Startup Guides > 4 Easy Financial Accounting Tips for Small Business Startups

So, you have a great business idea, and you're lining up the resources to make it a reality. But if you don't establish solid corporate and accounting strategies from the start, you could be putting your business in peril before you ever get off the ground.

Follow these four steps to get off on the proper financial foot...

1. Be thoughtful before organizing.

Understanding whether to operate as a sole proprietor, partnership, S Corporation, C Corporation or LLC has tax implications, and each offers different levels of liability protection for companies. And if you incorporate, you can't change back to an LLC later, so it's important to know the best structure for your business.

2. Budget and track expenses. ..