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What Does the Tier 1 Pro Growth Plan Cover at MyBuilderCPA?



Hello! Jon Markee here, founder and CEO of MyBuilderCPA. Today, I want to give you a quick tutorial on what you can expect from our Tier 1 Pro Growth Plan when it comes to monthly financial reporting.

A Tool for Immediate Action and Improvement

The goal of our Tier 1 Pro Growth Plan is to provide you with actionable insights that can immediately improve your company's performance. Here’s what you can expect:

Title Page Customization

Our reports start with a title page that can be customized with your company's logo and the date the report was prepared. It’s important to note that these reports are for management use only. Since they are influenced by your input and any QuickBooks entries, we do not compile or provide any level of assurance or attestation.

Key Financial Metrics

The next page includes key financial metrics. These metrics are customizable based on your preferences, but here are the four we typically start with:

  1. Current Ratio: Shows current assets divided by current liabilities. A solvent company will have a ratio greater than 1, indicating that assets exceed liabilities.

  2. Revenue Achievement: Compares current revenue against the budget for the year and the same period last year to see if the company is on track.

  3. Cash Coverage Days: Indicates how many days of operating cash the company has based on expected incoming draw payments and routine expenses.

  4. Net Profit Margin: Shows overall profitability, which is critical for assessing the company's financial health.

Revenue and Expense Notes

We provide detailed notes on revenue, highlighting the jobs contributing the most and least to your total revenue. This helps you understand which projects are most profitable and where to focus your resources. Additionally, we offer general comments on revenue trends and expense notes, giving you actionable recommendations to improve cash flow and profitability.

Detailed Financial Reports

Our comprehensive financial reports include:

  • Company-Wide Profit and Loss Statement: Offers a big-picture view of your net income.

  • Balance Sheet: Provides a snapshot of your financial position, including bank account balances, loans, and other liabilities.

  • Accounts Receivable Aging Summary: Identifies outstanding invoices and helps prioritize collections.

  • Accounts Payable Summary: Lists upcoming and overdue bills to manage payments effectively.

Job-Specific Profit and Loss Reports

We provide dedicated profit and loss statements for individual jobs. Unlike the QuickBooks Online P&L by customer report, our format offers more space to analyze each job individually. This approach can make the report lengthy if you have many jobs, but it ensures detailed insights into each project.

Customization and Collaboration

The Tier 1 Pro Growth Plan offers the highest level of customization. We work closely with you to incorporate specific key performance indicators (KPIs) and other metrics that are meaningful to your business. Our aim is to provide powerful reports that help you take your home building business to the next level, even if you are already doing well.

Conclusion

At MyBuilderCPA, our Tier 1 Pro Growth Plan is designed to be a valuable tool for improving your company's financial health and performance. By providing detailed, customizable reports and actionable insights, we help you make informed decisions and achieve your business goals.

Thank you for considering MyBuilderCPA for your accounting needs. We look forward to partnering with you and supporting your growth.

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