Understanding Your Financials
The Three Most Important Financial Reports for Your Managed Service Business
This is an awesome recording, zipped up with slides and Excel spreadsheets.
Rayanne is an accountant, and Enrolled Agent, and a long-time Managed Service Provider. That's a killer combo, which makes her a wiz when it comes to understanding the finances that make your managed service business go!
I love the line, "If you're not making a 10% profit, you are wasting your time." That's an example of the honesty and wisdom you'll here in this 2-hour program.
- Why should your gross profit be at least 35%
- And what is gross profit?
- How do you determine what GP means about your cost of goods sold?
Rayanne provides a great education here without requiring you to be an accountant. She goes through the three most important reports you need to run. And she explains them without requiring you to have a degree in accounting.
She uses a consistent set of examples so you can easily follow along and see how you would do the same thing with your company.
Among other things, Rayanne explains the most important things you need to know about . . .
Profit & Loss (Income Statement)
- Monitor Net Income
- Monitor Gross Profits
- Monitor Expenses
- Monitor Cash and Receivables
- Monitor Liabilities
Statement of Cash Flows
- Where the money comes from
Only $29.95 at SMBBooks.com
Originally recorded as part of the SMB Online Conference.
- - - - -
Rayanne has over 25 years of accounting, tax and business experience in the SMB sector. She specializes in working with IT Professionals and MSPs to improve profitability through accounting systems, financial reporting, and PSA integration.
Rayanne was awarded the 2012 Jim Locke Memorial Community Award by SMB Nation and SMBTN and was named to the SMB 150 list by SMB Technology Network (SMBTN) and SMB PC magazine in 2011 and 2012. She partnered with Bigger Brains to provide the QuickBooks 2013 video training course. She is the founder and leader of the Tampa Bay IT Pro Group, and is the past Treasurer of the Global IT Community Association for both the North American Board and the Global Board.
Rayanne is the owner of ABC Solutions, LLC in Clearwater, Florida. ABC Solutions provides accounting, tax, and accounting systems consulting services to SMB IT companies throughout the United States.