10/01/2026
Bookkeeping Tip
Are your business finances clearly separated and easy to track?
Start with good records and a clear separation between business and personal funds. IRS Publication 583 recommends opening a business checking account and keeping it separate from your personal checking account. The IRS explains that good records help you monitor the business and prepare financial statement and tax returns.
For example, a business account can also make day-to-day operations easier, including accepting customer payments and allowing employees to perform authorized banking tasks without accessing your personal account.