Calculating Revenue Warwick RI

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

Diversified Building Solutions
401-943-8804
PO Box 8143
Cranston, RI
Taylor Remodeling
1-401-203-1503
66 King Street
East Greenwich, RI
Four All Seasons Construction
401-241-7867
10 Craigie Ave
Johnston, RI
Four All Seasons Construction
401-241-7867
10 Craigie Ave
Johnston, RI
cordeiro
508 567 6540
barnes st
fall river, MA
RI Renovations
401-474-2342
6 Sunset Drive
Manville, RI
Rhode Island Home Improvement Inc
(401) 722-6900
1815 Post Rd
Warwick, RI
Wrench's Renovations
(401) 732-6736
Warwick, RI
Beaudeau Remodeling
(401) 921-4044
160 Long View Dr
Warwick, RI
Rhode Island Home Improvement Inc
(401) 739-1000
1815 Post Rd
Warwick, RI


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

Diversified Building Solutions

401-943-8804
PO Box 8143
Cranston, RI

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