Profit First Formula
The GAAP (Generally Accepted Accounting Principles) formula for determining a business's profit is "Sales - Expenses = Profit". It is simple, logical and clear. Unfortunately, it's a lie. The formula, while logically accurate, does not account for human behavior. In the GAAP formula profit is a left over, a final consideration, something that is hopefully a nice surprise at the end of the year. Alas, the profit is rarely there and the business continues on its cheque to cheque survival.
With our method you flip the formula to "Sales - Profit = Expenses". Logically the math is the same, but from the standpoint of the entrepreneur's behavior it is radically different. With this method you take a predetermined percentage of profit from every sale first, and only the remainder is available for expenses. This means more money in your pocket from the moment you change to our method.
Bonstar Accounting Services Can Assist With Putting More Money In Your Pocket...
It's your business. Your profit should come first!
We are a firm using the PROFIT FIRST cashflow methodology. We work with businesses to evaulate, organize and navigate systems for financial record keeping and profitability.
Keeping your financial data accurate and up to date is a top priority for all businesses. Having the correct software, integrations and workflows can make that task more efficient and less overwhelming. Most of all, it can drive more profit.
As an Advanced PROFIT FIRST Professional firm, we have direct hands-on experience increasing the profits for multiple businesses and have access to profit specialists throughout the globe and in a variety of industries. What this means is we have the strategies to make your business more profitable than it has ever been before. And we are ready to do it for you starting now.
Call to schedule your Discovery Session and learn how PROFIT FIRST can improve the financial health of your business. This 30-minute session is provided to you at no charge.