Ep. 55 Mastering Profit First: Understanding Cash Management vs. Accounting Systems with Billie Anne Grigg
- Danielle Mulvey | Billie Anne Grigg
- April 28, 2021
In this episode, Profit First Professional's Chief Profit Guide, Billie Anne Grigg, joins us to guide entrepreneurs and small business owners through the differences between utilizing Profit First as a "Cash Management System" vs. traditional "Accounting Systems" like QuickBooks. We explore how these systems work together, and why it's critical to understand the terminology and differences between them. This episode is a must-listen for those who want to be in the top 17% of their peers by owning their business's financials and having cash in the bank to correlate to profitability. Bonus content includes a deep dive into Income Statements (P&Ls), Balance Sheets, Statements of Cash Flow, and more. Tune in for valuable insights and practical tips on mastering Profit First.