Ask Maxi · Bookkeeping
Do I really need a separate business bank account?
Yes, and it is the single cheapest fix in small business bookkeeping.
The practical reasons: it turns a month of sorting into an afternoon, it makes the books cost less to maintain, it gives you a real answer when someone asks whether the business is making money, and it is the first thing anyone looks for if the IRS ever asks questions.
The legal one: if you formed an LLC or a corporation for liability protection, running personal money through it is how that protection gets argued away.
It does not have to be complicated. One business checking account, one card used only for business, and a set transfer to yourself on a schedule instead of swiping the business card at the grocery store. When you slip, note it and reimburse the right direction.
Most banks have a free business account. The cost of not having one shows up in your bookkeeping bill.
Want us to handle this for you? Bookkeeping + Tax →