In this episode of Remodeling Business Blueprint, we explored The 9 Secrets to Maximizing & Managing Your Gross Profits – How QuickBooks Job-Costing Can Transform Your Profits and Your Business! It was my privilege to once again have Diane Gilson of Info Plus Accounting back on our show. She covered the top 9 ways you can use job-costing to increase your gross profits. This episode is an incredible opportunity to learn how to make transformative and lasting changes in your productivity, accountability, financial confidence, and the amount you get to keep as profit from each and every job.
*** Don’t miss the cool quiz Diane has for you at the bottom of this post. It will tell you if you are a Gross Profit Pro, Upcoming Expert, or an “I really need some help” person. Fill out the 9 questions and then see how you score. Then read her analysis.
Here are the key points that Diane Gilson covered in this episode:
“What gets measured, gets managed.” Peter Drucker
1. Use Quickbooks (QB) to enter detailed cost estimates (helps you price more accurately)
2. Use QB to enter PO’s (helps to clarify specs, costs, legalities, + speeds up data entry, enhances accuracy, and spots “lost change orders”)
3. Use QB to assign costs to jobs and tasks as they occur (measuring)
4. Use QB to track burden costs and/or equipment costs and allocate to jobs (makes job-cost results more accurate).
5. Use QB to monitor job costs as they occur and course correct (fix problems while they are small, sidestep larger problems)
6. Use QB to monitor job costs after the job is completed (analyze what went right and wrong for individual jobs).
7. Use the results to provide information and feedback to company employees and improve internal procedures (estimating, purchasing, labor costs, overall job management)
8. Use the results to create more accurate future estimates.
9. Use the results to track which types of jobs are more profitable than others
Diane explained how you can make Quickbooks jump through all sorts of hoops and become your center of operations, spitting out useful reports, keeping you on budget, and helping you plan your next year.
A big thanks to Diane Gilson of InfoPlusAccounting.com and BuildYourNumbers.com. She will grace us once again next year with another episode that promises to be chock full of useful information that will surely make you the remodeler of choice in your town.
You can reach Diane Gilson at her work phone number – (734) 544-7620 or at her websites listed above.
Thanks to all of you for your kind reviews on Stitcher and iTunes. Always love to hear from you!
Learn more about Randall at Scientificremodelingsystem.com.
You can also contact us on RBB.com’s contact sheet on RemodelingBusinessBlueprint.com