Posted by u/commingling_shame
I keep mixing business and personal money. How do I stop?
Answered by Ask a Shop Owner ·
I know I should not. I do it anyway. Truck gas, phone bill, once a business dinner ended up on personal card. Help.
u/askashopowner Owner-operator advisor
Top answer
Two accounts, one card each. Business checking with business debit. Personal checking with personal debit. Whenever you swipe, ask is this for the business. If yes, use business. If no, use personal. That is the whole system.
For gray areas (phone, home office, truck), pay from business and let your bookkeeper allocate at year-end. Do not pay from personal because it is easier. That is where the mess starts.
Once a month, pay yourself a distribution from business to personal. Never pay personal bills directly from business (except payroll). Once you have 60 days of clean separation, the habit is set.
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