Does your company have its own business bank account?
Does your company have its own business bank account?
If not, we’ve got 5 reasons why you need a separate account for your business profits.
If you’re running a limited company, it’s a legal requirement to open a business bank account but If you’re self-employed and trading as a sole trader, you’re not legally required to have a separate account.
Regardless of this, it’s still a good idea to keep your personal and business cash in separate accounts.
Here are the main benefits:
💰 Your business cash and personal cash are kept separate
💰 All your business expenses are made from one account
💰 You can monitor all your cash inflows
💰 It’s easier to audit your bank statements
💰 It looks more professional
If you’re not set up with a business account yet, come and have a chat with us. We can explain the benefits in more detail and help you choose the best account for your business.
