When you have a business to run, it is very important to make sure that finances are properly organized. One very important measure to take is to make sure that personal and business finances are kept separate. This is why a business checking account is always an excellent idea, and opening one is not rocket science - anybody can open one, all it takes is a trip to your bank.
The first step is to get and file a "Doing Business As" form, also called a DBA, with whichever county you are running it from. Rules and charges change depending on which county and which state you are from, but generally, your business must be registered under a name which should not be your first or last name.
The amount required to open a business account is also much higher than the amount to open a personal account. Check with several banks in your area to see what amount they require, what fees they charge and what services they provide. Fees to obtain business checks may be tax-deductible, so keep track and check with your accountant.
The money that you keep in your business checking account will probably not earn any interest. In fact, if your account balance gets too low you may incur extra monthly charges. There are also fees relating to checks paid. Know what fees are being charged and when they are accessed.
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. - 16069
The first step is to get and file a "Doing Business As" form, also called a DBA, with whichever county you are running it from. Rules and charges change depending on which county and which state you are from, but generally, your business must be registered under a name which should not be your first or last name.
The amount required to open a business account is also much higher than the amount to open a personal account. Check with several banks in your area to see what amount they require, what fees they charge and what services they provide. Fees to obtain business checks may be tax-deductible, so keep track and check with your accountant.
The money that you keep in your business checking account will probably not earn any interest. In fact, if your account balance gets too low you may incur extra monthly charges. There are also fees relating to checks paid. Know what fees are being charged and when they are accessed.
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. - 16069
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