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Ali_Cat_37_75(Initiate)Initiate
20 May 2024

I am setting up a business and am working on several related sources of income. Some will have different business names for branding and others will just be done under my name. How do I track all of this?


I want to have just one bank account and keep a record of which income and expenditure are for each but what about the expenses that go across multiple areas of the business like internet hosting etc.


Do I need separate accounting systems and bank accounts for all three businesses or just group them together?

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VoussiorTealady(Enthusiast)Enthusiast
21 May 2024

Unless you are an accounting GOD, you should have a bank account for each business which will make accounting easier anyway when you track incoming and outgoing.


Your accountant can import each bank account into accounting software.


It will depend on the type of businesses you have. An accountant can define the businesses and whether you can run them together as business expenses can impact your accounting.

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Most helpful reply

VoussiorTealady(Enthusiast)Enthusiast
21 May 2024

Unless you are an accounting GOD, you should have a bank account for each business which will make accounting easier anyway when you track incoming and outgoing.


Your accountant can import each bank account into accounting software.


It will depend on the type of businesses you have. An accountant can define the businesses and whether you can run them together as business expenses can impact your accounting.

Dont mix concreting with Onlyfans revenue

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