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Post Info TOPIC: Soletrader Business bank account
Amanda


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Soletrader Business bank account
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If they use their personal account for business and also personal things as well, it then becomes a nightmare to reconcile!!! This is most bookkeepers pet hate!

What they need to do is use one account for everything to do with their business (sole trader) and use a separate bank for all personal stuff like their weekly shop at asda.

I've just had to reconcile an account that had both business and personal on it so I rang the client and told him not to do it and to get a separate account, and he went out and orgainised one the following day. These clients just need educating!!!!!

If they become LTD co then it has to be a business account.



-- Edited by Amanda on Wednesday 25th of January 2012 10:19:10 PM

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Amanda
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Does a Sole Trader business need to have a seperate bank account for he sole trader business / or can they use their personal bank account?



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Thanks, Nadia.
kjmcculloch83


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Have a search, this is asked on a regular basis. In fact it was asked a few days ago.

Kris

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Thanks Amanda

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Thanks, Nadia.
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