Matt Calvano

speaker

449 appearances 4 recordings 1 series first heard Dec 2024 last heard Jun 2025

Matt Calvano’s voice in public audio — every appearance, attributed to the second.

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Builders, Budgets, and Beers · Staying on Top of Construction Financials with Tim Savre · 26 Feb 2025 podcast

That's what's going out at tax time.

This is like the only time of the year where you need to have tight company level financials because you're about to submit them to the government and they need to be accurate, you know?

But is there a need to have accurate company level financials otherwise and be paying attention to that for a small construction business?

Can you explain this a little bit more like the deposit example specifically?

I think this is a really great example.

It'd be great to kind of unpack it a little bit.

How, you know, with the deposits, you might think if you're just looking at an estimate versus actuals report, you're like, oh, I'm good on this job, but actually you're behind from a cashflow perspective and how the financial statements correct for this.

Okay, yeah, no.

So I think this is another great, I mean, this is like, I guess a tax consideration, which is a really interesting one.

I guess what you're saying is like,

Oftentimes there's this idea that generally like I'm just gonna track money I've collected on a project, money I've spent on a project and just pay attention to that, right?

And that's gonna be my estimate versus actuals, whatever.

So I collect $500,000, great, I've collected $500,000 on this project, cool.

I got $500,000 of revenue.

You're saying, hey, no, when you actually applied the financials lens to this, and we're actually really focused on the P&L slash balance sheet slash monthly financial reporting,

we're gonna correct for this because while we've collected $500,000 and we have the cash, we haven't earned it yet.

So it's not actually revenue.

And if we're updating our financials, it will reflect that.

It'll say, it will not show $500,000 in revenue.

So when you're comparing these reports, you look at your just project report and it's like, I've collected $500,000, great.

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