Your accounts receivable coming due:
One of the most
important numbers, at least for a modular home builder, is the amount of money
you expect to come in during the next month. At the very least, you need to
know if you’ve got enough coming in to cover your bills.
Your accounts receivable past due:
There will always be
clients and lenders who fail to get payments to you on time. But the actual
amount is where problems can creep in. If this number gets too high, you need
to sit down and start making some noise with the people who owe you money. The
speed that modular construction can give you might also make a bank slow in
processing your draws.
Your accounts payable for the next month:
Just as you need
to know how much you’ve got coming in, you also need to be aware of how much
will be going out. Your accounts payable is probably a lot lower than a company
that needs to maintain inventory, but you need to keep it in balance with
everything else.
Your average monthly expenses:
While you might have a good
idea of the expenses immediately coming up by taking a look at your accounts
payable, you need to know what that number is supposed to be every month, so that
you can tell if you’re having a lot of unexpected expenses. Every home you
build should have an updated cost sheet at least once a week. If you have a
bookkeeper running you’re A/P and A/R, you might want to consider requiring two
signatures on every check. Review your online bank balances daily for any
unauthorized funds transfer.
Your yearly income to date:
With your yearly income to date
close to hand, you can calculate a lot of other numbers. While it’s not the
nicest example to think about, you can estimate how much you’ll owe in taxes
and ensure you’re saving enough.
