WSW - Podcast Job Costing Series Part 6: Reporting That Drives Decisions
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[00:00:00]
Dan DeLong: Welcome everybody to our Workshop of Wednesday casual conversations for serious workflows brought to you by school of bookkeeping.com where it's keeping where you can books your way. I'll spit it out. Alright.
Hi Shanna.
Shanna Quinn: I'm doing [00:01:00] very well. How are you doing?
Dan DeLong: Very good. Hope hopefully, we are, we're coming in, not hopefully, but we are coming in.
Importance of Job Costing Reports
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Dan DeLong: For a landing on the series for job costing purposes. A is, it's the road all about reports. This is where this is why you do all this, right?
Right, Shanna? This is why you do all that set up ahead of time.
Shanna Quinn: Yes.
Dan DeLong: Reports that's gonna tell you, did I do it right or. Yes.
Shanna Quinn: Yeah. This is or was, did I do something wrong?
Dan DeLong: Gimme more. Gimme more than Nick.
Shanna Quinn: Yes. I was trying to let you finish. Yes.
Client Financial Habits and Profit First
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Shanna Quinn: This is where, this [00:02:00] is the data that we're that we use with our clients to let them know how everything is performing from down to like individual jobs or overall as a company or by job types. This is definitely where you find out if you've set everything up properly and like you said, what needs to make you be fixed, or potentially while you're pulling these reports maybe what additional trackers or custom fields that you wanna use or start using to provide even more information, for your clients or for yourself.
Dan DeLong: So the, I mean 'cause, because especially for this industry, and I think we had talked about this initially when we were talking about job costing and QuickBooks online. Can you actually do [00:03:00] that? For this history, a lot of people do things based on gut, right? Or how it feels.
Am I charging or did I underwater, in this particular project. And, for, most people who aren't as intimate with their business as they are working or, doing the, work,
Shanna Quinn: yeah.
Dan DeLong: They measure,
Shanna Quinn: you
Dan DeLong: know the measurement they go is what's in the bank account as far.
Cash flow, right? Is that, where, people find the civil when they, do things that way?
Shanna Quinn: Absolutely. We have a lot of we have a lot of clients that came to us initially that probably did the same thing. They [00:04:00] judged how business was based off of the amount of money in their account, except that.
That money was being spent for lunch, it was being maybe for them, maybe for their family, maybe for the team. And so it doesn't really give you the right information. And just a small plug, that's why we do profit first with these clients in particular, I feel because that is how the mindset has always been with them doing profit versus what helps so much for them to have that.
That similar kind of habit that they've created of checking the account to see how they're doing. And we can say, this is in fact now how you are doing because we're using the profit per system with them. So we're saying just pay attention to this number. Look at this bank account number. Yeah.
Dan DeLong: And, just to [00:05:00] cliff you would basically do a lot of separation of their me rating account into
smaller accounts. And that way they don't get by looking at this, the, larger number, not realizing that some of that's gonna pay. Later.
Shanna Quinn: Yeah.
Handling Sales Tax and Separate Accounts
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Shanna Quinn: Like our call last week, part of what we were discussing is how hand we handle those retainers, how we handle those deposits from the financial side of posting.
But the other side of it for us is that we're also moving that into a whole please separate account for our clients. So it's still their account. So the balance is showing up, but we're saying here is your profit account, so here is technically the number you should be paying attention to not pulling money from these others.
We also advise our [00:06:00] clients to set them up as certain accounts, which coincidentally limits the number of transactions you can do out of that account or into that account as like a deterrent. To make them not touch it.
Dan DeLong: Because one, one of my favorite stories, and it has nothing to do with job costing, but it's how, it's it, speaks to how company their, their balances and make business decisions based off of what's in the bank is I had a, friend who worked at the Department of Revenue in the.
He was in charge of, of sales tax, right? So companies would come in, inevitably
one customer or one business would come in and gripe, can't [00:07:00] afford to pay sales tax, right? Which then starts a whole conversation with what are you doing spending the state's money, right? Because they are, yeah. That side of that is they are making the business decisions based on what's in their bank account, not whether or not that money should be set aside to pay their sales tax.
