Mike Andes answers questions about tracking revenue against scheduled work, Clearant payment deposits taking 2-3 business days, and how he handles profit-sharing as a payroll expense recorded the following quarter.
Hey everyone, let's go ahead and get started. Let me get this set to my AirPods.
All right, I think we'll just jump right into questions. Share my screen here.
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First question, Eric. Reflect on the previous mastermind topic of profits on work past our break even point. I know my break even number for the month, but do you know of a good way to track revenue throughout the month with doing end of month billing, Super Dashboard will give invoice totals, charge cards percent and for overdue invoices, that's at month's end. You know of a good way to track the totals of draft invoices throughout the month. So I have a better idea of when the break even point has been met. I'll be the first to admit I'm not the best at Zooper yet. I know in service autopilot what I would do is I would take the dispatch board for the rest of the month and look at the total amount of work that has been booked in Zooper. I would have to think about that one service autopilot. I would take the dispatch board for an entire month, let it load forever, scroll the bottom and see what I've booked for the rest of the month. That would give me a dollar amount. I'm just trying to think there's not a way to total up those jobs. I'll think about that, Eric. I'll see if what will be the best way inside of Zooper to do that. You could also email supportuper co. But let me think about this one. I'm not the best at Zooper. I'll be the first to be honest about that. I'm sure there's a way. But yeah, it wouldn't be draft invoices because draft invoices would be how much you've already done. What you're trying to look for is how much is on the schedule for the remainder of the month. Which can be done, I'm sure.
How long does Clearant take to deposit payment into my bank account? Command center charge customers credit card last Thursday and I still haven't seen it reflect. Does that amount matter? It was the final invoice for a project we finished. And lastly, when should I contact clearance? Thanks Mike. I would log into your clearing account. I don't know if you have command center already doing this for you on a monthly basis to check these payments go through, but definitely check your clearance account. See if it's being hung up on clearance or it never got processed because that can happen. So it might say paid in service Autopilot. But for whatever reason the car never gets charged. It never shows up in clearance or you see it in clearance and it's being hung up there for some reason. And then that's when you would want to contact clearance. So I would check that and see if it's at. If it says paid in service autopilot, then check your clearance. And if it says their money's in clearance, like the money isn't paid, then you call clear and like, hey, like why is money. It should not be taking a week. I've heard of like two or three business days, but when at what, four or five now? So that's not good.
For the monthly P and L cash on cash. Do you remove. Oh you mean like cash accounting. Got it. Do you remove the payments from the previous quarter's profit? I leave it as an expense. And that's.
That'S why everyone always asks you do profit sharing pre or post tax? I do it pre tax for this reason. That is I take the profit sharing from last quarter and it is considered payroll expense for the following quarter. Right. So if I'm paying $3,000 out in profit sharing, that is going into payroll, that's just going to be the easiest way to keep track of it. Otherwise you have to do a whole. You'd have to do a journal entry or you have to do like a manual subtraction out since the, the bonus is just added to their payroll anyways. So you'd have to do like a manual substitute subtraction and everything. But that's why I don't try to. Some people like, oh, you gotta like do post tax and so you gotta take out X amount. It's like, well, you're kind of guessing at that point what your tax liability is going to be. So to keep it more straightforward, we just do it based on cash accounting. But yes, you're, you're correct in terms of we just leave it as an expense on payroll. That is correct. That way, you know, at the end of the day, if you're giving away say 25% of profits, you know at the end of the day that you are making 75, period.
Assuming everyone shows up and that 25 actually goes to them, but you know, you're making 75. So because otherwise you get this vicious cycle of like, okay, I don't include it in the expenses. Well then the next month, now, next quarter is now inflated, now you get a bigger chunk and I just get start getting like a rippling effect. So that's all the questions I had for the day. This would be the shortest mastermind we've had in, like, two months. So let me show there's no other questions. Cool. Okay, that's all I got for you guys. Have a great Thursday. We'll see you tomorrow, which is a Friday. And take care of.
