Every aspect of running a business is crucial. The finances are one of the most important things to handle when it comes to running a business, so it makes sense to open a business checking account at your bank. When it comes to filing taxes or just staying organized, it makes sense to keep your personal and business accounts separate.
Starting a business checking account with a bank is not difficult. First of all, you have to file a DBA with your county - this is a "Doing Business As" form, which is necessary for the bank to process your business checking account. The name you have registered the business under should be neither your first name nor your last name. Charges for filing this form depends on which county you are in.
The initial amount you need to open your business checking account also differs, depending on which bank you use. It will invariably be more than what you need to open a personal account, of course, but you will benefit if you scout around and check what kind of charges are applicable with different banks. Always keep in touch with your accountant, too - there might be fees that come under the tax-deductible category.
There will be expenses when you operate a business checking account and you will not earn much in terms of interest - so it is important to know how much and when you will be charged for different transactions.
Keeping records is very important with a business checking account. Keep track of each transaction so that you do not get overdrawn. This way, you can have a great relationship with your bank, which will grow over time. - 16890
Starting a business checking account with a bank is not difficult. First of all, you have to file a DBA with your county - this is a "Doing Business As" form, which is necessary for the bank to process your business checking account. The name you have registered the business under should be neither your first name nor your last name. Charges for filing this form depends on which county you are in.
The initial amount you need to open your business checking account also differs, depending on which bank you use. It will invariably be more than what you need to open a personal account, of course, but you will benefit if you scout around and check what kind of charges are applicable with different banks. Always keep in touch with your accountant, too - there might be fees that come under the tax-deductible category.
There will be expenses when you operate a business checking account and you will not earn much in terms of interest - so it is important to know how much and when you will be charged for different transactions.
Keeping records is very important with a business checking account. Keep track of each transaction so that you do not get overdrawn. This way, you can have a great relationship with your bank, which will grow over time. - 16890
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