The Entrepreneur's Path: Setting Up Financial Planning and Accounting
- SuitsStartUp
- Mar 6
- 1 min read
Updated: Jun 3
Day 5 with today's topic:
Setting up financial planning and accounting
Accounts and accounting system : Set up a separate business account and install an accounting system (e.g. DATEV or Lexware). You can either do the accounting yourself or hire a tax advisor.
Budgeting and cash flow management : Make sure you keep track of your income and expenses. Create a monthly budget to ensure liquidity.
Pay attention to taxes and duties : Find out about the taxes due, such as income tax, corporate tax and sales tax, as well as social security contributions if you employ staff.
Comments