GSMAccountants.co.uk

Kelliemeredith10 Nov, 2023Business

This is not just important for tax purposes, but also to be sure you really understand how your business is performing. One of the biggest mistakes small business owners make is mixing personal and business finances, a fact that accountants all over the world (e.g., GSMAccountants.co.uk) fully appreciate from their routine work serving small company clients. Open a separate business bank account and use it exclusively for your business transactions ? this separation is crucial for tracking business expenses and simplifying tax reporting.