Money transactions

Separate accounts are the best way to avoid getting personal funds mixed with the company’s funds. Book an appointment at your bank to open a business account – and remember to also ask what other services they offer to entrepreneurs.

Think about how you are going to handle invoicing, aka what payment methods should be available to your customers. If you are going to need a payment terminal, sort it out in advance and design invoice and receipt templates for your business. You should also think about what payment terms you will set for your customers, when to send payment reminders and how you are going to handle debt collection if it becomes necessary.