All figures below are pulled directly from The Bluth Company's QuickBooks Online file (accrual basis) via the Intuit connector — no manual exports. Data refreshed Jun 6, 2026.
Each metric is benchmarked against its rolling 3-month average. Variance detail lives on the Controller tab.
| Month | Revenue | COGS | Gross Profit | Net Income |
|---|---|---|---|---|
| Jun 2025 | $258,431.20 | $160,227.34 | $98,203.86 | $47,180.62 |
| Jul 2025 | $274,918.65 | $172,390.11 | $102,528.54 | $51,067.90 |
| Aug 2025 | $291,246.10 | $180,572.86 | $110,673.24 | $57,292.41 |
| Sep 2025 | $267,583.44 | $166,901.55 | $100,681.89 | $47,938.16 |
| Oct 2025 | $302,175.88 | $187,349.02 | $114,826.86 | $60,413.55 |
| Nov 2025 | $289,640.27 | $181,025.17 | $108,615.10 | $54,209.83 |
| Dec 2025 | $335,812.49 | $208,203.74 | $127,608.75 | $71,540.12 |
| Jan 2026 | $451,092.54 | $274,124.45 | $176,968.09 | $136,580.15 |
| Feb 2026 | $220,019.04 | $141,434.70 | $78,584.34 | $39,289.88 |
| Mar 2026 | $296,794.75 | $180,564.89 | $116,229.86 | $60,015.18 |
| Apr 2026 | $193,883.98 | $199,342.68 | −$5,458.70 | −$49,506.00 |
| May 2026 | $193,897.54 | $163,128.00 | $30,769.54 | −$20,484.84 |
| YTD |
Ties to the QBO P&L report to the penny. April’s COGS exceeded revenue — labor and materials committed to projects that didn’t bill.
Bluth has roughly four months to act. At the current burn rate (May NI −$20K, Apr NI −$50K), cash on hand of $83,092 supports ~3–4 months. Meanwhile $163,911 in AP is 90+ days overdue (Sitwell Enterprises alone at $73,836). The business cannot self-fund its way out from operations alone.
Three levers, in order: (1) restore revenue to the $292K+/mo Q1 baseline — requires bid pipeline visibility we don't currently have; (2) cut fixed costs to fit the $194K/mo run-rate — OpEx grew from 9% to 26% of revenue as revenue fell; (3) bridge capital — a $164K term loan or SBA Express buys 6–8 months of working room while levers 1 and 2 take effect. A vendor triage and financing plan must be set within 14 days.
Full variance-by-line detail: Controller tab → Variances vs. the 3-month baseline.
Questions and requests from any channel land here automatically — answered, delivered, or flagged. Nothing said in a meeting dies in a notebook.
Demo of the conversation feed — in a live engagement this is populated automatically from your email, calls, and meeting notes.
→ For interpretation of these trends, see the Controller tab → Insight. For strategic implications and outlook, see the CFO tab → Foresight.
The Bluth Company runs the full Keel catalog — illustrative pricing.
| Service | Scope | Monthly | One-time setup |
|---|---|---|---|
| Bookkeeping | Accrual basis · 47 workflows | $3,295/mo | $2,500 |
| Controller | Full catalog · core included with bookkeeping | $4,120/mo | $9,800 |
| CFO | Full catalog | $6,930/mo | $21,400 |
| Total | $14,345/mo | $33,700 |
From your Business Processes & Procedures worksheet: The Bluth Company approves bills before payment and owns estimates, customer relationships, and the tax return. Keel owns every workflow on the Workflows tab — AP entry and payment runs, invoicing support, payroll journal entries via Gusto, the monthly close, and all reporting.
Active since June 2025 — onboarding complete, all bank and card feeds live, twelve closed months on file. Open items are tracked on the Notes & Needs tab.
How Keel delivers on the engagement: By Service (the service map — click a category to expand its items), plus project management and implementation views.
3 service layers · 26 categories · 185 services in your engagement. Card color = layer · count = services within. Click any category to see its individual service items.
Kanban view of cross-engagement projects: bookkeeping cleanups, controller setup work, CFO advisory initiatives, and onboarding. Move cards between columns as status changes.
