As a business grows, processes and procedures that were less significant in the beginning become critical to increasing profitability. For instance, a small business may be able to get away with making less than they should when they provide specific services.
As a business begins earning revenues of $1 million or more annually, losses take on greater meaning. If you’re a fast growing business, it may be time to start taking advantage of job costing capabilities in your accounting software to measure profitability, set prices, and, ultimately, increase revenue.
Job costing? If you have an in-house bookkeeper who only knows the basics, she may not be familiar with ways to integrate job costing in your bookkeeping software. Or she may be able to generate the reports, but she’s not a financial controller. She can’t help you read the reports and analyze the numbers so you can make positive changes to increase profitability.
Just One Way AccountingDepartment.com Makes Life Easier for Business Owners
Your AccountingDepartment.com full-charge bookkeeper and financial controller will integrate job costing functions within your QuickBooks software. You’ll meet monthly, or on a schedule you set, with your financial controller to analyze financial reports and find ways to make your business more efficient and more profitable.
Often, our clients find great insight in job-costing reports, which helps them increase profitability with just a few small changes to their processes and procedures. This isn’t something they’d spot on their own. It’s the expertise and knowledge of the financial controller that helps them “connect-the-dots” and improve business processes.
Taking the Steps to Grow Your Business
You can do the same in any department of your business: sales, marketing, customer service, payroll, and more. The first step is having your books in order. The second step is having someone help you see your business in a new way by analyzing the financial reports. AccountingDepartment.com can help you with both of these steps as soon as you’re ready to take your business to the next level and give us a call.