Financial Management covers business banking, payments, deposits, refunds, bookkeeping, monthly reviews and spending controls. It gives you clear rules for every dollar that comes in or goes out.
Financial Management comes right after your legal and tax setup, because the bank wants your formation papers and EIN before it opens an account. This area covers opening accounts in the business name, splitting money by purpose and deciding who can spend. It also covers taking payments, handling deposits, refunds and disputes, and keeping clean books you reconcile every month. With these habits in place, you always know whether you are making money, tax time gets easier and mistakes or theft get caught early.
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