buisness bank accounts

[bundmum]

is it worth getting a buisness bank account? :confused:

[stayday]

It helps to keep things seperated and is easier for auditing purposes. The fees and charges may outway these benefits though.

[Pussyfoot]

If you're a sole trader with a very small business, no.

This doesn't mean I don't recommend keeping separate accounts. In fact, it's a must if you get audited by the ATO and separate accounts make it easier to keep financial records.

It's just easier and cheaper to get a separate private account and operate it as a business account. That way you avoid all the top up fees that banks and credit unions love to whack onto business accounts.