A specific setup order, bank account, bookkeeping categories, separation rules, so new owners stop mixing personal and business finances from day one.
Backed by a 30-day money-back guarantee. If it is not useful, we will refund it, no questions asked.
Mixing personal and business finances from day one causes tax and liability headaches later, but most new owners don't know the order to set things up in. This checklist starts with opening a dedicated business bank account before your first transaction, using your EIN and formation documents, never your personal account.
From there it covers setting up a simple chart of accounts, income, cost of goods, operating expenses, and owner draws, before transactions pile up, deciding exactly how and when you'll pay yourself, and picking a weekly or monthly reconciliation cadence from month one, before any backlog becomes overwhelming.
We've seen founders wait months to separate business and personal money because it felt like a "later" task, and then spend a weekend untangling a year of mixed transactions at tax time. Doing it in this order, before the first transaction, is what avoids that entirely.
— DaveWays
Four concrete steps in sequence, bank account, bookkeeping categories, separation rules, reconciliation cadence.
Categories and rules are established from day one, so there's no backlog of mixed transactions to untangle later.
Pick a weekly or monthly cadence immediately instead of letting bookkeeping become a once-a-year scramble.
Do I need an LLC before opening a business bank account?
Typically yes, along with an EIN; check your bank's specific requirements, which this checklist points you toward.
Does this include actual bookkeeping software setup?
No, it's a setup checklist and category structure; pair it with whatever bookkeeping software or spreadsheet you prefer.
What if I've already been mixing finances for a while?
Start with the bank account and category steps now; untangling past transactions is a separate task this checklist doesn't cover.
Business Setup Quick-Checklist (Lite), yours free with this purchase (a $5 value): a condensed one-page version covering just the bank account opening step to get started today.
Business Bank Account & Bookkeeping Setup Checklist is $14.99 USD, one-time payment, instant delivery, no subscription. Covered by our 30-day money-back guarantee. See our refund policy and terms.
