Can you use Xero with Profit First?
I often get asked if you can use Xero with Profit First - if both of those go together ok, or if implementing Profit First, means that they have to ditch Xero.
Profit First is a cash management system (which helps you make a lot more profit and take home a lot more money).
Xero is bookkeeping software used to track the in's and out's of your business money. It deals with transactional management.
For good financial management in business, you need both a cash management system and a transactional management system.
Profit First is not used for transaction management, it's used for cash management.
Xero is not used for cash management, it's used for transaction management.
Using one does not hinder the other at all.
They are used for different purposes in the financial management of a financially healthy business.
So does that means you can use Xero with Profit First?
All that means is that YES you can.
In fact, that is absolutely the combo we recommend – one does not hinder the other – in fact – they are both necessary in my opinion for a financially healthy company.