Chart for Success

The P&L Statement is the language of business health. If your chart of accounts doesn't align with the industry standards, you're unable to speak the same language as potential A-player employees, business brokers, investors, and more.

As landscapers, accounting isn't necessarily your forte. Consequently, you've likely paired up with a local accountant, who knows the ins and outs of accounting. That being said, they don't know our industry and the industry standards, nor do they know your operating systems. Take the illustration below for example. A common problem for users of Aspire Software is that their Gross Margin on their books and in Aspire do not match. Why? It's likely that your chart of accounts doesn't align. Sometimes our operating systems, which are upstream from our accounting systems, dictate these things and we need to recognize and respect that.

Beyond your Gross Margin, there are many ways to simplify your overhead accounts and bring them inline with industry standards. If you think you have issues with your chart of accounts, or better yet, if you think accounting is for the birds, you need to consult with someone who has seen and worked with the P&Ls of the best companies in our business.

Learn more about Meinert Consulting Group here.

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Originally published at MeinertEnterprises.com on March 13, 2024.