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Bookkeeping Basics for Service Business Owners

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Bookkeeping Basics for Service Business Owners

Patrick Baldwin December 24, 2024

If you run a service business, most bookkeeping advice was not written for you. It was written for retail and software companies and then loosely applied to everyone else. This is the version for operators with trucks, crews, and recurring work. What bookkeeping actually is Bookkeeping is the recording. Accounting is the interpretation. Your bookkeeper records what happened, reconciles it against the bank, and produces financial statements. Your CPA takes those statements and files your taxes. The important consequence: your

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Title card reading How to Calculate Gross Profit Margin, with 60 percent shown as the median gross margin across 125 pest control operators

How to Calculate Gross Profit Margin (With Example)

Patrick Baldwin January 25, 2023

How to Calculate Gross Profit Margin (With Example) If you run a pest control company, gross profit margin is the number that tells you whether the work itself makes money, before overhead and before taxes. Here is the formula, a worked example with real dollars, and the range operators actually run. What is gross profit margin? Gross profit margin is the share of every revenue dollar left after you pay the direct costs of doing the work. The formula: revenue

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