3-month roadmap grouped by phase. Each phase has an owner; sub-tasks ladder down within. Bar position shows when work is active.
The complete monthly package produced by your bookkeeping engagement — statements, agings, and reconciliation status. Pure facts: interpretation lives on the Controller tab; outlook on the CFO tab.
May brought in $193,897 and finished with a loss of $20,485 — the second losing month in a row. Of every dollar that came in, about 84 cents went to the cost of doing the work, which left roughly $31,000 for everything else; everything else cost $51,000. Cash ended the month at $83,092, well up from the February low of $28,000. Your customers are paying you in about 24 days, which is quick. The books are complete except for the statements listed below — once those arrive, May is final.
| Tier | Comes with | What it includes | Ask us anything — we… |
|---|---|---|---|
| Standard | Cash basis | Monthly P&L, balance sheet, cash flow, recon status | Answer any question about your reports |
| Custom | Hybrid basis | + class/department/location views, weekly AR & AP agings | Adjust existing reports on request — re-slice, rename, add a dimension |
| Premium | Accrual basis | + accrual-grade statements (WIP, prepaids, deferrals), KPI dashboards | Build new reports & dashboards on request — say it, see it in the portal |
Requests arrive by email, call, or meeting — captured automatically, delivered into this portal. Fair-use applies to new-report builds; anything unusual gets scoped before work starts.
Email · Jun 4“What’s the $18,500 deposit on the 2nd? Don’t recognize it.” — Traced same day: Stonegate progress payment, invoice #1247, matched and categorized. Answered — included in every tier.
Call · Jun 3“Can the P&L split coatings out from restoration?” — Class structure updated; the June statements arrive split by service line. Adjusted — a Custom-tier request.
Email · May 30“I want a weekly cash-in / cash-out view, one page, every Monday.” — New report built and scheduled; first one landed Jun 2. Built new — a Premium-tier request, included on Accrual.
Customer-level AR detail. Top customers shown by total outstanding balance.
AR built up steadily Jan to Mar as pipeline filled, then collections caught up in Apr/May.
| Bucket | Jan | Feb | Mar | Apr | May |
|---|---|---|---|---|---|
| Current | $0 | $0 | $28,227 | $0 | $0 |
| 1-30 days | $7,753 | $84,938 | $97,018 | $127,696 | $114,849 |
| 31-60 days | $1,454 | $7,753 | $43,627 | $30,668 | $36,054 |
| 61-90 days | $2,708 | $1,454 | $7,753 | $7,556 | $0 |
| 91+ days | $0 | $2,708 | $2,708 | $3,882 | $1,174 |
| Total AR | $11,916 | $96,853 | $179,333 | $169,801 | $152,077 |
| Customer / Project | Current | 1-30 | 31-60 | 61-90 | 91+ | Total |
|---|---|---|---|---|---|---|
| Lucille Austero / Stonegate Management Company | $0 | $39,935 | $0 | $0 | $0 | $39,935 |
| Rita Leeds / Vista Terrace Homeowners Association | $0 | $31,708 | $0 | $0 | $0 | $31,708 |
| Maggie Lizer / MRP Property Management | $0 | $10,914 | $5,784 | $0 | $0 | $16,697 |
| Balboa Marina Estates | $0 | $0 | $13,455 | $0 | $0 | $13,455 |
| Seaward Commons Apartments | $0 | $0 | $11,189 | $0 | $0 | $11,189 |
| Steve Holt / Tantamount Residential | $0 | $11,184 | $0 | $0 | $0 | $11,184 |
| Kitty Sanchez / Northgate Realty Partners | $0 | $10,991 | $0 | $0 | $0 | $10,991 |
| Gene Parmesan | $0 | $7,380 | $0 | $0 | $0 | $7,380 |
| Summit Ridge Community Corporation c/o Standpoor Gr | $0 | $0 | $3,570 | $0 | $0 | $3,570 |
| Ann Veal / Milford Association & Property Manageme | $0 | $2,737 | $0 | $0 | $0 | $2,737 |
| TIC Marina Point Landing c/o Northgate Realty Partners | $0 | $0 | $2,056 | $0 | $0 | $2,056 |
| Seaward Commons | $0 | $0 | $0 | $0 | $1,174 | $1,174 |
AR aging is well-managed. DSO of 23.9 days is excellent (industry norm 30-45 days). The 91+ bucket holds only $1,174 — under 1% of AR. Top customer concentration is moderate.
