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  • Writer's pictureJon

Exploring the Tier 2 Financial Reporting Package at MyBuilderCPA



Hello! Jon Markee here, founder and CEO of MyBuilderCPA. Today, I want to give you a quick overview of our Tier 2 report, often referred to as the Accelerator or Established plan, depending on the service package you signed up for. This is the middle tier of financial reporting, positioned between our top-tier and entry-level packages.

Management Use Only

Our reports start with a title page that makes it clear these documents are for management use only. They do not come with any level of assurance, attestation, or compilation, and are not intended for external use, such as obtaining financing from a bank.

Key Financial Statements

Profit and Loss Statement: The heart of our Tier 2 report begins with the profit and loss (P&L) statement. One key difference from our Tier 1 reports is that we don’t include extra commentary, analysis, charts, or graphs. Instead, we focus on ensuring the reports are 100% accurate, leaving the interpretation to you.

Balance Sheet: You will also receive a detailed balance sheet, showing your cash positions and liabilities. This allows you to calculate important financial ratios, such as the current ratio, by dividing total current assets by total current liabilities. Knowing your solvency is crucial as a business owner.

Accounts Receivable: This section highlights who owes you money, helping you stay on top of collections and maintain healthy cash flow.

Accounts Payable: It’s important to track what you owe to others, ensuring you are aware of upcoming due dates and any overdue amounts, particularly to subcontractors.

Statement of Cash Flows: While not extensively used by all builders, the statement of cash flows is available. It shows changes in cash positions and can be tailored to include discussions about operating, investing, and financing activities. If you need a deeper understanding of this statement, I’m happy to schedule time to discuss it further.

Job-by-Job Reporting

Our Tier 2 package includes detailed job-by-job profitability reports. We track all income and expenses related to individual jobs, providing insights into each project's performance. This is a step above our Tier 3 (Starter) plan, where we focus solely on overall company financials without diving into individual job profitability.

Summary

Our Tier 2 reporting package at MyBuilderCPA is designed to provide essential financial insights without the added commentary and analysis of our Tier 1 plan. It includes all critical financial statements and detailed job profitability reports, ensuring you have the information you need to make informed decisions about your business.

If you have any questions or need further clarification, please feel free to schedule some time with me. Thank you for choosing MyBuilderCPA, and have a great day!

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