Your business needs bookkeeping and the services of an accountant. But, why do you need a Profit First accountant? Your accountant is a business professional who keeps and interprets financial records. Your bookkeeper commonly reports to or provides reports for your accountant. Many accountants provide services for an array of businesses while others provide services to large organizations which employ them. A CPA or certified public accountant is an accountant who has achieved state certification and is a step above a general accountant. A Profit First accountant takes their skills a step further by certifying in the Profit First system for guaranteeing profit in your business. At Exigo Business Solutions we not only provide services as accountants, CPAs, and Profit First accountants but as virtual chief financial officers as well.
At Exigo Business Solutions in the Kansas City area, we provide outsourced bookkeeping services. When you outsource your bookkeeping to our accounting firm you will commonly be paying less to have the job done because we do the work efficiently and offer affordable rates. Just as important, we provide insights with our reports that help you run your business more efficiently. Thus, the reduced expenses and increased profits that you see when working with us further reduce the real cost of your bookkeeping.
Our accounting outsourcing services give businesses in the Kansas City area and anywhere in the country accurate and affordable tabulation of your financial data and insightful reports. We help your business run efficiently by providing reconciliation of bank and credit card accounts versus your internal data, reviews of QBO files, coding of Receipt Bank transactions, video financial reviews, tax planning, and help with advanced business methods that result in reduced expenses and increased profits. It is the application of one of these business methods that makes us Profit First Accountants. And, that starts with the Profit First method.
You started your own business to be your own boss and to make more money than when you worked for someone else. Unfortunately, many small businesses struggle to make a profit. This is generally not because of a lack of trying. You have the right skills and work hard but profit always seems to be elusive. That is where Profit First comes into the picture. When we help you start using Profit First in your business, you will make profit a habit and not something that seems to be left up to chance.
The way that Profit First works is by modifying the generally accepted formula for accounting. This age-old formula says that revenue minus expense equals profit or loss. When you use the Profit First system you will say that revenue minus profit equals expense. In short, you will budget to have a profit with each pay cycle. If this would result in a short term shortfall in cash, you will learn to budget and handle your cash flow more efficiently so that you do not run short of cash.
Then, you will attack the reasons why you had not been realizing a profit from the very beginning. As Profit First accountants, we will help you upgrade your bookkeeping and accounting by improving it in house or outsourcing to us. Using efficient tools like QuickBooks custom reports you will be able to spot previously-hidden expenses that were robbing you of profits and business opportunities that you had previously not recognized.
Profit First starts by establishing a steady profit as well owner’s pay, each of which goes to separate bank accounts. It then moves on to handle cash flow and budgeting so that your finances don’t get squeezed. And, over the long term, it improves the efficiency and profitability of your business so that profit becomes a habit.
As Profit First accountants we are part of an elite group of professionals whose passion is the profitability of your business. We are certified Master Profit First Professionals who not only handle your tax returns, standard bookkeeping, and jobs like payroll, but give you a way to assure and maximize profits as you drive your business to greater levels of success.
Profit First accountants provide you with all of the skills of professional CPAs so that you essentially have CFO (chief financial officer) services without the expense of hiring your own CFO. Because you have the benefit of accounting professionals who work with many clients across the country and the world you benefit from a wealth of experience and expertise that you would not see with your in-house bookkeeping or accounting. Because we are certified in and have worked in the Profit First system for years, we can apply that wealth of expertise to maximizing profits in your business. The key to success in using Profit First is in following the steps and having an expert at your side to guide you on your path to guaranteed and higher profits. This system has worked for countless businesses over the years, businesses that learned the proper techniques and followed them. Sometimes there are things that seem confusing at first but become clear with time. Working with seasoned Profit First accountants will get you on the path to habitual profits and a more successful business over the long term.
For more information about how the Profit First accountants at Exigo Business Solutions can help your business, contact us for a free consultation.