Page 8 - Perfect Balance - Sle Trader Guide
P. 8
The importance of a business bank account
Having a separate business bank account to your personal account is a fundamental step in ensuring the financial health and professionalism of your business. Mixing personal and business funds can lead to confusion and extra work
for you and/or your bookkeeper.
A dedicated business bank account helps maintain clear financial records. You can easily track income and expenses relating solely to your business, making tax preparation simpler and more accurate.
TOP TIP!
Many online bank accounts are free to use when your turnover is under a certain level so take a look at the different accounts available and ask others who they use.
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