Financial statements, such as profit and loss statements and balance sheets, can be generated to provide valuable insights into a therapy practice’s financial health. Analyzing these reports over time can help therapists assess practice performance and identify areas for improvement. When you let someone else handle the finances, you can dedicate more time to your […]

The other half of the HVAC Bookkeeping COGM formula accounts for the work in process or WIP Inventory. WIP is a current asset in the company’s balance sheet and represents the total value of all materials, labor, and overhead of unfinished products. COGM is a critical component of profit and loss statements and measures the cost […]