5-month AR trajectory: $12K (Jan) → $97K (Feb) → $180K (Mar) → $172K (Apr) → $152K (May).
5-month AP aging composition. Watch the 91+ band (red) grow as the 30-day bands shrink — that's the crisis developing.
Vendor-level AP detail. Top vendors shown by total outstanding balance.
Total AP roughly stable ($212-410K range), but COMPOSITION shifted dramatically. The 91+ bucket exploded from $80K (Jan) to $164K (May) — visible breakpoint at April.
| Bucket | Jan | Feb | Mar | Apr | May |
|---|---|---|---|---|---|
| Current | $44,632 | $7,881 | $16,551 | $27,829 | $16,792 |
| 1-30 days | $68,563 | $38,259 | $28,807 | $34,642 | $17,581 |
| 31-60 days | $38,659 | $46,270 | $31,845 | $22,747 | $16,884 |
| 61-90 days | $10,467 | $9,790 | $47,238 | $20,960 | $5,039 |
| 91+ days | $137,300 | $109,690 | $119,481 | $152,424 | $163,911 |
| Total AP | $299,620 | $211,891 | $243,920 | $258,602 | $220,208 |
| Vendor | Current | 1-30 | 31-60 | 61-90 | 91+ | Total |
|---|---|---|---|---|---|---|
| Sitwell Enterprises LLC | $0 | $0 | $0 | $0 | $73,836 | $73,836 |
| Atlas Building Specialties | $6,735 | $7,761 | $6,336 | $507 | $16,583 | $37,923 |
| Compass Painting & Construction | $0 | $0 | $0 | $4,243 | $29,236 | $33,479 |
| Northwind Painting Corp | $0 | $0 | $0 | $0 | $21,637 | $21,637 |
| Oswald Scaffolding Inc. | $0 | $1,788 | $10,548 | $0 | $0 | $12,337 |
| Kessler Consulting Group, Inc. | $0 | $0 | $0 | $0 | $10,585 | $10,585 |
| BLX Supply | $0 | $0 | $0 | $289 | $5,865 | $6,154 |
| Ferroline | $4,554 | $253 | $0 | $0 | $0 | $4,806 |
| Keel | $0 | $4,087 | $0 | $0 | $0 | $4,087 |
| JT Concrete Pumping | $0 | $2,667 | $0 | $0 | $0 | $2,667 |
| Shoreline Lumber | $2,290 | $81 | $0 | $0 | $0 | $2,371 |
| Peninsula Paint | $1,743 | $0 | $0 | $0 | $0 | $1,743 |
| Elgin Construction Services | $0 | $0 | $0 | $0 | $1,570 | $1,570 |
| Pinnacle Maintenance Service Inc. | $0 | $0 | $0 | $0 | $1,445 | $1,445 |
| Bayside Mechanical | $0 | $0 | $0 | $0 | $1,296 | $1,296 |
74% of AP ($163,911) is over 90 days old. Top exposure: Sitwell Enterprises at $73,836. The aged balance is concentrated in subcontractors.
5-month AP trajectory: $299K (Jan) → $212K (Feb) → $244K (Mar) → $258K (Apr) → $220K (May).
The strategic implication is on the CFO tab (Strategic Memo · AP Crisis), which traces the April inflection.
Revenue cascades to Net Income through COGS, Gross Profit, and Operating Expenses.
