We're absolutely thrilled, delighted and honoured to announce that Northwest Accountancy is recognised as the Profit First Accounting Firm of the Year 2025!

These sorts of awards are such a surprise and so gratifying. We would never be where we are without YOU, our customers and biggest supporters. This award shows that not only do we say that we're committed to helping our people, but we actually DO help our people in tangible (and lucrative) ways. We love to help business owners take control of their money and grow in directions that suit THEM and their families, build profit into their pricing and systems, and feel genuinely confident in their financial decisions.

As a regional firm with deep roots in the Pilbara and clients across Australia, here at Northwest Accountancy we believe financial clarity isn't complicated. It doesn't need jargon, it should be practical, actionable, and designed to work even all small businesses. And this is why Profit First is not only one of the best frameworks to work with, but why we won this award. 

What is Profit First – and Why Does it Work?

Jodi Porteous (who won her OWN award as Profit First Professional of The Year 2025 too!) started working with Profit First only six years ago. Using the principles, she applied them to her own life and business, and turned everything around. From being a stressed and exhausted CEO with no time for rest or family, the principles helped redefine what Northwest Accountancy should look like, how it should function, and above all, how it should support its owners.

Profit First is a cash‑flow management system that flips traditional accounting on its head. Instead of hoping for profit at the end of the year, businesses take profit first, and then allocate the remaining income to expenses, owner pay, GST, tax, and operational needs.

It works because it:

• creates instant clarity around money

• gives business owners control instead of stress

• builds real, sustainable profit (not just “profit on paper”)

• helps prevent overspending and cash‑flow blowouts

• removes guesswork from decision‑making

Profit First isn’t about working harder or earning more. It’s about using your money intentionally so your business becomes stable, resilient, and genuinely profitable.

5 Tips We Give Our Clients (That Helped Us Win This Award)

After implementing Profit First with hundreds of clients, we’ve learned what truly makes a difference. These are the five key strategies we share with clients. These are ideas and structures that are adaptable for every one's business, and there's a wealth of hints, tips, and mindset articles in our blog. We invite you to grab a coffee and have a read! 

1. Separate Your Money Into Purpose‑Based Accounts

Put your money to work! When every dollar has a job, you always know exactly what is safe to spend. Separating your business income into accounts for profit, tax, GST, owner pay, and expenses stops accidental overspending and builds healthy financial habits. It means that you're prepared for expected expenses, but also building a buffer for unexpected expenses. And you can see everything at a glance, without needing a special report from your accounting software. 

Learn more: https://www.northwestaccountancy.com.au/blog/what-should-profit-first-business-bank-accounts-look-like

2. Pay Yourself Properly

Heard the one about filling your own tea cup before filling other's cups? Same with cash. As the owner, if you're out of control, stressed, miserable and shouting, that's going to be what's going into every one else's tea cup.

So make sure you're looking after you first, with a reliable income, and enough money for everything you need and want. You'll be calmer, less stressed, and more able to think beyond 'crisis' and into the future.

Profit First teaches you to prioritise stable owner pay so your household stays secure. Plus when you're deep in the game, you can start to build a buffer for your own income, so that you always get paid through holidays, vacations, and personal leave (another weakness of Aussie business owners is not paying themselves when they're not 'working!').

Check this out: https://www.northwestaccountancy.com.au/blog/busy-business-owners

3. Use Percentage Allocations to Keep Spending in Check

When we start working with a client that's new to Profit First, we take the time to get to know them, their business, and the industry they're in. Profit First isn’t random transfers, it’s a structured system based on percentages that suit your business size, industry, and goals. We sit down together and use a tool called Profit First Prophet to work out what percentages will work for you.

Everyone's business is unique, and will have different requirements of their cashflow. These percentages guide your spending so you always operate within healthy limits, and are based of decisions made during calm, logical moments, and not on the spur of the moment. 

Related blog post: https://www.northwestaccountancy.com.au/blog/how-to-avoid-tax-time-shock

4. Schedule Regular Money Rhythms

I love a good routine. How about you? Hate them or love them, consistency beats intensity every time. After all, ten minutes a week over a year sounds much easier than a week of panicked paper chasing. I know which one sounds better to me!

Weekly or fortnightly allocation days keep your accounts balanced, your cash flow predictable, and your stress levels low. And once your brain has the regular rhythm of your money documented and understood, you'll start to gain more insights into how your business functions, and what the financial reports actually mean. And this all leads to better planning and leveraging the resources you have. 

Learn more: https://www.northwestaccountancy.com.au/blog/5-tips-for-easy-bookkeeping

5. Review Your Numbers Quarterly (Not Just at Tax Time)

This activity also comes with a reward! Quarterly check‑ins help you catch issues early, adjust your percentages, and make confident decisions about hiring, equipment, or growth. Profit First insists that there's a little bit put aside for profit - and as you do your quarterly review, you get to use that money! 

You can use it to pay for dinner while doing the review, a gift to yourself or your staff, or as a buffer for future growth – but it has potential that's not like the other categories. 

Businesses that stay on top of their finances thrive, and those that don’t often feel blindsided. So Quarterly Reviews are a great way to look back, prepare for the next Quarter, and have a little space to consider the future!

We've talked about this before too! https://www.northwestaccountancy.com.au/blog/do-you-know-where-your-money-goes

Being recognised as the 2025 Profit First Accounting Firm of the Year is an incredible honour, but the real reward is the transformation we see in our clients.

I see this award as being for our willingness and ability to LISTEN to our clients, and then support them through the difficulties of changing ingrained habits and systems. Change is hard, and we recognise that and acknowledge that life will get messier before it gets better when doing something like this. 

We have a host of great training and support programs, so whether you want to upskill your Bookkeeper with our Unexpected Bookkeeper program, get your household spending organised with Where Did My Money Go, or work with us as an all services inclusive business through Profit First Accounting, we've listened to what you're saying, and created these resources in response. 

Jodi Porteous and the team are internationally recognised for the work they already love, and they're here to help. 

Book a chat today and let's see how we can help you today.

https://www.northwestaccountancy.com.au/contact