Starting fresh with a clean slate for the year has me reflecting on refining my processes and fine-tuning my pricing strategy. Previously, I’ve leaned on basic profit-and-loss tracking, grouping expenses into broad categories, ensuring the business account could cover costs and allow for owner draws when needed. While that approach has been “good enough,” this year I want to dig deeper into every dollar and its purpose.
For instance, in the past, I grouped expenses under:
Consumables/Job Material
This year, I’m considering breaking it down further into specifics, like:
Chemicals
Sealer
Polymeric sand
Gas for equipment
And so on
I anticipate this will require more effort to separate expenses by category, but I see it as a valuable step toward understanding the true cost of each job. This should ultimately improve budgeting and help me price services more accurately and efficiently.
How detailed is your expense tracking? What categories do you find most useful?