Variance vs. rolling 3-month baseline. Conservative thresholds: Green within ±10% (or ±1pp), Amber 10-20% (or 1-2pp), Red beyond.
| Jan 2026 | Feb 2026 | Mar 2026 | Apr 2026 | May 2026 | 3-mo Avg | Status | |
|---|---|---|---|---|---|---|---|
| Revenue | $451,093 | $220,019 | $296,795 | $193,884 | $193,898 | $236,899 | −18.2% |
| COGS | $274,124 | $141,435 | $180,565 | $199,343 | $163,128 | $173,781 | −6.1% |
| Gross Profit | $176,968 | $78,584 | $116,230 | −$5,459 | $30,770 | $63,118 | −51.2% |
| Gross Margin % | 39.2% | 35.7% | 39.2% | −2.8% | 15.9% | 24.0% | -8.1pp |
| Operating Expenses | $40,388 | $39,294 | $56,215 | $44,047 | $51,254 | $46,519 | +10.2% |
| OpEx as % of Revenue | 9.0% | 17.9% | 18.9% | 22.7% | 26.4% | 19.8% | +6.6pp |
| Net Income | $136,580 | $39,290 | $60,015 | −$49,506 | −$20,485 | $16,600 | loss vs +$16.6K avg |
| Net Margin % | 30.3% | 17.9% | 20.2% | −25.5% | −10.6% | 4.1% | -14.7pp |
Accrual basis. Current month (May 2026) + 5-month totals (Jan-May 2026).
| Account | May 2026 | % Rev | 5-Mo (Jan-May) | % 5-Mo Rev |
|---|---|---|---|---|
| INCOME | ||||
| 3000 Construction Revenue | $144,963 | 74.8% | $1,105,169 | 81.5% |
| 3050 Project Support & Compliance | $47,474 | 24.5% | $247,394 | 18.2% |
| 3100 Business Management & Oversight | $1,460 | 0.8% | $3,124 | 0.2% |
| Total Income | $193,897 | 100.0% | $1,355,688 | 100.0% |
| COST OF GOODS SOLD | ||||
| 4000 Construction Costs | $146,456 | 75.5% | $830,171 | 61.2% |
| 4005 Wages - Laborers | $12,354 | 6.4% | $82,391 | 6.1% |
| 4010 Payroll Taxes-Constr Wages | $0 | 0.0% | $22,544 | 1.7% |
| 4015 Workers Comp Insur-Cosntr | $4,308 | 2.2% | $21,544 | 1.6% |
| 4020 Health and Accident Ins-Constr | $10 | 0.0% | $1,945 | 0.1% |
| Total COGS | $163,128 | 84.1% | $958,595 | 70.7% |
| GROSS PROFIT | $30,770 | 15.9% | $397,093 | 29.3% |
| OPERATING EXPENSES | ||||
| *Uncategorized Transactions | $2,190 | 1.1% | $2,190 | 0.2% |
| 6310 Advertising | $5,629 | 2.9% | $18,423 | 1.4% |
| 8210 Rent-Office | $6,169 | 3.2% | $24,785 | 1.8% |
| 8230 Repairs and Maint - Office | $584 | 0.3% | $3,775 | 0.3% |
| 8250 Utilities | $1,100 | 0.6% | $9,903 | 0.7% |
| 8260 Telephone | $99 | 0.1% | $99 | 0.0% |
| 8270 Office Supplies | $3,970 | 2.0% | $19,051 | 1.4% |
| 8330 Leases-Computer Software | $2,422 | 1.2% | $12,617 | 0.9% |
| 8410 Vehicles Expenses-Admin | $4,189 | 2.2% | $18,866 | 1.4% |
| 8460 Travel Expense | $1,866 | 1.0% | $8,067 | 0.6% |
| 8470 Meals | $2,681 | 1.4% | $9,750 | 0.7% |
| 8540 License Fees | $526 | 0.3% | $526 | 0.0% |
| 8690 Insurance-Other | $9,278 | 4.8% | $47,273 | 3.5% |
| 8710 Accounting Services | $4,027 | 2.1% | $14,361 | 1.1% |
| 8730 Consulting Services | $2,810 | 1.4% | $12,136 | 0.9% |
| 8790 Other Professional Services | $1,172 | 0.6% | $8,057 | 0.6% |
| 8920 Dues and Subscriptions | $1,042 | 0.5% | $4,437 | 0.3% |
| 8930 Bank Service Charges | $444 | 0.2% | $2,285 | 0.2% |
| 8770 Recruiting and Hiring-Admin | $0 | 0.0% | $488 | 0.0% |
| 8780 Training and Education-Admin | $0 | 0.0% | $883 | 0.1% |
| 8590 Taxes-Other | $0 | 0.0% | −$3,192 | −0.2% |
| 8720 Legal Services | $0 | 0.0% | $13,335 | 1.0% |
| 8320 Leases-Computer Eqpt | $0 | 0.0% | $1,166 | 0.1% |
| Total Operating Expenses | $51,254 | 26.4% | $231,199 | 17.1% |
| NET INCOME | −$20,485 | −10.6% | $165,894 | 12.2% |
May 2026 revenue of $193,897 produced $30,770 in gross profit (15.9%) and −$20,485 in net income (-10.6% margin). Gross margin is strong for a construction contractor.