'cause in reality, sale tax is never a business income or an expense. It's a liability. It's, you owe it a liability. Always. You're, collecting it. To be paid later, and it's like a payroll liability. It's not yours to keep, it's just to pay later because there, there's dates. About those things.
So it's accrual dates and all that stuff, but that's very all sales tax. But,
Shanna Quinn: well, and sales tax does have a place in the conversation, not particularly maybe this, but sales [00:08:00] tax does. There are contractors or states where contractors are a performing certain, services that. Do have to do sales tax. I particularly don't support those states because I'm just not a big fan of sales tax.
All of our interior designers require it. And it's just, it's a lot of work. It's a lot of risk for us as a business owner to take on. So if I can keep that to a minimum I do just on my side from a firm perspective. 'cause it just gets really complicated. But there are contractors in certain states that do still have that sales tax.
So we would create a completely separate account for that and that money would automatically move over. Yeah. And so that don't touch
Dan DeLong: And that's what Exactly. And then that's what a lot of we're seeing in the [00:09:00] industry is that there are, there are. Applications s and those types of things that you can, incorporate to your business software that does those things to protect the business owner from themselves, right?
It, payroll services or RB. Being very famous for that. Or as soon as Impo, impounds, all those tax liabilities, puts 'em out somewhere. So in reality, their bank balance is lower because it been segregated. And be and held on their behalf.
Shanna Quinn: Yeah.
Dan DeLong: To pay them.
Shanna Quinn: I'm gonna have a side note.
It's just a quick gripe about that. People taking the like quick note payroll, taking it right away. And my only, my gripe is that now they're earning the interest on my, client's money and on my money [00:10:00] because certain things like unemployment tax. Doesn't get paid until year end for that year prior.
So it's collected and all year round you're contributing to it, but once a year in January is when it's due and they hold the money. So you think our services would be a little less?
Dan DeLong: Yeah. Yeah. And, you could get that could be a whole topic a whole other workshop.
Shanna Quinn: Yeah. Quite right. Done. I am done.
Dan DeLong: But that is true. And ADP, probably about 10 of their revenue comes from the, income that they receive on the hold
Shanna Quinn: Yeah. Of
Dan DeLong: those funds.
Shanna Quinn: Yeah.
Dan DeLong: Convenience fee.
It's, like a Ticketmaster thing. It's like
Shanna Quinn: I'm in the wrong business. I need to be out one of those holding.
Dan DeLong: You need Shana [00:11:00] Quinn Escrow Company.
Favorite Job Costing Reports
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Dan DeLong: Getting back to the topic of the day about the question, what's your best, best report for job costing? Shana, what is your favorite costing report? Where's your sort of truth that you start with? I'm sure that lead. Into you do, but what where, when it comes to job costing and.
Shanna Quinn: I'll say that up until advanced has come out now with their ability to do the estimate versus actual.
But right now the majority of our clients are on the plus, even though I'm trying to convert them over for the new year to start utilizing that instead of the manual reports. Is that I've generated specialized workbooks for each of my [00:12:00] clients based off of the job types. Based off of how they're doing, they're estimating.
So while the data comes directly from our QuickBooks, it is not reporting their transaction reports that I, take out of there. It's nothing more than that as of right now. For the majority, for some of our clients, we have the advanced and we're using it for the job versus actual, and the job reports are great through that.
Because of the customizations that you could put in. But it takes some time to figure out what's the best way to show that information to your client. If you're invoicing, I know we had this kind of discussion a couple of weeks ago about how invoicing occurs. So if you're doing t and m, you might be, they, you might be providing an estimate versus actual on that.
And so [00:13:00] that is also an export and then import because there's their job costing report. Because if you have the markup on there, you obviously have to provide them that, that report. But on our internal side, our markup is our, profit for the clients, right? So there's the, client facing estimate versus actual, and then there is the my client, the contractors.
