There are so many different things to figure out when you decide to take the leap and open your own business. There are probably a lot of things you don’t even realize you’ll have to do or facilitate. Opening a business is hard, and it’s all too easy for important things to slip through the cracks. Sometimes these mistakes are minor and easily fixed, but sometimes fixing the mistakes can be costly and frustrating. In order to avoid causing extra strain and stress, we can help get you set up with all of the financial matters involved with owning your own business.
When you begin making revenue from your new business, you’ll need somewhere to put the money that you’re making. Putting it in your personal checking account isn’t the best idea. There are a few different reasons for this:
-You’ll want separate accounts for not only saving, but for spending purposes. It will be easier to track your business spending if it’s from a separate account just for your business. This will make everything go more smoothly when it comes time to file your taxes.
-Although a personal checking account is set up the same as a small business checking account, your clients may feel more at ease writing checks and making payments to your business rather than under your name personally.
One of the things you’ll have to consider when opening your small business bank account, is where to open it. Although you may love your bank, it’s important to consider the benefits that different banks have to offer, and what their requirements for opening a business bank account with them are.
All of these things can be incredibly confusing, and you’ll want to make sure it’s done the right way. And you’d hate to set up a bank account and then later find out that the fee structure is different than what you were expecting. By contacting us at Klingler, we’ll be able to assist you and make sure no mistakes are made, so you can focus on the fun parts of running your business.