Revenue mix: Construction Revenue at $144,963 (74.8% of total). Project Support & Compliance $47,474 (24.5%). Business Mgmt & Oversight flat fee $1,460.
Month-end positions. Material movements (red/amber) flagged in commentary.
| Jan 31 | Feb 31 | Mar 31 | Apr 31 | May 31 | 3-mo Avg | Status | |
|---|---|---|---|---|---|---|---|
| Total Assets | $499,043 | $417,377 | $546,648 | $517,807 | $473,510 | $493,944 | −4.1% |
| Cash on Hand | $195,851 | $28,370 | $74,742 | $53,608 | $83,092 | $52,240 | +59.1% |
| AR Total | $11,916 | $96,853 | $179,333 | $169,801 | $152,077 | $148,662 | +2.3% |
| AP Total | $299,620 | $211,891 | $243,920 | $258,602 | $220,208 | $238,138 | −7.5% |
| Total Liabilities | $484,894 | $390,968 | $474,833 | $393,607 | $271,229 | $419,803 | −35.4% |
| Total Equity | $14,150 | $26,409 | $71,815 | $124,200 | $202,281 | $74,141 | +172.8% |
Accrual basis. Books are in balance: Total Assets $473,510 = Total Liabilities + Equity $473,510.
| Account | Amount | % of Assets |
|---|---|---|
| CURRENT ASSETS | ||
| 1000 Grand Harbour Checking (0142) | $83,092 | 17.5% |
| 1001 Grand Harbour Checking (0319) | $0 | 0.0% |
| 1002 Grand Harbour Savings (0026) | $0 | 0.0% |
| 1010 Petty Cash | $0 | 0.0% |
| 1072 Bill.com Money Out Clearing | $0 | 0.0% |
| Bank Accounts | $83,092 | 17.5% |
| 1210 Accounts Receivable | $94,926 | 20.0% |
| Accounts Receivable | $94,926 | 20.0% |
| 1430 Employee Loans | $3,796 | 0.8% |
| Undeposited Funds | $0 | 0.0% |
| Other Current Assets | $3,796 | 0.8% |
| Total Current Assets | $181,814 | 38.4% |
| FIXED ASSETS | ||
| 1830 Office Furniture and Equipment | $2,592 | 0.5% |
| 1845 Mercedes-Benz | $71,216 | 15.0% |
| 1940 Accum Depreciation-Vehicles | $-48,388 | −7.5% |
| 1840 Vehicles | $35,893 | 7.6% |
| 1850 Construction Equipment | $171,392 | 36.2% |
| 1950 Accum Depreciation-Constr Eqpt | $-50,000 | −7.7% |
| 1850 Construction Equipment | $134,892 | 28.5% |
| 1880 Leasehold Improvements | $118,321 | 25.0% |
| Total Fixed Assets | $291,696 | 61.6% |
| TOTAL ASSETS | $473,510 | 100.0% |
| CURRENT LIABILITIES | ||
| 2110 Accounts Payable | $223,503 | 47.2% |
| Accounts Payable | $223,503 | 47.2% |
| 2135 Capital One Quicksilver (0455) | $4,168 | 0.9% |
| 2140 Capital One Quicksilver (0512) | $504 | 0.1% |
| 2145 Capital One Venture (0688) | $471 | 0.1% |
| 2150 AppleCard (0731) | $-5,560 | −0.9% |
| 2155 Grand Harbour Bank (0287) | $657 | 0.1% |
| 2160 Divvy Credit Cards | $20,525 | 4.3% |
| 2165 Citi Card (0964) | $0 | 0.0% |
| 2130 Credit Cards Payable | $22,266 | 4.7% |
