reinvesting into the business

• Diane has created a Building Your Chart of Accounts Class!

• Why you shouldn’t ignore your balance sheet

Diane’s Resources:

Diane’s Website: Build Your Numbers / Dave

Building Your Chart of Accounts Class

Remodeling Your QuickBooks Chart of Accounts

Time Tracking and (Job-Costing) Payroll Class

Dave’s Resources:

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www.callruby.com/roofershow

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Enjoy These Other Podcast Episodes Featuring Diane Gilson:

77: The Cost of Chaos: What's It Costing Your Company with Diane Gilson

112: How To Calculate Your True Labor Burden And Why It Matters With Diane Gilson

105: Increase Your Profit With Effective Job Costing Reports With Diane Gilson