Exploring the Tier 3 Financial Reporting Package at MyBuilderCPA

Hello! Jon Markee here, founder and CEO of MyBuilderCPA. Today, I want to give you a quick overview of what’s included in our Tier 3 financial reporting package, the final service plan we offer. This package is designed for builders who are just starting out and need a straightforward view of their financial health.

Basic Reporting Essentials

Title Page: Our reports begin with a title page that includes your logo and the date the report was prepared. This ensures that your reports are clearly branded and easy to reference.

Profit and Loss Statement: The first key financial statement in our Tier 3 package is the profit and loss (P&L) statement. This document helps you answer the fundamental question: "Am I profitable or not?" While we don't provide additional commentary or graphs in this tier, the P&L statement gives you the foundational data you need to perform your own analysis.

Balance Sheet: The balance sheet is the other primary component of our Tier 3 reports. It offers a snapshot of your financial position, showing your assets, liabilities, and equity. With this information, you can calculate important ratios and percentages, such as gross margin or net margin, to better understand your financial health.

Focus on Data Entry and Reconciliation

Under the Tier 3 service plan, our focus is on ensuring all transactions are accurately entered and reconciled in your QuickBooks file. This means that while the reports we provide are basic, your QuickBooks file will contain detailed and up-to-date financial data. You can use this data to run additional reports and perform more in-depth analyses as needed.

Limited Job Tracking

In this tier, we do not prioritize tracking revenue and expenses by individual job. Our main goal is to provide reliable, consolidated financial statements. However, if you provide job-specific transaction details and have the appropriate QuickBooks subscription, we can enter this information in the relevant fields within QuickBooks. This allows you to track job profitability if you choose to do so independently.

Perfect for New Builders

The Tier 3 financial reporting package is ideal for builders who are just starting out. It provides the essential financial information you need to determine profitability and make informed business decisions without overwhelming you with unnecessary details.

Conclusion

Our Tier 3 package at MyBuilderCPA offers a high-level overview of your financial health, focusing on essential profit and loss and balance sheet reports. It’s designed to give new builders the foundational information they need to understand their financial position and make strategic decisions.

If you have any questions about what is included in this plan or need further clarification, please don’t hesitate to schedule some time with me. Thank you for considering MyBuilderCPA for your accounting needs, and have a great day!