Setting up your business financials is the foundation of your business. In this first video, I talk with my accountant Michelle Maynard from Carbon Accounting, about what you need to do, understand and be aware of for setting up a good, strong financial structure for your business.
In this video we cover the below topics:
- The importance of seeking the right advice for your business finances.
- Setting up as a sole trader, versus a Trust or a Company.
- Protecting your personal assets.
- Why having a separate business bank account is a must.
- When you need to use a bookkeeping system.
- Revenue VS Profit
Watch more in our video below and keep watching in part 2 of this topic where we discuss how to price your products and services.
We have more videos coming in this series –
- Video 2 – How do you price your products and services
- Video 3 – Putting money aside for tax, super, and growth
Feel free to reach out to Michelle @michellemaynardcarbon for any financial advice.
Thanks for watching!