As the owner of a new small business, you will likely be responsible for everything from managing the day-to-day operations of your company to preparing the bookkeeping. When preparing your own bookkeeping, it is easy to get your personal and business finances muddled.
Setting up a separate bank account will help avoid a lot of confusion. Having a separate bank account and bank card will save you time and energy as you won’t have to sift through all your expenses to remove any personal purchases. Being able to easily identify which invoices/receipts are business-related will speed up the bookkeeping process which will leave you more time to focus on your business!