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You Really Do Need a Separate Bank Account for your Business

MoneyYes, it is true, you really do need a Separate Bank Account for your Business.

I would advise all new business owners to get a Separate Business Bank Account before you sell your very first item or service.

With this Bank Account, you can pay your Business Expenses, by writing a check or using your debit card.  Use your Business Checks or Debit Card to pay for postage, inventory items, office supplies, or monthly reoccurring bills.  This will keep track of your Business Expenses.

Make sure that you use this Business Account to deposit all of your PayPal, Personal Checks, Money Orders, and Cash payments you receive for your items sold or services performed.  This will keep track of your Business Income.

Once you get a $100.00 build up in your business checking account, transfer these funds to your Savings Account so you can earn some interest on your money.  You will find that having a separate Business Bank Account keeps your personal finances separate from the Business.  This will make it easier to keep track of your Business and help you file your Business Taxes at the end of the year.

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