Keep business and personal finances separate.
Open a separate bank account for your business and ensure all business receipts and payments are transacted through this account . Do not pay personal bills from this account. If you require funds for personal use, do this in the form of a drawing or loan (depending on company structure) and ensure the amount is an easily identifiable round dollar figure (eg. $5,000). Adopt a similiar process for personal deposits into the business account. Most important of all - document and write down what you have done.

Keep records in order
By simply keeping records together and filed and in an orderly manner, very large savings can be made. All bills waiting to be paid or entered into the accounting system need to be kept together. Although trademan are quite often the brunt of jokes regarding using shoe boxes to keep their records in, this is in fact a very good method of holding records until they are processed in the accounting system. Once invoices are processes and paid through the accounting system, they need to be then filed in a manner that they can be easily located in the future, not just next week but in 5 or 6 years time.

Use competant bookkeepers and accountants
When selecting bookkeepers and accountants to work with your business, your primary selection criteria should be that of competancy to perform the task. Only when you have narrowed the list down to those who are competant do perform the task, do you then look at other criteria. Other criteria may include suitability to your organisation and value for money. A $20 an hour bookkeeper may sound great to begin with, however twelve months down the track, you could possibly find yourself paying someone who is competant in excess of $100 an hour to correct the errors.