As an auto repair shop owner, you manage a multitude of tasks daily. From overseeing repairs and maintaining customer relationships to running a team of employees, financial management is often the last thing you want to think about. If this sounds like you, we have a solution to keep your finances on track! A well-organized […]
Effectively managing your products and services list is essential for auto shops. Not only does this simplify and streamline your invoicing process, but it also ensures that your financial records are accurate and organized. In this blog post, we’re breaking down a simple and practical approach to setting up a products and services list for […]
How to figure the Break-Even Point (BEP) is one of the biggest questions you need to answer before you open your shop. When is does your shop cash flow positive on the way to the business becoming profitable. If you bought your shop from another owner, that answer should have been in the financial reports. […]
Check out this post to learn about the three parts of your balance sheet; Assets, Liabilities, and Equity. We’ll break them apart but first here’s a statement about a balance sheet in general. A balance sheet is a financial statement that provides a snapshot of what a company owns and owes, as well as the […]
Let’s take a look at three financial reports, balance sheet, income statement, statement of cash flows. You should read/review each of these monthly. Looking at the numbers from these three reports is a clear picture of your shop’s financial health. This is a road map to planning your future. Let’s begin with the balance sheet. […]