| Credit Cards | $22,266 | 4.7% |
| 2210 Notes Payable | $109,500 | 23.1% |
| 2211 Ameriquest | $101,318 | 21.4% |
| 2210 Notes Payable | $210,818 | 44.5% |
| 2345 Payroll Liabilities | $0 | Clean |
| Other Current Liabilities | $-21,903 | −3.4% |
| Total Current Liabilities | $229,780 | 48.5% |
| LONG-TERM LIABILITIES | ||
| 2520 Auto Loan | $41,449 | 8.8% |
| Total Long-Term Liabilities | $41,449 | 8.8% |
| TOTAL LIABILITIES | $271,229 | 57.3% |
| EQUITY | ||
| 2960 Distributions,Div., and Draws | $-253,415 | −39.1% |
| 2920 Retained Earnings | $-9,787 | −1.5% |
| Net Income | $165,894 | 83.3% |
| TOTAL LIABILITIES + EQUITY | $473,510 | 100.0% |
Total assets $473,510 = Total L+E $473,510. Books balance. Working capital is negative ($-65,707) primarily because of the resolvable negative payroll liability.
Cash flow computed from Net Income + Balance Sheet movements. Operating + Investing + Financing should equal the actual cash change. Differences indicate non-cash items (depreciation, accruals) or unmodeled changes.
| Cash Flow Component | Jan 2026 | Feb 2026 | Mar 2026 | Apr 2026 | May 2026 | 5-Mo Total |
|---|---|---|---|---|---|---|
| Net Income | $136,580 | $39,290 | $60,015 | −$49,506 | −$20,485 | $165,894 |
| Adjustments to reconcile NI to cash: | ||||||
| Change in AR | −$10,620 | −$116,354 | −$112,986 | $9,532 | $74,875 | −$124,333 |
| Change in AP | $13,145 | −$120,178 | $32,029 | $14,682 | −$48,081 | −$86,262 |
| Change in Credit Cards | $6,381 | $10,678 | −$5,878 | $3,119 | −$2,165 | $14,305 |
| Change in Payroll Liabilities | −$39,123 | $0 | $0 | −$157,148 | −$153,548 | −$349,819 |
| Cash from Operations | $119,793 | $166,623 | $6,442 | $46,833 | $25,652 | $226 |
| Investing Activities | ||||||
| Change in Fixed Assets (net) | −$3,485 | −$0 | −$575 | −$0 | −$0 | −$4,060 |
| Cash from Investing | −$3,485 | −$0 | −$575 | −$0 | −$0 | −$4,060 |
| Financing Activities | ||||||
| Change in Debt (Notes + Loans) | −$23,115 | −$23,115 | $56,126 | $15,691 | $26,392 | $64,462 |
| Owner Distributions/Contributions | −$1,262 | −$37,028 | −$20,012 | −$19,422 | −$19,026 | −$96,751 |
| Cash from Financing | −$24,377 | −$60,143 | $41,517 | $1,513 | $12,503 | −$8,447 |
| NET CHANGE IN CASH (computed) | $99,454 | $226,766 | $47,541 | $44,761 | $38,154 | $12,733 |
| Actual cash change (from BS) | $99,454 | −$229,426 | $46,373 | −$28,951 | $29,483 | −$18,226 |
The Statement of Cash Flows tells the operational story. Key observations across the period:
Status of all bank, credit card, loan, payroll, and other reconciled accounts at month-end.
