Organize Your Finances

Opening a business bank account helps you separate business and personal expenses, allowing you to better track your cash flow, understand the fundamentals of your business, and stay organized when tax season rolls around.

Implementing a bookkeeping and accounting system helps you retain sound financial records for your business, provides quick access to transactions, reduces costly errors, and ensures you stay in good standing with the IRS.

Staying within the parameters of what you can and cannot spend is key to keeping your business up and running. Follow the next steps to build a solid annual budget.

How much of your business’ money should you earn, especially when you’re just starting out? Figure out when, how, and how much to pay yourself following these steps.