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.
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 the accrual basis, and yet keep an eye out for taxes on the cash basis and decide quarter to quarter how much to either pay in or set aside.
Referenced on page 75 of Simple Numbers, Straight Talk, Big Profits!
3 Hire Top Performers
“The Best Team Money Can Buy” Whitepaper
This is a whitepaper presenting an in-depth discussion on Labor Efficiency Ratio (LER) complete with example balance sheets showing how the ratio affects profitability.
4 Labor Productivity Report (Weekly, MTD, YTD)
Note from Greg: This template shows you the basic format and formulas you need to track labor efficiency by week, by month, and by year-to-date.