Calculating Revenue Grosse Pointe MI

What was your total revenue last year? It's a simple question, but you'd be surprised how different the answers can be. To establish meaningful benchmarks it's important to always compare apples to apples — or at least red apples to green apples instead of some other fruit. That means agreeing on the definitions of terms like “revenue.”

Local Companies

DE FAUW DESIGN AND REMODELING
(586) 698-8021
18640 MACK AVE. BOX 36141
GROSSE POINTE FARMS, MI
Dayus Roofing
519-252-6581
Windsor, ON
A 1st Choice: Joes Quality Home Improvements
586 731-7500
44809 Van Dyke
Utica, MI
Bayshore Enterprises
(313) 885-0808
Grosse Pointe, MI
Concraft Inc
(248) 651-2140
1040 W Hamlin Rd
Rochester Hills, MI
K L M Home Improvement
(248) 816-9500
1901 Pelican Ct
Troy, MI
Welsh Robert W
(810) 494-0066
4275 Timberview Dr
Howell, MI
Above Roofing Inc
(616) 662-7663
2917 Wood Dr
Hudsonville, MI
Italy American Construction
(248) 889-8288
140 W Highland Rd
Highland, MI
Lakestate Building Company
(517) 676-3432
806 Eugenia Dr
Mason, MI

 


What was your total revenue in recent years? It's a simple question, but you'd be surprised how different the answers can be. Because this department in the magazine is concerned with measurement against standards, it's important that we're always comparing apples to apples — or at least red apples to green apples instead of some other fruit. That means agreeing on what we mean by terms like “revenue.”

And, by the way, we're talking here about revenue calculations for management purposes, not for tax preparation. There are perfectly legal tactics (and plenty of illegal ones as well) that you can use to manipulate revenue to reduce taxes, but they are counterproductive if they fool you into thinking that your business is healthier than it actually is.

CASH

Most small businesses running out of a check-book use a cash system. This doesn't mean that you are literally getting paid in greenbacks; it means that revenue is recognized whenever money is deposited, whether it's cash, check, or money order. Annual revenue is simply the sum of all these deposits from the first to the last day of the fiscal year.

Easy, yes, but it can get sticky if there are other sources of revenue besides remodeling. These should be subtracted from the total to give a true picture of remodeling revenue.

Click here to read full article from Remodeling

Featured Local Company

DE FAUW DESIGN AND REMODELING

(586) 698-8021
18640 MACK AVE. BOX 36141
GROSSE POINTE FARMS, MI

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