Version of the estimate versus actual.
Estimate vs Actual Reports
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Dan DeLong: So let's talk about those, the, just the general reports, and I, think it boils to, three buckets, right? You, mentioned one, one of them estimates versus actual. And so the, main con concept of the estimates versus actual is here are the estimates.
Think I, I. I estimated what your job is [00:14:00] going to, or cost you the, customer, right? And then the actual is what really took place all hosting transactions that were allocated, to, to that job one thing, right? And and you wanna understand the difference. What decisions are made out of the estimates versus.
Where it's the, wishlist and what Santa actually brought me.
Shanna Quinn: Great timing for that analogy. Yeah. Yeah. And for some of our for some of my client's clients it's a report that we can use to also, even if we're doing a TNM and we are track, we are tracking change orders made after original estimate provided we are [00:15:00] able through that report to still talk about and have that, have that transparency with 'em about the progress on that job. If we're a hundred percent built out on a line item, and I'm still saying from an accounting perspective, like we might have a couple of small things coming through that just simply could mean to the client that there were some price changes, potentially light fixture crisis went up.
Mostly that would be like your allowance material. On finishing items. But you're still able to communicate that to the, their clients on progress. Alternatively, you're also able to make them, you're holding them responsible too for the changes that they're requesting throughout the project. That sometime is my favorite because they like to call me and have those talks about like how much things have changed and then I can just pull up that report and say here's why[00:16:00]
you changed your mind three times in the middle of a job on how you wanted your kitchen island to be finished.
Dan DeLong: The estimates versus actual. Is, in the QuickBooks definition is you put on the estimate between what you collected on invoices, what you spent on that job, right?
Now, how does that budget, right? Because that's another aspect that you can do, is you can create budgets by customer and essentially same thing.
If you're using the estimates versus a, do you re, to, to the customer to also do a budget or not really?
Shanna Quinn: Those would be those two separate reports that I was referring to is the estimate versus [00:17:00] actual is the report that my clients would provide to their clients to discuss and show them, here's what we've estimated, here's what we've invoiced thus far.
So they're able to track that. Change in the job or the progress of that job? The budget tool is what we use to create and use internally. So if potentially we had something, I don't know, be TNM is a little bit more. Flexible because you're due, you're not committing to a certain, you're saying that you're basically, you're paying me what it's gonna cost me plus my markup, right?
So in a fixed job the budget is probably a little bit more important because that will tell the business owner, whoever's the estimator for the jobs to say, oh, okay. I really. Underbid [00:18:00] on what this material was gonna cost me or was this an issue with my vendor? So they're able to use it in multiple ways.
They either priced wrong for whatever reason they can dig into that. Or was it a change with the relationship and the vendor provided them their estimate and said, here's what this job's gonna cost me, so this is what's gonna cost you. And then that price changed for some reason along the way, and you question it and you research it.
So the budget is more of an internal operational tool where the estimate is your client facing, tool that you use. Yeah.
Dan DeLong: Okay.
Job Profitability Reports
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Dan DeLong: And then so the last one is the job profitability is just looking at the actual not, not. the estimate, not the budget, not the plan, but just looking at the actual side of things.
Did I [00:19:00] make money on this? Is that really what it boils down to is, being able to see it on a job or project basis? And what's the bottom line?
Shanna Quinn: Yeah. The project profitability is going to give you that, the thing that we have to, however, take into account sometimes is if we have internal laborers that are subcontractors and we use something like our time and material, or not time, our time tracker built in.
Where we need to make sure that we pay, we create a bill off of that time and then pay off of that time, so that flow has to work properly. Otherwise, if you just write a checkout for the subcontractor, even though we've put in a cost associated to those hours and those hours are logged into our QuickBooks, QuickBooks [00:20:00] is not recognizing that it was paid because we haven't created that cycle of links.
Between them and therefore that cost out is not being captured in that. Just a side note about how we are making sure everything gets set up properly on some of our jobs with some of our clients. That was one thing that was getting missed. So it was walking through and having the conversation because they do their own payables with this particular one is here's how this needs to actually flow.
