Talking Cents

How to effectively split your business and personal finances, by your small business accountant Melbourne

While there are lot of things in life that mix well, one that truly doesn’t and should never mix, are your business and personal finances. Our small business accountant in Melbourne will tell you how to effectively split these two finances.

Here is what our accountants for small business recommend you do:

• Firstly, you’ll want to register your business and put it on the map
• Invest in a business credit card
• While also opening up a business checking account
• One of the key things to keep these separate is to ensure that you pay yourself a salary, our business accountants in Melbourne have realised that this is one of the biggest things that business owners tend to miss out on
• Separate both receipts and be sure to keep them
• Keep track of what personal items are used for business and work

We know that at first it will not be easy to keep your accounts separate, but with consistency and determination it will get easier with time.

Feel free to contact our small business accountants in Melbourne with any enquires that you may have.