Owners of small businesses often run one financial life across two sets of accounts. The toolkit’s separation worksheet is the first step because everything after it depends on knowing which money is whose.
One account set per entity
The business pays its expenses from business accounts and pays the owner a defined draw or salary. Personal spending never touches the business card. This protects legal separation and makes both sets of numbers readable.
A defined owner payment
A regular, written amount, whether salary, draw, or distribution, decided with your accountant based on your entity type. Irregular transfers make personal budgeting impossible and business cash flow unpredictable.
Record the boundaries
The worksheet lists which accounts, cards, and subscriptions belong to which side. Grey areas, such as a phone or a vehicle, get a documented split you can defend.
Action Step
Complete the separation worksheet, listing every account and recurring charge under personal or business with a note on any shared item.
This lesson is financial education, not financial, investment, or tax advice. The examples are illustrative and are not projections or promises of any result. Your numbers, obligations, and options depend on your company and jurisdiction, so review any model, forecast, or fundraising decision with a qualified accountant, attorney, or advisor before acting on it.