A customer pays ₦200,000 into your account, and it can be tempting to see the entire amount as your personal money.

But the business may still have expenses.

You may need to pay suppliers, transport costs, staff, rent, electricity, delivery fees or other operating expenses.

If you spend the money before accounting for these costs, you may later discover that the business does not have enough money to operate.

A separate business account can make tracking easier.

Record money coming in and money going out.

At the end of a period, calculate what is actually left after business expenses.

Only then can you make a more informed decision about how much you can take for personal use.

This is especially important as a business grows.

A business that has plenty of transactions but poor financial records can still struggle.

Lesson: Business revenue is not the same thing as personal income. Know your business numbers before spending the money.