Setting up Profit Centers in @QuickBooks Online (even if you're not profitable yet!)
Profit Centers - how to set them up and track...
One of a company owner’s most important accounting goals is to track the profitability of the business. Is profit growing? Or, decreasing? Is the amount of profit worth the investment of time and money the owner puts into his/her business? These are critical questions. Who wants to waste their time in a business enterprise that barely squeaks by and may never improve. We always search for better ways to try and see what’s going on in the business. What’s working? What’s not? One of the ways we try to do that is to break the business down into ever smaller chunks that are easier to examine. So contractors start to look and the profitability of each job. Wholesalers and retailers scrutinize the profitability of different lines of...Read Moreaccountantvip