Be sure to check all your banking, billing, and accounting statements as soon as you receive them. Fraud (especially check fraud) is all too common these days, and even if you're protected from that, errors can still affect your bottom line. The closer an eye you keep on everything, the better.
If you create your own financial accounting system for keeping track of your money, don't make it too complex; the simpler the better. This will benefit not only you but also anyone you bring in to help, and it'll be easier for someone else to understand if something should happen to you.
If you can afford a computerized accounting system for your business, it's a good idea to get one; however, you can also make do with a basic spreadsheet program to help you keep track of costs and income. Whatever you do, keep it in order and make it easy enough for anyone to follow.
