Mixing personal and business finances is one of the most common mistakes Nigerian entrepreneurs make. It makes tax filing harder, hides your true profit, and creates chaos.
Steps to Separate
1. Create separate accounts in Erin for personal and business 2. Log all business income to your business account 3. Log personal expenses separately 4. Use invoicing for all business transactions 5. Review your P&L report monthly
The Benefit
When your finances are separate, you can see your actual business profit, prepare for taxes accurately, and present clean records to investors or banks.