Tag: dailyprompt-2758

OPEN 4 DIFFERENT ACCOUNTS FOR YOUR BUSINNESS!

Together, they completely change how you manage your money! 

0. INCOME 
   1. Every dollar your business earns goes here first! 
   2. Think of this as your holding account!

1. OPERATING EXPENSES 
   1. Transfer only what you need for expenses on a regular basis.
   2. Pay all your business bills from here. 
   3. This gives you a clear picture of what your business actually costs to run.

1. Owner pay and payroll
   1. Set a fixed amount 
   2. Pay it on a consistent schedule

1. Taxes and Savings
   1. Set aside 35% – 40% of your nest income here.

Keep track of every aspect of the business would be much easier with this set up!