Here's how this needs to work out. Otherwise, in that job costing summary. You're not, your profit's gonna be way overstated because it's not taking those actual labor costs into account even though the time was logged and we have a cost rate associated to that time. But yes, technically you would be able to use that to say, here's overall how I'm doing, on the, on my individual jobs or [00:21:00] overall on my jobs.
Taking that income, taking out your expenses cogs, and then here's the bottom line. So yes, it would be,
Dan DeLong: That was, always a, long conversation when talking with, that was concerned about time, right? Is that QuickBooks desktop holds no value. To time, right? Like you can run what you want and there is no value to time until you turn it into some kind of transaction that does have a value to it.
Yeah. And then you create the paycheck or it goes into a, the subcontractor and you, the bill at that point.
Shanna Quinn: Right
Dan DeLong: where online is a little diff different because you're gonna be [00:22:00] associating a cost, billable rate or what that time. So Quicks online report of the illusion that is a cost associated with that time.
But again. Until we turn it into action, it's not going to fully vet out that, that, time cost. So you do get a little bit of this false sense of security or, as far as the reporting is concerned, inside of QuickBooks Online, when you look at time reports, lo and behold, there's a value associated with that, but it really still holds no value.
As far as the cost is concerned until it moves up, until
Shanna Quinn: it's opposed to its transaction. Yeah.
Dan DeLong: Yeah.
Shanna Quinn: Yeah.
Ensuring Accurate Data Entry
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Shanna Quinn: And that just goes into making sure things are set up properly if you're not the one doing it. [00:23:00] So for me it was easy enough to make them a quick video, walk them through it, and then I just make sure when we're pulling the reports for them that I'm reviewing it, making sure they captured it correctly.
And the easy way of making it into a bill so we can capture it, and then making sure they pay off of that as opposed to sometimes writing a random check. So just making sure things flow properly and they're being done accurately to make sure it's all captured.
Dan DeLong: So these reports are as accurate as the data that comes in, right?
Yeah. And that and you'll be able to make decisions based on that accurate data. Assume. All the stars are aligned and it's entered in as it should. Now, people are people, they do things, some, they do, they take shortcuts or they don't understand the [00:24:00] nature of what it is.
All this hard work that China put into setting, up these, catch these things when human error because they will, right?
Shanna Quinn: So I think for for all of our clients, we have, I think we've even touched on this last week a little bit or maybe a few times with, bits and pieces.
But every single time when we are updating our job reports for our clients, which is on average probably the least amount of times, is every other week. For our client because that's about as long as some of our clients wanna go with their payable cycle. So I would never suggest that our, that your receivable and payables are on different, if you're gonna pay your vendors every week and you are doing TNM or progress invoicing, but it's not forward in the job progress Invoicing, meaning this month I've got [00:25:00] this scheduled, so I'm gonna bill for that now.
Especially if you're working with banks, they wanna see completion of things before you move on and allow for that next draw. So you're typically billing in the rear of when things are being done. If you wanna have things done or pay your vendors weekly, you wanna invoice weekly if you wanna.
Do biweekly, you're gonna wanna invoice biweekly. So biweekly would be the minimum amount of times we're updating our job reports and we know what our client's markups are. Plus we use other, other identifying markers on transactions that are ones that are relate. So if there's like an absorbed cost on something, meaning like maybe, I think this was the example I used was.
We had someone that was doing some work on the floor and installation of something and they, [00:26:00] it they, punctured a tube on underneath the floor. It was a pipe, a very thin pipe that nobody knew in this really old house that was there. It still had water in it. And then obviously that creates an issue.
That's a, cost that whether it's at the subcontractor's problem, so then you're back charging it. Or it's a absorbed cost on our end, we have identifying markers that we have in place to separate that out. So that profit margin that you were talking about a bit ago is we use that as also a way to determine if we are on track.
