Setting up your finances checklist

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

Calculate the start-up costs of your business

Work out how much money you need to get your business up and running.

Set up your business bank account

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

Choose between cash and accrual accounting

Understand the different accounting methods and the advantages and disadvantages of each.

Choose payment methods

Find out about choosing how your customers will pay you.

Create a budget

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

Get help with your finances

Find experts and services to help you manage your business finances or get you out of financial trouble.

Record keeping

Learn which business records to keep, how to keep them and for how long.

Set up a balance sheet

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

Key financial terms

Understand the different financial terms used in business.

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