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  • Sharon Climo

Spring clean your bank account

One of the golden rules of running a business is to use separate bank accounts for your business and personal use.

If you use just one account for both personal and business transactions it's much harder and more time consuming to reconcile your accounts.

Spring clean your business account and transfer money to your personal account for personal use. You really shouldn't be using your business account for Netflix, gym memberships, movie tickets and dining out.

It is also a good time to revisit those monthly direct debits. Are you paying subscription fees for services you no longer use? If you signed up for a trial six months ago and still haven't gotten around to using the software, now is a good time to cancel.

Spring cleaning you business account will also help you to see how your business is really performing.

Print out a Profit & Loss Report with comparisons so you can see how this month compares with previous months.

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