Step #1: Domain & Email
By getting your email and domain name first, it will allow you to use your correct email address throughout the entire business setup process.
Buy Domain Name
Recommended: Godaddy.com ($10 ~ $20 / yr)
Setup Email
Recommended: Google Workspace ($6 / mth)
Workspace (aka Gmail) also gives you cloud based documents, spreadsheets, calendar, document storage, and more!
Optional Steps
Sign up for a password management service (recommended: LastPass.com - it’s free). This way you can save all your passwords as you go through the business setup process
Get a business phone number...options include Google Voice (free w/ G Suite) or for more options try Number Barn ($6 / mth).
Step #2: Get Business License
Get Your LLC ($200 + $60 / year)
Sign-up for a Secretary of State CCFS Account: ccfs.sos.wa.gov (instructions HERE)
Click “Create or Register a Business” from the left menu (follow instructions HERE)
Get Your EIN Number
Apply Here: sa.www4.irs.gov/modiein/individual/index.jsp
Register with the State of Washington ($35)
Sign-up for a My DOR account: secure.dor.wa.gov/home/
Click “Apply for a new business license” on the home page under “Quick Links”
Record Important Dates on Calendar
Secretary of State (CCFS Account) ~ Annual renewal required
Washington State (My DOR Account) ~ Monthly or Quarterly Exise Tax filings required
Step #3: Open a Checking Account
You will need your EIN # plus your Articles of Formation - both items you should have received during Step #2
Get a Business Checking Account
Recommended: www.bluevine.com (free - online only)
You may want to sign up for an account with a local credit union instead. They have local branches however they usually contain fees.
Get a Credit Card
Recommended: Any card will do...pick the best rewards options. Chase Ink or Capital One Business are the most common for small businesses. If you prefer, you can use the debit card that comes with your business checking account but you won’t get any rewards.
Step #4: Setup Your Accounting System
Sign up for an Accounting System
Recommended Options:
Wave Accounting - Free, but somewhat limited features
Quickbooks Online ($12+ / mth) - Most likely your accountants recommended choice
Create Your Chart of Accounts
This is your list of categories for tracking income and expenses...it’s recommended that you talk to your accountant about this. If you want to do it yourself, then see Appendix A for a sample Chart of Accounts
Link Checking Account & Credit Card(s) to Accounting Software
Both accounting programs above will automatically download transactions from your business checking account and business credit cards directly into the accounting software. Follow the instructions within the individual software to make this happen (again, your accountant can help with this).
Pro Tip! Use a single Credit Card (or debit card) that is dedicated only to your business for all expenses whenever possible. This will allow your accounting software to automatically download all business related expenses.
Appendix A - Chart of Accounts
This is just a sample, and very basic (basic is good though)...if possible, talk to your accountant
Income:
{Your primary source of income}
Other
Expenses:
Accounting & Legal Fees
Auto Expenses
Education
Insurance - Business
Internet, Phone & Utilities
Marketing
Meals & Entertainment
Misc Expenses
Office Expenses
Rent Expense
Software - Subscriptions & Fees
Travel Expenses