Business boundaries
Do you keep business finances separate from personal?
Separating finances is one of the most important bookkeeping habits you can build.
Yes—you should.
Separating business and personal finances is one of the most important bookkeeping habits you can develop.
Benefits of separation
- Clearer financial records
- Easier tax preparation
- Better insight into true business performance
- Reduced risk of mistakes
How vendors usually separate finances
- Dedicated business bank account
- Business-only debit or credit card
- Owner draws instead of mixed spending
Even very small businesses benefit from this separation.
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