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Old 04-23-2008, 11:23 AM   #1 (permalink)
DD2
 
Status: n00b
Join Date: Apr 2008
Posts: 22
DD2 will become famous soon enough
Question How to keep track of a sole proprietorship?

I've recently started a business (sole proprietorship) and have set up a separate bank account for tracking the income and expenses of the business. I'm using my personal car in the business, and I estimate that 65% to 75% of my driving will be business-related. As I try to keep records straight, should I pay for all of my gas/fuel purchases out of the business account rather than my personal account? I do realize that as a sole proprietor all the money rec'd in the business is my personal money, but would it be better to pay for things such as fuel from the business account?

Thanks for any advice!
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