I recorded a screen share with my client, Nancy - it’s showing the steps that she takes in QuickBooks to have CLARITY on the Expected vs. Actual Gross Profit on the remodeling projects she’s doing.
When you put a proposal together for that kitchen remodel - you should clearly know how much Gross Profit (which is Selling Price - Materials/Sub-Contractors/Labor)
The expected Gross Profit should be clear.
And when you complete the job you should be able to clearly see the ACTUAL Gross Profit you made on the job.
Nancy sets this up in a clear and nice way in QuickBooks. It’s certainly not the only way to do this, but my hope is that there’s something in the video that you can grab and learn from that will help you bring clarity to your job costing.
Are you currently clear with your expected vs. actual gross profit or is this an area for you to work on? Would love to hear in the comments below.
