There are many reasons you should have a Profit-First bookkeeper taking care of your business finances. You want to ensure that your company is profitable and that money is flowing where it needs to be. A Profit-First bookkeeper maintains detailed records and uses the unique Profit-First system to make your business finances work for you.
Are you a business owner that constantly checks their bank account to see how your business is doing financially? Do you have an accounting software you utilize or even a spreadsheet you use to track?
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.
‘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.
