Why you should keep business and personal purchases separate?
The New Entrepreneur's Guide Series - Why You Shouldn't Mix Business and Personal Purchases? Keeping company and personal finances separate is one of the most fundamental aspects of accounting. However, everyday situations can arise where a business purchase is paid for with a personal bank card or a personal purchase with a business card. In a rush, using the wrong card is a human error, and a single transaction usually doesn't cause problems. If company and [...]
Entrepreneur's salary and income from the business
A New Entrepreneur's Guide Series - Entrepreneur's Salary and Income from the Business Money accumulated in a company's account does not automatically mean that the entire sum is available for the entrepreneur to use personally. How an entrepreneur can earn income from their business activities depends primarily on their company structure. From an accounting perspective, it is important that the company's and the entrepreneur's assets are handled correctly. In different company structures, the entrepreneur's income is accounted for in different ways. Sole trader's private withdrawals in accounting A sole trader does not pay [...]
Electronic financial management or traditional accounting?
New Entrepreneur's Guide Julia 12 March, 2026 Electronic financial management or traditional accounting Financial management is one of the main pillars of business. When accounting works, entrepreneurs can focus on sales, customer work and growth. When it's not, time is spent looking for receipts, sorting out confusion and stressing out. At some point, many entrepreneurs wonder whether it's worth it to move to electronic financial management or stick with the traditional model. [...]