Dave thought everything was going fine. He ran a commercial property maintenance company. Solid team. Regular clients. Decent revenue. But one Friday afternoon, reviewing his Profit & Loss report, something didn’t sit right. His gross profit margin seemed off—way off. It said he was making a 48% margin. Except his bank account said otherwise. So, […]
Tag Archives: service business accounting
13
Oct
Oct
Great question — and a critical one. Getting this right helps you understand your business, not only report to the IRS on it. Let’s walk through the approach step-by-step in a clear, practical way — whether you’re setting up for the first time or cleaning up a messy chart of accounts. ✅ Step 1: […]