Bookkeeping and Accounting Setup
Assess whether your new business has a bookkeeping system, chart of accounts, and process to keep clean records from the start.
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For founders, new owners, and anyone starting out
Business Banking and Payment Controls
Clarify business banking and payment controls as a first-time owner: what decision you are making, what must happen now, what can wait, and the next concrete action.
6 guided steps
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Official guidance links
Start the free checker
Your free guided checker
Answer a few quick questions below. It is private - nothing is submitted or stored - and takes about a minute.
General information only; not legal, tax, insurance, cybersecurity, or investment advice. Confirm formation decisions with qualified advisers in every applicable jurisdiction.
The questions this tool walks you through
Here is what the checker asks and why each step matters. Prefer to talk it through? Contact us and we will help directly.
Will all revenue and expenses flow through business accounts with documented owner contributions, draws, reimbursements, transfer approvals, deposit controls, and monthly reconciliations?
Answer based on what you genuinely know today. A “No” identifies a question or task; it does not mean you made a mistake.
Continue to the next control. Note this item for your final action list, then continue.
Official guidance: SBA open a business bank account
Can you explain how you will pay yourself—owner draw, reimbursement, payroll if later elected—and record each type correctly?
Answer based on what you genuinely know today. A “No” identifies a question or task; it does not mean you made a mistake.
Continue to the next control. Note this item for your final action list, then continue.
Official guidance: SBA open a business bank account
Have you decided who can move money, what alerts and limits apply, and how you will reconcile processor deposits to customer sales?
Answer based on what you genuinely know today. A “No” identifies a question or task; it does not mean you made a mistake.
Continue to the next control. Note this item for your final action list, then continue.
Official guidance: SBA open a business bank account
Have you defined approval limits, alerts, and who can add payees or open new processor accounts?
Answer based on what you genuinely know today. A “No” identifies a question or task; it does not mean you made a mistake.
Continue to the next control. Note this item for your final action list, then continue.
Official guidance: SBA open a business bank account
Will owner contributions, draws, and reimbursements hit distinct bookkeeping categories the same day they clear the bank?
Answer based on what you genuinely know today. A “No” identifies a question or task; it does not mean you made a mistake.
Continue to the next control. Note this item for your final action list, then continue.
Official guidance: SBA open a business bank account
Will all revenue and expenses flow through business accounts with monthly reconciliations of processor deposits to customer sales?
Answer based on what you genuinely know today. A “No” identifies a question or task; it does not mean you made a mistake.
Open the business account with matching legal name and EIN Stop depositing business revenue to personal accounts
Official guidance: SBA open a business bank account
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