If you are running a small business one of the items you should have, if you don’t already, is a separate business account for your banking needs. Some small businesses neglect to do this but let’s cite some valid tips for you as to why it is a good idea and how it will keep your business safe.
Having a business checking account will keep your funds separate from your personal income. I know that many people question this as their business may be a work at home business, but is it much easier to track income and expenses from one account for your business than to try and sift through a personal account and legitimize your money and expenses for tax purposes.
Having business checks from your business account is actually a safe way to write checks. Many small businesses have an LLC or incorporate themselves, which protects your business. Your personal information is not on your business check, only your business information so when writing checks, it is your business being represented, not you.
Business Checks also legitimize your business too. Someone can say they are a professional in business, but seeing separate accounts and an actual business checks makes a difference in the eyes of many. Get a business check that represents you and your business. Adding logos is a great way of personalizing your check and branding too.
Write yourself a business check to pay yourself. That is a fabulous way to keep your business truly separate from your personal business. It gives you a paper trail of income and makes you feel like a real business owner!
All of these tips for your small business will help you and your business run a smoother, more effective business, all by just setting up a separate business account and using business checks.Now that is a great tip!