One of the best things I did for my business when I started was set up my Profit First accounts (after reading the Profit First book, of course).
And while it can feel overwhelming at first, it’s incredibly empowering.
I use my local credit union to set up my different PF business accounts (Expenses, Payroll, Taxes, and Profit). Then I set up my Novo Bank account as my income account.
With Novo, I can set up automations that pull the percentages for each of my PF accounts immediately from all of my income! Then once or twice each month, I simply transfer the auto-calculated amounts from Novo into my different PF accounts.
Simple, effective, and incredibly helpful. I get a birds’ eye view of the financial health of my business and can quickly evaluate how I’m doing with expenses, payroll, taxes, and look forward to that quarterly profit distribution!
Click here to open a Novo account and get $40! (I’ll also get $40 too, so thank you for your support!) ☺️