Income Statement Departmentalizer

Operating Platform:  Microsoft Excel 2003 or Excel 2007

The Income Statement Departmentalizer is a powerful but simple Excel program that lets you expand a typical single-column income statement into a powerful departmental statement that can handle up to 8 divisions of a company at a time.

This is an important step to take if you want to run your business at its maximum potential as the typical single-column income statement most contractors get from their accounting staff shows only the performance of the company overall, not its individual components.  If one or more of a company’s profit centers is not performing well, the single-column format hides this information so corrections cannot be made.  A weak division that is not “healed” can eventually take down an entire company.

Much of the popular over-the-counter accounting software on the market today can create a departmental income statement, but the overhead accounts are usually allocated the wrong way.  For instance, some programs allocate shared overhead (like rent, insurance, utilities and manager salaries) in proportion to the sales each division generates.  But in the HVAC trade, markups among the divisions usually vary (especially for service), so using the sales of a division to determine its share of overhead is misleading.

The Income Statement Departmentalizer allocates shared overhead on the basis of what causes overhead in the first place— why you are in business—  to get field labor to the job site as fast as possible.  If a particular division of your company accounts for 25% of the field labor payroll, that division gets 25% of the shared overhead.

Departmentalizing your income statement can have a dramatic way on how you run your company. Once  you departmentalize your income statement, you will be better equipped to price work correctly in each division and determine which management strategies are working (or not).

The Income Statement Departmentalizer contains several important worksheets:

• An instruction page that explains how to use the program
• A basic setup page, where you enter your company name and date of your latest fiscal year
• A simple departmental statement (breakout into Installation and Service)
• An advanced setup page for more robust analysis
• An advanced departmental statement (up to 8 departments or divisions), with the ability to print all departments at once, any one department (so its manager can have his or her own income statement), or a generalized report to share at company meetings

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Price: $39.95. (Arizona residents, please add 7% for sales tax.)
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