Set up your finances

Follow these steps to set up your business finances. Check off your tasks as you go.

Understand how to calculate your start-up expenses to help you determine how much money you need to start your business.

Learn when you need a separate account and why it's a good idea.

Understand cash and accrual accounting, and the pros and cons of each.

Find out about choosing how your customers will pay you.

Find out how to create a budget so you can track your business's financial health.

Find information and advice to help with your finances.

Learn what records to keep, how to keep them and how long for.

Get a picture of your business's current financial health.

Understand the different financial terms used in business.