You can’t deduct personal expenses, like that new TV, as a business expense. In fact, it’s important for you to keep these expenses separate because: Since you have a business bank account, you should also sign-up for a business credit card, there’s no reason for you to keep blurring the lines between your business finances and personal money. Keep Business and Personal Expenses Separate
#Accounting debit credit cheat sheet registration#
This includes 150 free transactions per statement cycle, $0.50 per transaction, a free card reader, mobile banking, $200 payroll credit, and prefered interest rates on equipment financing.Īpplying for a business bank account is quick and easy, as long as we have the proper documentation personal identification, business name registration papers, and business license. Bank has a 3 different business packages, such as the Silver Business Package.
Square 1 Bank offers customized solutions for your business, as well as collections, fraud protections, and international banking.Chase has over 5,300 branches and 15,500 ATMs nationwide, mobile banking, free business debit cards, and the ability to process payments.Square Capital, which is a part of the Square payment processor, provides affordable small business loans.Silicon Valley Bank offers cash management and investment solutions, online and mobile banking, and advice and resources for startups.Different Types of Credit and FundingĪfter you’ve settled on a name and registered your business, you have to open a commercial bank account with an institution that is business friendly and can help you grow, such as: Regardless if you do your own bookkeeping or hire a pro, here are the most common bookkeeping accounts that you should at least become familiar with so that you don’t encounter any cash flow problems:.
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