Finance in small businesses – how to keep track of your accounting

Running your own business is a dream for many – but it also means you have to keep track of your finances. Unfortunately, it is often the finances that small business owners shy away from tackling. Here are some simple tips that will make it easier to stay organized without losing motivation:

1. Separate your business and personal finances.
It's easy to get confused, but it can be a nightmare when it comes time to book or file taxes. A separate account for all of your company's transactions is a must.

2. Automate as much as you can.
Accounting systems, invoicing, receipt management – everything can be digitized today. It saves time and reduces the risk of errors.

3. Make a monthly budget and follow through.
Track your income and expenses every month. Small adjustments early on can prevent big problems later.

Taking control of your company's finances doesn't have to be difficult - it's about routines, structure and a little help along the way.