Just curious for those who run partnerships, my parents had personal accounts for their building company and run the business through those.
Do you have a dedicated business account or do you run them from your personal joint account??
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23-02-2012 09:56 #1
Business banking accounts??
26-02-2012 11:58 #2Member
- Join Date
- Dec 2011
I have a business account, I needed to have the bank deposit details on my website and thought it would look unprofessional to give a personal bank accounts details. It is inexpensive and easy to setup, it also makes you feel more responsible about not dipping in and taking money that should stay with in the business. Just my 2c
26-02-2012 14:14 #3
Separate business account which shows up with all my accounts on my Internet banking. Definitely easier to manage with it being separate.
26-02-2012 14:19 #4
I'm a sole trader and have a separate business account ... makes it easier at tax time.
27-02-2012 17:06 #5
We use multiple business accounts, we have a main account which is a simple online account where all moneys get paid to. We then have multiple accounts with cards attached that are given to all tradesmen and office. I use my personal credit card to pay for materials etc over the phone.
Our accounting system can be a bit of a nightmare if it's not maintained daily as we make a LOT of transactions daily but it's definitely better than having it attached to our personal accounts. Using our personal accounts was a nightmare when declaring wages and paying employee's wages.
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