It's essential to look on your business finances and know how to manage your cash flow. If you need help regarding this, consider speaking to a financial adviser.

Must consider these points regarding finances:

A Business Bank Account (Current Account)

• For easy tracking of business income and expenses, you may consider opening a separate current account for your business.
• Contact a business banking executive of any bank in India which is nearly accessible from your business place. com can help for any type of assistance in this regard.

Setup an accounting system

• There are a large of number electronic bookkeeping software available that could suit your business needs. filingdigits can will help you to keep your accounting records up to date. Click here to know more about business compliance package.

Payment types and invoicing formats

• When starting your business, you'll need to decide on the payment terms and modes of payment you will accept from your customers. You may also need to set up an invoicing template and receipts that you will give customers when selling goods and services.
• Format a invoice correctly for the goods and services you provide, have a look on invoicing terms as per GST. Make sure to include a clear due date of payment and interest terms for late payment.