Your Scalable Growth Model

This account is designed to support the lifestyle of the owner. Add up all salaries, draws, and personal transactions run through the business. Salaries and wages can be found on your Profit & Loss Statement (or W2). You may also find personal transactions run through the business on the P&L (its ideal to keep personal spending off of the business book). Draws and Distributions are located on the Balance Sheet in the Equity section.
This includes: - Total wages from payroll (gross, including taxes) *Do not include payroll tax here if you have induced it in your taxes paid section. - Owner’s draws/shareholder distributions (salary, distributions, bonuses) - Owner’s health insurance - Company contributions to retirement - Owner’s vehicle expenses: Loan or lease payment (estimated amount or % of personal use) Insurance (estimated amount or % of personal use) Fuel (estimated amount or % of personal use) Repairs & Maintenance (estimated amount or % of personal use) - Owner's Cell Phone (estimated amount or % of personal use) - Other personal expenses paid by business

Locate the details of the total tax payments that have been made toward the owner’s personal income taxes, as well as the taxes paid on the business’ profit here.

Enter the total of all the operating expenses (OPEX). Avoid the expenses you already accounted for that were listed in the COGS, such as materials and subcontractors, field labor, and equipment. Do not include operations payroll, owner’s comp, depreciation, and amortization. Do include fixed operating expenses such as rent, office supplies, and utilities. Don’t forget about the liabilities, which are the debts that you owe. The balance sheet makes it easy to distinguish your liabilities from monthly payments on (for example) credit cards that you use to purchase goods and that may already be accounted for in expenses such as materials.