Tag: Commingling funds
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Stop Wasting Time on Your Books! Business Bank Account
Each day you use a personal bank account for your business, you create more work for yourself. In this starting a business series, we talked about different types of business structures here, here, and here. Now we’ll talk about the easiest thing to get right that many don’t: opening a business bank account and only… Read more
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Co-Mingling Funds: the FASTEST Way to Wreck Your Bookkeeping
I heard a story about co-mingling funds from a fellow bookkeeper this morning, just before I wrote this. A prospective client added 18 bank accounts to his accounting software account. These accounts included his business bank accounts for multiple businesses, his personal bank accounts, his personal investment accounts. We don’t have a name for him,… Read more