How To Read Your Construction Financial Statements

Are you confused about your numbers or intimidated by your accounting software?  

Would you like to really understand what your Accountant is saying when they summarise your financial position?

Better still, would you like to be able to call up a financial report at any time and instantly know the exact financial position of your building company?

However, with no clear explanations in layman's terms that relate to the construction industry, how are builders expected to make any sense of their financials reports?

When you understand your financial reports, you take full control of your building company and master your cashflow.

No more surprises when the bank account goes up and down. You’ll know exactly what is happening, sometimes months in advance, which allows you to plan your growth or tighten up on your outgoings, before it’s too late!

Don't Wait For Your Accountant To Tell You If You've Made A Profit

Understanding your financials is not optional. It is essential knowledge for every business owner in every industry.

And it’s even easier than putting together an estimate!

It only seems hard because no one has taken the time to explain what the figures in your accounting system mean, in plain, simple English.

Anyone who has ever run a decent sized building company know’s how easy it is to lose money when the work onsite slows up.

And if you’re waiting for your Accountant to tell you if your building company has even made a profit 6 months after year-end, it’s already too late!

The Truth About Hitting Your Financial Targets 

The truth is, you don’t need to know how to use the Accounting Software in order to run a successful building company, but you do need to be able to read and understand your financials.

Your job as the owner of a building company, is to spend a few minutes each month reviewing your financial reports and then move on with your day.

Then you will be in total control of your building company...

You’ll know exactly how much revenue you need each month in order to break even...

You’ll be able to easily set financial targets for the next 12 months...

You’ll know the exact net worth of your building company...

You’ll be able to plan the growth of your building company so you can budget for additional team members prior to expanding.

And most importantly, you’ll know exactly how much money you are making every single month.

This knowledge will put you in control of your building company.

If you need some help getting started, download our checklist covering construction financials.