How to Separate Business and Personal Money
Mixing business and personal money is one of the most common reasons small business owners lose clarity.
Use separate accounts where possible
A separate till, M-PESA account or bank account makes tracking easier.
Record owner withdrawals
If the owner takes money from the business, record it clearly.
Do not hide personal spending as business expenses
This makes profit reports inaccurate.
Review withdrawals monthly
Owner drawings affect cash flow and should be understood.
Separating money gives a more honest view of business performance.
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