This is true.HOWEVER, when the Profit First bank accounts are used as intended, there is a minimal number of transactions – typically fewer than 6 per month – in 3 of the 5 foundational bank accounts. It takes less than a minute per month to reconcile the additional accounts.

If a naysayer doesn’t have any relevant experience with what they’re saying doesn’t work, don’t listen to them!

Profit First Professionals is comprised of over 500,000 members and more than half a million business owners have implemented Profit First with tremendous success!

I agree, business owners should learn to read their financial statements. 

Profit First lets your client run their business without emailing you every time they want to make a large purchase – or worse, calling you in a panic because they overdrew their bank account. Now, instead of explaining their budget to them again, you can use your financial statement review discussions with the client to guide them in long-term strategic decisions for their business. This, in turn, increases your value in the client’s eyes.

This is similar to saying anyone can read a book about bookkeeping and be a good bookkeeper. Or that anyone can read the tax code and prepare a complex tax return. There are nuances to the Profit First methodology that accountants and bookkeepers who attain Profit First Professionals certification leverage to help their clients’ attain ever-higher levels of profitability. This, in turn, positions the financial professional as the go-to advisor for the client…which helps the accountant or bookkeeper attain ever-higher levels of profitability, too.