“Where’s My Profit?!” - Why Your Bank Balance Doesn’t Match Your P&L

In this episode of Money First, CEO, Harman Johnston delves into the common issue business owners face when their profit and loss statements don't align with their bank account balances. Harman explains the crucial distinctions between profit and cash flow, and outlines five key reasons for these discrepancies, including timing differences, large purchases, loan repayments, taxes, and how owners pay themselves. She provides actionable steps like reviewing accounts receivable, planning for big expenses, creating a tax account, and using cashflow trackers to help business owners better manage their finances. The episode emphasises the importance of putting money first to gain clarity, confidence, and financial control. 00:00 Introduction to Money First, CEO01:00 Understanding Profit vs. Cash02:17 Reasons for Profit and Cash Discrepancies04:30 Managing Cash Effectively05:16 Final Thoughts and Action Steps 🎧 Thanks for listening to the Money First CEO Podcast!If this episode helped you move the needle, make sure to subscribe, leave a review, and share it with someone who needs to hear it.Link to expense review🔗 Where to Find Harman:Website: www.blubookkeepers.com.auInstagram: @blubookkeepers    Facebook: @blubookkeepersauTikTok: @profitwithharmanLinkedIn: Harman Johnston📞 Ready to Take Control of Your Business Finances?Book a Free Discovery Call here📩 Have a Question or Want to Be a Guest?Email me directly at: [email protected]