As a pest control business owner, you have to make quick decisions every day.
What you might not know is that one of the superpowers of –– wait for it –– your financial reporting is that it gives you more agility and strength to make smart and quick business decisions than anything else in your office.
you have a truck break down and the bank needs your most recent quarterly P&L or balance sheet to give you the loan. Does that take you down for 2 weeks or do your finances set & ready to hand over – so you can get back up and running?
You find out that there’s an opportunity to buy a small pest control company in your area that would significantly improve your route density and margins…can you do the deal (before your competitors)?
Understanding and managing your chart of accounts efficiently surviving and actually growing.
In our recent virtual event, we illustrated this concept by comparing a baseball lineup card with a chart of accounts.
In baseball, careful consideration is given to each player’s stats, their position, and their order in the lineup to maximize performance and (just plain) win the game. Similarly, your chart of accounts is the foundation of your financial framework. Like a baseball lineup, there are a lot of moving parts and the details matter. (And the guys that pay attention to those details just plain win.)
You might think “I use QuickBooks, I guess I’m fine.” And the truth is, I wish it were that easy.
The reality is – Quickbooks and similar out-of-the-box tools fall short in meeting the super-specific needs of the pest control industry. That’s where FRAXN steps in. After years of owning our own pest control businesses (and making some painful mistakes along the way), we created a gold standard chart of accounts for the pest control industry, offering a consistent and detailed system for categorizing financial activity. Our team of bookkeepers and senior accountants apply pest control expertise and the consistency needed month after month to keep your financial engine running smooth.
We’re serious about that free chart of accounts review. Book a call with us below.
Let us help you set your financial ‘lineup’ for success in the pest control industry.