Accounting for HVAC – Part 3 – The Balance Sheet

In the third and final installment of our Accounting for HVAC series, we will review the Balance Sheet and touch on key areas business owners should monitor on a consistent basis. Overall, the Balance Sheet for an HVAC company will be relatively straight-forward. Cash/AR/Undeposited Funds will likely account for the largest balances, with trucks/vans/vehicles and […]

Accounting for HVAC – Part 2 – Job Costing & Financial Reporting

The next installment of our ‘Accounting for HVAC’ series highlights how HVAC related direct expenses are generally treated, the importance of job costing, and the financial reporting impact when converting cash-basis financials to accrual-basis. It is imperative that these items get treated properly, so your HVAC business can ensure your financials are ‘complete’ and properly […]

Accounting for HVAC Companies – Part 1 – Revenue

There are over 105,000 heating, ventilation, and air conditioning (HVAC) companies in the United States, and each has their own approach to the way they pursue, manage, and account for their business. While there are a few bigger players, most are smaller organizations with a lean back office and minimal accounting and financial reporting experience. […]