Vanessa Fiducia · Profit First Professionals Australia

Vanessa Fiducia

Certified Profit First Professional

Company: Profit First Accounting

Role: Profit First Business Advisor / Accountant

Location: Carrum Downs, VIC

Contact: admin@profit1st.com.au

BIO

I am the CEO and Director of Profit First Accounting. We are a family run business based on the beautiful Mornington Peninsula, Victoria. Within our team we have a combined 45 years experience in bookkeeping and tax but have become “Business Advisors of Choice” using the PROFIT FIRST & FIX THIS NEXT methodology introduced by Mike Michalowicz. We want to utilise our certifications in these methodologies to help you simplify your business life and maximise your profits. It’s really that simple.

Imagine tax time rolling around.

Imagine you’re organised, you have everything in order.

Imagine being stress-free at tax time.

Imagine someone counting the numbers with you.

Sounds like a fantasy right?​ It doesn’t have to be, that could be you.

We take great pleasure in helping our clients achieve these goals and live a life where their business serves them. ​​

We have implemented Profit First in Manufacturing, Trades and Construction, IT, Retail and Professional Services and we know it will work for your business too.

Our firm is a little different from other “Compliance Accounting” firms. Our key difference from other firms is that we don’t take on “compliance” work for any clients not wanting to work the Profit First Methodology.

Our objective is to jump into your business with you on a regular cycle to assist you to steer your business to clarity and profitability. We want to give you the wisdom of having an accountant at your side for decision making without you having to pay the costs involved to hire one in house. In addition, our specialisation is in the Profit First Methodology so we are one of only 22 firms currently certified in Australia.

Our preferred process is to undertake a Zoom meeting during which we ask lots of questions about your business and the level of help and direction you want then create a letter of engagement with the options for you to select the assistance you need to meet any budget constraints. We prepare an annual budget for PF and associated compliance then bill in manageable weekly amounts.

This will provide all of the different levels of service from;

  • Profit First implementation –
  • Look at your historical figures and set out a Profit First Roll Out plan to move you from your current % position to your newly identified target % position.
  • Checking your existing data file for errors or to convert to a Xero file (we are a Xero only firm)
  • Making alterations to the Chart of Accounts to align it with the Profit First Methodology
  • Set up your Profit First 7 bank accounts and include these in your chart of accounts
  • Undertake your weekly bookkeeping and PF allocations or train your nominated person in how to do the allocations on your weekly fortnightly or monthly cycle
  • Carry out your compliance work for BAS and Tax
  • Provide Profit First Methodology guidance as you work through the system and
  • Hold your hand as you navigate the rocky waves moving from the way you do your business now to the way the profit first system teaches you to do them.

Many say that their industry would not support the profit first approach and I would love the chance to explore this. It works for so many types of business that I believe we can help it work for you. We cant wait to get to know you and your business needs better.