Business Accounts – Why You Need One

If you’re an established business or a new startup having a business account is vital. A separate account lets you pay for expenses using funds that aren’t tied to your personal credits. It also lets you establish business credit which could allow you to qualify for loans. In addition, business accounts generally include features that can help you manage your business more efficiently by offering mobile banking and business-specific credit cards.

Simplify Record-Keeping

A dedicated business account offers a clear separation between personal and corporate finances, which makes it easier to track the tax write-offs you earn. It can help you avoid errors in financial reporting and decreases the chance that your account will be audited.

Look Professional

You can show that you are serious about your business by using a corporate account instead of yours. It can also show potential investors, clients and partners that you are reliable and well-organized.

Open a Business Bank Account

Different banks offer various business accounts, based on the kind of account you require dependent on how your business is structured. To open a business account, you’ll need to provide certain documents and information.

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