If I see that, if I know my client's markup is like flat, 25%, this is what we are at then without labor. Okay. I can easily look at that number and pull those reports and use that number to say, okay, something is off. And, be able to locate it and be able to handle it from there. So there's different ways.
There's the custom fields, there's the [00:27:00] tags and stuff like that you can use to create these, what's the word I'm looking for? Your backup to catching errors essentially.
Dan DeLong: Your safety net.
Shanna Quinn: Safety net two words.
Dan DeLong: So those, so basic, what I'm gathering is that if, you set it up right, then there, there will be. That is the ideal workflow, for these things. And then as part of your setup, you you'll understand or your team will understand the. The,
I, I lost my train of thought. The, the, things to look out for, the indicators that, that, the word indicators I was looking for, there'll, there, there will be [00:28:00] some red flags somewhere on certain reports that will help identify oh, this we're, getting, we're. We're follow.
It's not true north here and as long as you Correct. Course correct.
Client Communication and Value
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Dan DeLong: Reagan, and you, talked about it I think last week, where you're more of a keep up rather than a catch up, right? Like you, you don't wanna be mild, of course, because you follow
A month or two months, or three months from now rather than directly north. It's a lot easier to course correct when it's just a little bit off course than it would be to Okay. The job and you're on.
Shanna Quinn: And we use [00:29:00] those reports too at the end of the job. Those estimate versus actuals, the budget versus actual.
So both of them are used internally at that point to also determine. Who maybe has not built you yet, subcontractors big and small sometimes I have discovered, are known for waiting and I don't know why. We're waiting. But we get a lot of bills at year end.
It's like this influx of Oh yeah, just send it all out. Like we completely forgot to invoice the last two months. We've received my, I've got clients that we got our bill for a job that's been done for six months. Six months. And we've just got the invoice from them. And so it's like at that point.
That particular client manages their own ap, [00:30:00] so we're more like of a reviewer. And now because of this situation, they're upgrading their services to have us do their payables and the job costing reports for them, because that is something that would've been caught at the end of that job to say, okay, we're a month after completion, so I expect the last trickle to be coming in, but hey, for some reason.
We haven't gotten a bill for the outdoor kitchen, or we haven't gotten the bill for the final draw for the pool. And so those would be things that would get captured. We can then connect with the vendor because if, especially we're doing a t and m job. I wanna be able to go to our client and say, our final draw is in for that pool.
We need to invoice your client for it now waiting six months after the fact of a job completion, and then going back to your client and then their client to say, okay I know it's, you've been enjoying it for the last [00:31:00] six months, but we finally got the bill. It just, it doesn't reflect well on the business owner.
And there's only so many times you can probably throw your subcontractors under the bus for their lateness. That's one of those being being on top of it as opposed to playing the keep up or catch up type of role.
Dan DeLong: Yeah, there's very few, your end to go to the gym. After a year's worth of not eating or exercising, right?
Shanna Quinn: Yeah, I have just say there's
Dan DeLong: gonna be,
Shanna Quinn: there's people that just go in January. You make it really hard for me to wanna be there.
Speaker 5: And I'm constantly like
Shanna Quinn: waiting for a machine that every other month I don't have to wait for.
Dan DeLong: It's a resolution month. January. They go [00:32:00] in, in January, they realize, oh, this is, in, in the grand scheme of things, they had gone if they had been like Shanna and gone the, whole year, then it wouldn't to.
Do that. This is the same thing where you with with your with, your costs, by working with to keep, up. But of course that's gonna cost them more to do that on an ongoing basis than it would be to, okay,
that's six months. Later, it's really just that case. But they have to weigh that as an option. What's the tip point that most people come to that realization? Are they, is it just a [00:33:00] frustration thing? It's oh my gosh, I need, I really need to, like, when do people really decide what is the, 'cause it's not gonna.
If it were me, right? We are in a, a situation or, in, in that kind of industry. You don't go looking for a, carpenter or a a, plumber looking for a plumber until you've got a leak. Like where is the leaky sink for a lot of business say, okay, enough is enough.
