An important aspect of the Profit First Methodology is for the business owner on the first day after the end of a quarter,to take a Quarterly Profit Distribution.
Let me explain: By implementing Profit First on the first day of each new quarter (or the first business day after), you, will take a profit distribution. This is done by adding up the total amount of profit in the Profit Account, taking 50% of the money as a profit distribution with the other half remaining in the Profit Account, as a reserve. Read More »