Do I need business bank account for my practice?
Sep 03, 2022Make sure you have a business bank account for your practice…. I explain why you need this and how to go about it.
Why Your Business Bank Account Needs To Be Separate From Your Personal Bank Account
- Your business is not you
- Your business is a separate entity from you as a person
- Your business assets are separate from your personal assets
- Depending on your business structure it maybe a legal requirement
- Keeps things clear for accounting and tax
- Can take card payments from clients
- It is professional
How To Set Up A Business Bank Account
Start with the bank you do your personal banking with
- Do they offer business banking?
- Is there a free initial period?
- Do the terms work for you?
- How long will it take to set up?
- Ask friends for recommendations
Make sure you have a business bank account…. i explain why you need this and how to go about it.