Shanna Quinn: I think that it is if, you're, if you think that you're making all the right decisions and you a hundred percent know, the reason of where all, like the explanation of where your money is gone but your money is low, then you have to sit back and say, okay, there's, I'm, the expert at [00:34:00] this, but I'm not an expert at this.
Just. Left field real fast with the new business and my new business type the bookkeeping for contractors group. There's a lot more marketing and creativeness that goes into that, and that is not how my brain operates. I heavily rely on Pinterest to help me get through every single birthday party planning I have ever had to do, and I need detailed instructions on what you did.
Only if chat GPT existed and was easily accessible with visuals back when my son was born, that would've been great. But I, my brain doesn't operate that way, and I know it doesn't operate that way. I don't know how to build a website and how to code. So it's an investment up for upfront to do it and to hire somebody who can, who is expert at that.
But in the end, that's gonna save me because I'm [00:35:00] not attempting to do something. And putting all this time investment into it and then being like, oh, that was done completely wrong, and now I've wasted 50, 60 hours and now I have to hire somebody to come in and not just, do it correctly, but erase essentially everything I've already done and put my blood, sweat, tears into, so just knowing upfront that you are not an expert at everything and accepting that's okay because none of us can be perfect in everything that we do. Knowing that upfront, I just thought I'm not creative, Dan.
Dan DeLong: Okay. You got me.
Shanna Quinn: But thank you. I think it's fun to be creative. Like when I'm doing it, it's a lot of fun and I [00:36:00] sure as heck take credit once everyone sees like, how amazing a, birthday party I've thrown for my, child and like I did that, even though it probably in the background with somebody else.
Dan DeLong: Yeah. As far as being, having that self-awareness your own limitations, and I think it's, I think it's immature to, to look at something it can't be that hard, yeah. Or it can't be that it,
I'll go a Fiverr that seems less cost lower. That's, usually what, where people put that value is that, they'll, either see somebody's prices sicker, shock and go, okay, this, [00:37:00] they'll reassess. And, in right in the trades. I'm sure it's the same result where I can, remodel my bathroom,
Shanna Quinn: right.
Dan DeLong: How hard could this
Shanna Quinn: be? I can replace that toilet for sure.
Dan DeLong: Yeah, that is probably
Shanna Quinn: one of the,
Dan DeLong: your discovery is when, you talk to a client do you, say like, when did you realize that you needed. Help.
Shanna Quinn: At that point, sometimes it's almost obvious when they've called and I'm doing my initial deep dive into their QuickBooks to see exactly what's gonna go into this project. 1:00 AM I looking at, to quote you for an ongoing assistance, it's almost obvious at that point why, they've come to me.
Or why they've sought out [00:38:00] professional assistance to help them. I think that it's a matter of, so I'm just, I'll give you an example. I'm just
Dan DeLong: wondering, I'm just wondering if understand how, they got to you. Because if you understand some of the history where maybe they try.
Tried some of these things, or they gave this task to a niece or something like that where where they, tried, the DIY route, themselves. Does it help you understand where they value, where they, and where they might value?
Shanna Quinn: I don't come out and Exactly.
Ask them. So what led you to me? I asked how they heard of me, but there's other [00:39:00] questions that are that I'm having and a conversation that's occurring prior to, I call it the discovery call. It's for me to discover and learn more about them, about their company, about why they built their business.
I get personal 'cause I also wanna see from my side if they're passionate about what they're doing. Because on my side I can only, I think, support someone that has, that's truly invested in what they're doing because I'm going to be just as invested. I might be the outsider and hired help essentially, but.
I am there to support you and to provide you with a better financial future with better clarity of what your financial situation is. That's our jobs, in the financial, as an accounting in the financial world, as their accounting professional. No matter what level we work with clients at, it's important for us to continue to have those conversations [00:40:00] and have that open dialect, I think with our clients.
