217 - Stop Guessing: An Accountant Explains Your Shop's Finances - With Jerry Cecco

Host Kevin Dubois talks with accountant Jerry Cecco of Cecco and Associates, a longtime track-day driver, about the books of a small performance shop. They cover cash versus accrual accounting, progress billing and sales tax on long builds, credit memos for unpaid invoices, and how to lay out a P&L with revenue, cost of goods sold and labor in the right places. Jerry also explains bank feeds, purchase orders, inventory counts and shrinkage.

Read the full write-up: An Accountant Explains Your Shop's P&L, Sales Tax and Inventory, With Jerry Cecco on the My Shop Assist blog, with the key takeaways from this episode.