Shayne Glass

speaker

667 appearances 2 recordings 1 series first heard Mar 2025 last heard Apr 2025

Shayne Glass’s voice in public audio — every appearance, attributed to the second.

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Builders, Budgets, and Beers · Bonding and Tight Financials for Construction Businesses with Shayne Glass · 5 Mar 2025 podcast

So we have, you know, we have all these cost codes that represent a function of work being performed.

And then we have some codes that represent a specific GL account.

So let's say I'll just pick one of our codes would be for us, G means excavation type work.

And then underneath G we have our labor, we have our subcontractors, we have our material.

So they're all G.

so that they all roll up when you're figuring it's all excavation, but it's important that, you know, the mapping is right.

So we need, we gotta have the sub stuff go to subs.

We gotta have the material go to material.

So, but then there's complicating things like we own our own equipment.

Well, if we own our own equipment, we wanna treat it a little bit different than if we rent third party equipment, because that's important for us to know.

So the thing about cost code structure, chart of account structure, and even accountants, accountants are probably the most guilty of this

creating a bunch of fancy looking stuff that really maybe isn't super practical for what the owner wants to know.

So the discussion with the owner, like what do you need to know?

If you're going to run a successful business, what do you want to know?

And that question will help direct like how detailed you need to be or not be.

And I agree.

You want to start out basic.

Once you get a system flowing that is, you get your cost code structure set up, your chart of accounts set up,

and it's working and then you want some more detail, great.

You can slowly add in more detail if it makes sense and if it's worth the time that it takes to track it.

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