| Account | Type | Reconciled Through | Status | Notes |
|---|---|---|---|---|
| 1000 Grand Harbour Checking (0142) | Bank | 05/31/2026 | Recon pending | Activity confirmed in GL; bank statement match pending |
| 1001 Grand Harbour Checking (0319) | Bank | — | Recon needed | $0 balance; confirm if active |
| 1002 Grand Harbour Savings (0026) | Bank | — | Recon needed | $0 balance; confirm if active |
| 1010 Petty Cash | Bank | — | Recon needed | Confirm if active |
| 1072 Bill.com Money Out Clearing | Clearing | 05/31/2026 | Confirm zero | Clearing accounts should zero at month-end |
| 2130 Credit Cards (7 cards) | Credit Card | 05/31/2026 | Recon pending | Total $22,266; per-card recon to lender statements |
| 2210 Notes Payable (multiple) | Loan | — | Schedule needed | Including Ameriquest MCA $101,318 |
| 2345 Payroll Liabilities | Payroll | — | ✓ Clean | $0 balance |
| 2520 Auto Loan | Loan | — | Schedule needed | Amortization schedule should match BS $41,449 |
Why the month happened the way it did. The facts are in Standard Reporting; the strategic outlook is on the CFO tab. This is the "why" in between.
Here’s what happened, without the jargon. You lost money in April and May because the work cost more to deliver than it brought in. Revenue has fallen by more than half since January, but crew and material costs didn’t fall with it — in April you spent more on the jobs than you billed for them. May looked a little better only because costs came down, not because sales did. Crew C is running at 61% utilization against a 78% target, and that idle time is costing you about $6,800 a month. Until job costing is live we are diagnosing from totals; once it is, we’ll know whether this is one bad project or every project.
Bluth had two consecutive loss months. April lost $49,506 (NI) on a -2.8% GM; May lost $20,485 on a 15.9% GM. Five-month net income of $165,894 is carried almost entirely by January's strong $137K month — Feb through May trended progressively weaker.
The pattern points to a labor utilization problem: revenue dropped 57% from January's $451K to May's $194K, but COGS did not scale down in proportion. April's COGS ($199K) exceeded revenue ($194K) — meaning labor and material were committed to projects that didn't bill. May's partial GM recovery (from -2.8% to 15.9%) came from a $36K COGS reduction, not new revenue.
What's needed: Job costing (/Bosun) is the diagnostic — it will tell whether April was one bad project, a project gap that left crews idle, or systemic margin erosion across all work. Without job-level data, we're working from totals. Bid pipeline visibility (/Bosun + CRM data) determines whether the revenue softness is demand-side or capacity-side.
Call · Jun 3Owner suspected Crew C. Confirmed: 61% utilization vs the 78% target — standby time costs ≈$6,800/mo in unabsorbed labor. Deployment fix live under Labor & Compensation; re-sounded at the June close.
Email · Jun 5Grand Harbour Bank asked about the Sudden Valley overrun. Close-review note added: change-order documentation on remaining phases moves to dual sign-off until the recovery plan proves out.
| Job costing & WIP schedule | Live — net overbilled +$8,445 (cash-favorable) |
| Labor burden on jobs | 24% applied from May close |
| Field utilization | 71% vs 78% target — Crew C the drag |
| Internal controls | Dual approval · 3-way match · June review clean |
| Policies & SOPs | Manual v1.0 · 4 of 6 SOPs |
Detail lives under the category pills above — every line links to a delivered service item.
Five-month margin path: Jan 39.2% → Feb 36.4% → Mar 38.8% → Apr -2.8% → May 15.9%. The Q1 plateau collapsed in April; May partial recovery still well below band. Pattern signals real margin compression, not a one-off project anomaly.
| Metric | May | Why it looks this way |
|---|---|---|
| Revenue | $193,897 | Flat vs Apr ($194K). Two months in a row of declining demand from the Jan peak ($451K). Job pipeline slowed. |
| Gross Profit % | 15.9% | Well below the Jan-Mar 36-39% band. Recovered from April's loss but still less than half of Q1 levels — real margin compression. |
| OpEx % of Revenue | 26.4% | Up from 9% in January. Fixed costs same, revenue declining → ratio rising mechanically. |
| Net Income | −$20,485 | Confirmed loss. Two consecutive loss months (Apr −$49,506 May −$20,485). Five-month NI of $165,894 driven almost entirely by January. |
| Cash on Hand | $83,092 | Recovered from Feb low ($28K). AR collections improved; AP catch-up has not happened. |
| DSO | 23.9 days | Excellent. Customers paying on cycle. |
| DPO | 41 days | The central diagnostic is aging, not pace. Vendors funding Bluth — pace looks normal (≈41 days) while 74% of AP sits 91+ days old. |
Pipeline slowdown is independent of the accounting issue — see the consistent decline from Jan.
