Don’t Get Messy with your Accounting System
When you’re at the verge of starting up a new business, you should immediately set up a separate account for your business. By so doing, you’re protecting yourself and your business. A separate business account will provide asset protection as well as corporate veil protection, if you’re paying your business expenses from your personal account or your personal expenses from your business account, this is wrong and messes accounting up big time. Keeping these two accounts separate will protect you from any run-ins with the taxation agency.