Norman Professional Services

Ever wonder where your money is tied up during a massive project? Accountants call it WIP (Work in Process), and it is the hidden key to figuring out your actual project profitability.

Whether you are building houses with drywall and framing, or building websites with months of team labor, knowing your WIP prevents you from losing money before a project even crosses the finish line.

Watch related videos here:
Job Costing
https://youtu.be/dpL5FhF1E_Y?si=R3nM_Hn20TpWgTjQ

👉 Do you track your WIP, or are you hearing about this for the first time?
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

Ever look at your financial reports and wonder, "What the heck are Retained Earnings?" 🤔

It sounds like boring accounting jargon, but it is actually one of the coolest numbers on your balance sheet. Think of it as your business’s financial scoreboard.

When your business makes a profit at the end of the year, that money doesn't just disappear from your stats. It rolls over from your Income Statement right onto your Balance Sheet into an account called Retained Earnings.

If you want a quick snapshot of how much cumulative profit your business has kept and held onto since Day 1, this is the exact number you need to look at.

Watch related videos here:
Balance Sheet
https://www.youtube.com/watch?v=mjNF74DaWbE

Owner's Equity
https://youtu.be/ApDpAs3MmdQ?si=6Udgi2PfhDHBm80j

👉 What is your Retained Earnings number telling you? Want to understand your numbers better?
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

What’s the difference between a regular bill and a major business upgrade? Capital expenses! 💻

If you’re buying high-ticket items like computers, office furniture, or heavy machinery, you’re investing in assets. Because they cost more, you need to budget ahead, build cash reserves, or look into financing.

Watch to learn how to plan for your business growth!

Watch related videos here:

Operating expenses
https://youtube.com/shorts/GO7P39mb9UU?si=DtthIk3vC2L_G_PY

Budget
https://youtube.com/shorts/wKRt0t4E1Gs?si=F_FeBYzrwU4QXZhY

Forecasts
https://youtu.be/ehxlyh3MANA?si=nYklNmN5o-AGJq0E

👉 Confused about your numbers? Book a strategy call using the link below and let's clean up your books!
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

Ever wonder why your bank account says one thing, but your profit report says another? 😲

In accounting, "disbursements" and "operating expenses" are not the same thing. A disbursement is simply any cash that leaves your bank account. Operating expenses, however, are the specific costs that actually land on your income statement, like your overhead, rent, insurance, or payroll.

If you want to truly understand your business growth, you have to know how these daily costs affect your actual profitability.

Watch related videos here:

Capital Expenses
https://youtube.com/shorts/ndZ3VQciwmQ?si=ymSz_r1pMxRyIlE-

Operating Cashflow
https://youtu.be/SGQhdQu3Wjs?si=kaqsNrSmfEI9o-cn

Budget
https://youtube.com/shorts/wKRt0t4E1Gs?si=F_FeBYzrwU4QXZhY

👉 Confused about your numbers? Book a strategy call using the link below and let's clean up your books!
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

Most business owners look at their Income Statement and think they see the full picture of their debt, but they are often being deceived.

Your monthly payment is actually split into two parts: Interest and Principal. If you aren't looking at your Balance Sheet, you have an artificially low sense of what you're actually paying.

Watch to find out where your cash is really going!

Watch related videos here:

Days of Cash
https://youtu.be/FCrx9TsPUSM?si=H-Xg0WHjgXlAbjHq

Burn Rate
https://youtu.be/7pr-CdvW9tQ?si=oClKQ4Lf86aii3DP

Do you check your Balance Sheet every month?
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

Ever wondered why your bank account or project timeline doesn't look the way you planned?

In accounting, we call that a Variance. It’s simply the difference between what we thought would happen and what actually happened. Whether it’s money, time, or quantities, understanding these gaps helps you fix faulty assumptions and improve your performance.

Watch related videos here:

Budget
https://youtube.com/shorts/wKRt0t4E1Gs?si=F_FeBYzrwU4QXZhY

Forecasts
https://youtu.be/ehxlyh3MANA?si=nYklNmN5o-AGJq0E

Stop guessing and start adjusting!
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

Most business owners only look at their income statement, but that’s where the "hidden gap" lives.

Your break-even point doesn't account for loan payments or owner draws. If you aren't calculating your actual monthly cash requirement, you're missing the full picture of your cash burn.

Watch related videos here:

Break-Even Point
https://youtube.com/shorts/6nwUo0MgMTA?si=qp9C9oRaVQdzw3s7

Days of Cash
https://youtu.be/FCrx9TsPUSM?si=KRNpiJABR9ihzEH0

Want to stop the burn?
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

You can't grow what you don't measure!

The break-even point is the most critical number for any business owner to know.

It is the exact moment where your revenue and expenses are identical: meaning you aren't losing money, but you aren't in the profit zone yet.

Here is the simple way to calculate your survival number!

Watch related videos here:

Cash Burn
https://youtube.com/shorts/QIzzEJloc0M?si=mqbyBm1haJdJSs6M

Income Statement
https://youtu.be/qUdvv6biL9w?si=mDLrwX7y1cab1cQU

Stop guessing and start counting!
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

Ever wonder why cash in the bank doesn't always show up on your profit reports?

It is called Deferred Revenue. In this video, I am breaking down why prepayments for services or products are actually a liability.
Learn how to move that money from your Balance Sheet to your Income Statement once the job is finally done to keep your financials clean.

Watch related videos here:

Earning vs. Recognizing Revenue
https://youtube.com/shorts/2rDpHf4NPXY?si=rRst8TGBsiHyjke1

Balance sheet
https://www.youtube.com/watch?v=mjNF74DaWbE&t=20s

Is your revenue being tracked correctly?
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com

Ever wonder why your bank account doesn't match your sales? 🧐

Understanding how to EARN and RECOGNIZE revenue is the secret to staying profitable and keeping your cash flow positive. Whether you’re a freelancer or a small business owner, knowing when that money actually counts is a total game changer for your growth!

Watch related videos here:

Accrual Basis
https://youtu.be/KZdWrSSniGM?si=9fWzlP7ORPQZiJt9

Cash Basis
https://youtu.be/nlvSqBkHHnM?si=vPE1oDT6_eiX89GM

Deferred Revenue
https://youtube.com/shorts/6RYZ_b0i6xw?si=B2-s6LeVf810tvrj

Are you tracking your sales when you do the work or when the cash hits your account?
📅 Book a free consultation: https://normanprof.com/walter-booking
🌐 Visit: https://normanprof.com