→ For the forward outlook, the decisions needed, and the strategic plan, see the CFO tab → Foresight.
8 services in this category — Bluth engagement.
7 services in this category — Bluth engagement.
5 services in this category — Bluth engagement.
8 services in this category — Bluth engagement.
8 services in this category — Bluth engagement.
6 services in this category — Bluth engagement.
6 services in this category — Bluth engagement.
7 services in this category — Bluth engagement.
7 services in this category — Bluth engagement.
5 services in this category — Bluth engagement.
Strategic outlook and the decisions ahead. The facts are in Standard Reporting; the diagnosis is on the Controller tab. This is the "what next."
Revenue has been sliding since February, and the bigger problem is that every dollar you bring in now costs about 84 cents to deliver, up from roughly 62 cents in the first quarter. That leaves about $31,000 a month to cover rent, salaries and everything else, and it isn’t covering it — you lost money in April and May. Cash of $83,000 buys you about four months if nothing gets worse, and I’d plan as if it were closer to two. Your customers pay you fast, so this is not a collections problem we can bill our way out of. The two things to fix are what you charge and what it costs you to deliver; the financing below buys the time to fix them.
Three levers, worked in order: restore revenue to the $292K+/mo Q1 baseline (requires bid-pipeline visibility), cut fixed costs to fit the $194K/mo run-rate, and bridge the working-capital gap with a ≈$164K term facility while the first two take hold.
The decisions and forecasts below put dates and owners on each — vendor triage within 14 days, the financing conversation within 30, job costing live within 30.
Meeting · May 28Truck-fleet acquisition (≈$210K, financed) modeled into the 13-week and the capital plan: DSCR would move 1.61 → ≈1.38 — still above the proposed 1.25 covenant, but it consumes the growth tranche for FY27. Framed as a decision for the Jul 14 strategic review; scope flag already in Notes & Needs.
Email · May 27Ameriquest payoff quote expires Jun 30 — refinance decision pulled ahead of expiry on the decision calendar. At ≈$2,100/mo saved, waiting past the quote costs real money.
| Pricing card | Markups 42 / 48 / 35% · 30% GM walk-away floor |
| Capital allocation | 40/40/20 after a $100K cash floor · distributions paused |
| Revenue forecast | $3.4M FY26 pipeline-weighted · $5.2M FY27 target |
| Ameriquest MCA refinance | In motion — saves ≈$2,100/mo |
| Incentive bonus plan | Approved June 1 |
What's available (Cash + collectible AR) vs what's owed (AP 91+). The gap is the financing requirement.
| Decision | Timing | Owner |
|---|---|---|
| Vendor strategy meeting — prioritize critical subs | Within 14 days | Client + Keel |
| Begin SBA Express / term-loan conversation with Grand Harbour Bank | Within 30 days | Client + Keel |
| Refinance Ameriquest MCA | 30–60 days | Client + Keel |
| Set up QBO job costing structure | 60–90 days | Keel |
| Build annual budget (FY2027) | Q3 2026 | Client + Keel |
Sequenced by urgency and dependency. Bars show timing windows; red = must-start-now, amber = within 30, green = 60-90 days out.
Modeled three scenarios against the post-JE cost base (full detail in CFO → Forecasting & Budgeting → Cash flow forecasting):
→ For the diagnostic of what happened, see the Controller tab → Insight. For the descriptive recap, see Standard Reporting → Hindsight.
7 services in this category — Bluth engagement.
8 services in this category — Bluth engagement.
5 services in this category — Bluth engagement.
8 services in this category — Bluth engagement.
7 services in this category — Bluth engagement.
6 services in this category — Bluth engagement.
6 services in this category — Bluth engagement.
6 services in this category — Bluth engagement.
7 services in this category — Bluth engagement.
6 services in this category — Bluth engagement.
Open items, missing data, decisions pending. Use Move to reassign, Mark Complete to close. Categories collapse and persist across reloads.