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.
Most banks require anyone opening a business account and ordering business checks to first obtain and file a DBA, or "Doing Business As" form with their county. The bank requires this if you are operating your business under a business name other than your first and last name. Charges vary from county to county and state to state.
As with any bank account, you need a minimum deposit to open your business checking account. This will be higher than what you need to open some other kind of account, and there will be fees and charges levied, which will depend on the bank. So, you need to inquire at a few banks as to the charges and compare them with the services that you can expect. Some of these fees and charges are tax-deductible, though.
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.
Record all business checks as you write them to prevent overdrawing your business account. A good beginning will allow you to develop a good relationship with your bank. This relationship will grow as your business grows. - 2364
Most banks require anyone opening a business account and ordering business checks to first obtain and file a DBA, or "Doing Business As" form with their county. The bank requires this if you are operating your business under a business name other than your first and last name. Charges vary from county to county and state to state.
As with any bank account, you need a minimum deposit to open your business checking account. This will be higher than what you need to open some other kind of account, and there will be fees and charges levied, which will depend on the bank. So, you need to inquire at a few banks as to the charges and compare them with the services that you can expect. Some of these fees and charges are tax-deductible, though.
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.
Record all business checks as you write them to prevent overdrawing your business account. A good beginning will allow you to develop a good relationship with your bank. This relationship will grow as your business grows. - 2364
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