i had a business banck account when i was a plumber, didnt use it like you, use the money to pay bills, u get charged for everything, unless u r big and are ltd, its a waste of time and money
its a waste of time for domestic cheques from house cleans but can be handy for bigger commercial work - many councils - so that includes schools and so on will only write cheques to a business name to help the tax man keep an eye on earnings.
Quote from: Martin ccs on April 28, 2010, 01:41:39 pmits a waste of time for domestic cheques from house cleans but can be handy for bigger commercial work - many councils - so that includes schools and so on will only write cheques to a business name to help the tax man keep an eye on earnings.When i get checks from larger jobs and they make them out to my business name , I just write my name next to it on the pay line, never had a problem yet
Quote from: Blue Monkey on April 28, 2010, 01:37:09 pmi had a business banck account when i was a plumber, didnt use it like you, use the money to pay bills, u get charged for everything, unless u r big and are ltd, its a waste of time and moneyI was a plumber too....window cleaning is sooooo much better aint it!
Quote from: H2ose on April 28, 2010, 01:44:14 pmQuote from: Martin ccs on April 28, 2010, 01:41:39 pmits a waste of time for domestic cheques from house cleans but can be handy for bigger commercial work - many councils - so that includes schools and so on will only write cheques to a business name to help the tax man keep an eye on earnings.When i get checks from larger jobs and they make them out to my business name , I just write my name next to it on the pay line, never had a problem yet does the bank mind that you have put your name on it and not the cheque writer? is that even legal?!?!??!
i belive alinence and leicester bank now santander was free business banking for life benifits are compamy cheque book and account name better for commerical contracts
Alliance and Leicester do free business banking as long as you turnover £1000 per month.You should really keep your business separate from personal. It makes tax returns etc much easier.
Because you dont have to filter thru 12 months of personal and business transactions,Business account is for the business,Personal account is for your personal money,Simples.I transfer money from my business account to my personal account every month.Dean.
Well if you need to hand your accounts over to an accountant or the tax man wants a look it is easier if they do not have to trawl through you personal finances as well.OK?Quote from: Dean Taberner on April 28, 2010, 08:26:22 pmBecause you dont have to filter thru 12 months of personal and business transactions,Business account is for the business,Personal account is for your personal money,Simples.I transfer money from my business account to my personal account every month.Dean.Agreed.
Quote from: Dean Taberner on April 28, 2010, 08:26:22 pmBecause you dont have to filter thru 12 months of personal and business transactions,Business account is for the business,Personal account is for your personal money,Simples.I transfer money from my business account to my personal account every month.Dean.You just set up a seperate personal account, it doesn't have to be a business account. You use this account only for business purposes then. Simpleser.