PROFIT TOOLS
Please feel free to use any of our additional profit tools
1 Financial Reporting
This shows the Profit & Loss statement format that we want to see at the top level for all our clients. From the concepts in my book and subsequent articles, it addresses the issue that your primary focus should be gross profit, not revenue. By filtering out cost of goods sold that are not labor, you get to see the true top line number for your business. The next key is to segregate Direct Labor from all other labor so you can calculate Direct LER (Labor Efficiency Ratio) and Management LER. The power of the LER calculations is to know how much productivity you should get for each type of labor dollar spent. For a more in depth discussion of the topic, see Tool #3.
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Referenced on page 12 of Simple Numbers, Straight Talk, Big Profits!
2 Tax Calculation Template for S Corp 7 LLCs​
You can use this tool to do a quick "Accrual to Cash Basis" conversion to calculate how much in estimated taxes you should distribute to the shareholders each quarter. There are separate tabs for each quarter's calculation. This allows you to manage your business data on an accrual basis, and yet keep an eye out for taxes on a cash basis and decide quarter to quarter how much to either pay in or set aside.
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Referenced on page 75 of Simple Numbers, Straight Talk, Big Profits!
5 Reports to Watch
Daily, weekly, and monthly reports you should be watching.
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Referenced on page 126 of Simple Numbers, Straight Talk, Big Profits!
7 Profit & Loss Comparison: HISTORY VS FORECAST
This tool replaces the Advanced Cash Flow Model referenced on page 169 of Simple Numbers, Straight Talk, Big Profits!
8 Simple Numbers Book Resources Exhibits & Tables for Audiobook Listeners
Download the exhibit materials for audiobook listeners as referenced in Simple Numbers, Straight Talk, Big Profits!
Download the 2.0 resource materials for audiobook listeners as referenced in Simple Numbers 2.0: Rules for Smart Scaling