But I, had a conversation with somebody just yesterday. It was a project quote that I provided from one of my, oh, actually she was one of my mentors when I got started, and she provided this person my contact information to reach out. It. It's it's a very big job. And the books are huge mess.
It's going back like seven years and she's selling the business so it needs to get cleaned up so she could be properly evaluated and sell. And so obviously the owner wants to the buyers coming in are gonna wanna see clean books, understand it properly. It's a big business, so it's not like this mall Paw coffee shop.
It's, a very large business. A lot of assets are involved. And so I provided the proposal. [00:41:00] She called to discuss it with me. And my question to her was why she was hesitant to proceed with me, and she said, the rate. And I said if you're not willing to put in 1% of your revenue from last year into cleaning this up to sell, what would you like?
What would you tell me your like cost would what would you be willing to pay me? And she didn't look at it that way and then came back and was like, I need to think about this. Then called me literally as soon as we hung up the phone and called me back and said, I'm so sorry if I'm not willing to invest 1% back into my company.
To make it so that we can sell it and have a good life after this, then I should have this should have been something I did years ago and should have invested in 1% of my bottom line or 1% of my revenue. It seems like a lot when you put it [00:42:00] on paper like that, but in the reality that's gonna make my life so much better.
It's worth that investment. And not that 1% was how I. Judged what my rate was, but it just happened to be in that 1% range. Yeah. And she but having that conversation and being open and honest about it is important. But also as an accounting professional, it's important to also stick by with what you're, don't start being like I'm having a sale.
Or I'll have a promo code, or, don't chase it back. Know that your value is there. Know what your worth is when you're quoting.
Dan DeLong: Yeah.
Final Thoughts and Upcoming Topics
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Dan DeLong: Any final aim but any, anything that you wanted to make sure as far as the reports, of job costing, get across here.
Shanna Quinn: I just, again, it is just I think that, [00:43:00] the reoccurring theme in a lot of our calls is that everything always varies. It depends based off of the industry type and jobs type that you're working with and supporting.
But the setups are always. So key to making sure that what your system spits out at you and as a report is super is, accurate. I'll put it out there again, if anyone has questions on how to set something up and specifically on a certain topic around this that maybe we didn't discuss happy to have you reach out to me.
And we can either touch on it or I can have a sidebar email. Or conversation with you about it to make sure that you're confident and comfortable with how things are, working within the system.
Dan DeLong: All right. And then part is your B for cg group that you're creating. How give us a status [00:44:00] update on, on, on that.
Shanna Quinn: So we are finally ready. It just grew into so much more than I was anticipating. Big thanks for the Intuit Conference and with Dan. I'm really excited to about what it's morphed and grown into. And it only just means so much more. Options. So much more now is available to our members that become that sign up with us.
And we'll also now have a firm level membership, which I think I put out there last week. So it's all super exciting. Monday we are doing a soft launch where we'll be posting information about it on our social media. But so sites tuned for some information, but soft launch is December 15th, and then the the go [00:45:00] live is going to be now January 1st for both small business.
Owners of trades looking for accounting professionals and for the accounting professionals and bookkeepers to sign on with us and become members. So very, exciting.
Dan DeLong: Wanna check out on this website? We've got a QR code up there at the, top there. You can just whip out your phone.
If you're watching us live replay, and we'll put the link in the notes as well, so you can always check that out. Next week we're gonna be talking about controls, workflows, and automation. So this is where the efficiencies come in, right? Or being able to, once you've set it up and once you've established those things allowing an action.
Create another re action [00:46:00] where you're gonna have when, it comes to people, processes, and programs you're gonna take a lot of the people out of the being the single source of failure when it comes to these automations, right?
Shanna Quinn: What it, what an intuit poem. So it's not gonna just be AI and or AI intelligence.
Automation. Intelligence. Now you're removing human intelligence, or and you're, what you're saying is human error. So now you can just clean ai.
Dan DeLong: Exactly. The machine made me do it. My dog ate my work.
All right, so hopefully everybody has a great week and we'll see you next time on the workshop Wednesday. [00:47:00] [00:48:00]
