This week Dan & Steve talk about a few updates and commonly asked questions on the PPP Loan Forgiveness Application. They then dove into the number 2 of the GL Four... "Know Where You Make & Lose Money". 

• Understand
  
  Making money is much more than watching your checking account grow
  
  Knowing and understanding your gross margin contribution – avoiding unprofitable sales
  
  80/20 rule
  
• Design
  
  Designing a system that gives insight into customer level profitability or product line margins
  
  How much time do I spend on billing, collections, & other non-value add drivers?
  
• Implement
  
  Take advantage of modern data programs (QBO, XERO, Intacct, Netsuite) that can import directly into your FP&A system
  
  Set up your Chart of Accounts (COA) around your data reporting & analytics needs (not CPA / tax requirements, etc.)
  
• Measure
  
  Identify the important ratios and have them updated automatically
  
  Review on regular basis weekly or, at minimum, monthly