Tim Savre
speaker
155 appearances
1 recordings
1 series
first heard Feb 2025
last heard Feb 2025
Tim Savre’s voice in public audio — every appearance, attributed to the second.
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yes a couple couple friends actually we all raced bikes professionally um one of them was a controller of a home building company and he saw a need for this this niche and we all came together we worked on a project i kind of spun off my own direction about a year ago and joined ns builders so we're out of boston and i've been the controller for nick out there for the last year um and we're using adaptive across several of his companies
Yeah, I mean, really,
At the end of the day, you got to get your tax return done, right?
But you can kind of let your financials slide if you personally aren't going to make any business decisions from them throughout the year.
And all of a sudden tax season comes around and everyone's like, oh crap, we haven't done anything or we're not staying up to date.
Where mostly the issue is, is transactions are not getting classified.
Here, home building, we're not getting them job-costed.
So there's all these transactions sitting out there, we can't reconcile, and the whole system is just backed up because of that one simple process of we gotta get a receipt, we gotta get it in the system, and we gotta get it coded.
Sounds so simple, but it's so challenging to get them all done.
Yeah, I mean, they're doing some of them, but usually there's this huge backlog adding up.
Sometimes they call it suspense or missing transactions, whatever you want to call it.
But there's usually hundreds, if not thousands of transactions that have still not been coded come around December.
And then everybody's scrambling and trying to figure out, okay, where do these all go?
Have we invoiced them to our clients?
Have we gotten paid?
Have we paid the vendors?
So that's always a rush at the end of the year and trying to solve that problem.
Well, if you're a fixed price builder and you just want to call it cost of goods sold or revenue, maybe you can do that.
But for anyone who's cost plus, if you're not sending that to a job, then you're not getting paid.
If you're cost plus 20%, every dollar that you miss coding, you're probably losing $1.20.
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