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The basics of business money management, by your small business accountant in Melbourne

Have you just started a new business? If so you’ve come to the right place for you to learn the basics of business money management. Our small business accountants in Melbourne will run you through the basics to get you kick started.

One of the first things that our business accountant in Melbourne will recommend for you do is open a separate business account, keeping your personal and business finances separate is essential.

Next you’ll want to invest in bookkeeping, since it is a small business you won’t need all the fancy accounting just yet. This will help with managing your businesses finances and helping you with gaging how you can grow.

Then it is ensuring that your business can be diverse with the payment methods available to customers and this includes cash, checks and debit cards. One of the biggest things for you to try and implement is online payment services.

Some of the next steps that our accountants for small businesses in Melbourne want you to do is:

• Establish payment terms
• Securing deposits
• Introduce progress payments
• Debt collection

When running a business you need to take charge and ensure that you are in control of everything!

So feel free to contact our small business accountants in Melbourne with any enquiries that you may have.