pay yourself

What Does it Mean to Pay Yourself First as a Small Business Owner?

If you are an entrepreneur considering starting your own business, or if you’ve already opened your business but you aren’t sure how to facilitate its growth, one of the best pieces of advice out there is to pay yourself first. Learning what this means and putting it into practice is the cornerstone of your small business’s success. 

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accurate bookkeeping

How Accurate Bookkeeping Can Give Your Business the Financial Boost It Needs

If you feel like your business has been stagnant or isn’t going as well as it should be, accurate bookkeeping can give your business the financial boost it needs. Precise accounting provides consistent, clear information that can make a big difference. Accurate bookkeeping brings stability and allows you to keep your business healthy. An expert accountant like Venus Michael can help your small business run more smoothly and even increase its value.

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profit first bookkeeping

What Is Profit First Bookkeeping and Can It Help Your Business?

Profit First is a revolutionary accounting system that throws out the old rules of accounting. This method takes a percentage of the sales to pay owners first. Separate accounts are created to set aside certain percentages of what’s left for other costs. Owners must modify their expenses to fit the model. Profit First turns businesses into money-making machines. It’s a system that’s easy to understand and use. Here’s a little more information about what Profit First bookkeeping is. A professional service like Venus Michael Account-Ability can get you started with this proven method for increasing profit

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profit first

What Does It Mean When an Accountant Says “Profit First”?

Profit First’ was developed by Mike Michalowicz to help small business owners maximize their profits and grow successful businesses. This financial rescue system puts profit ahead of expenses. It changes up traditional accounting rules to ensure that your business maintains predictable profits. This system shows you how to allocate certain percentages of the revenue you have coming into best benefit you. Essentially you are prioritizing your pay as owner followed by your taxes, and other operating expenses. 

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