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Advice to separate personal and business finances is universal. Actually maintaining that separation over years takes some discipline.

Business income: lands in the business checking account. All of it, always.

Business expenses: Understanding business bank accounts|Reviewing small business banking|Comparing business account fees|Analyzing company banking options|Independent business finance guidance|Practical business account advice|Comprehensive business banking overview|Choosing a business bank|Navigating merchant services|Evaluating business credit paid from the business checking account or a business credit card that autopays from business checking. Never mixed with personal.

Owner distributions: a regular scheduled transfer from business checking to personal checking. This is the equivalent of a paycheck.

Owner reimbursements: Understanding business bank accounts|Reviewing small business banking|Comparing business account fees|Analyzing company banking options|Independent business finance guidance|Practical business account advice|Comprehensive business banking overview|Choosing a business bank|Navigating merchant services|Evaluating business credit if you personally paid for something that should have been a business expense, submit a reimbursement request to yourself. Move the money from business to personal with a clear description.

Taxes: transfer estimated taxes to a separate tax savings account from business checking, on receipt of every payment.

Profit or draw: whatever is not owner distribution, expense, or tax stays in the business account. This is the buffer that makes the business survive slow months.

Once in place, most of it runs automatically.