How to Open a Business Bank Account
Once your business is established, keeping business finances separate from personal finances is an important part of staying organized.
A dedicated business bank account can make bookkeeping, expense tracking and tax preparation easier.
What You May Need
Depending on the bank and business structure, you may be asked for:
- EIN
- Business registration documents
- Articles of Organization or incorporation documents
- Operating agreement
- Business license
- Personal identification
Ask your bank what documentation it requires before opening the account.
Separate Business and Personal Finances
Avoid using your personal checking account as the primary account for your business.
Instead:
- Deposit business income into the business account
- Pay business expenses from the business account
- Keep receipts
- Track transfers between accounts
- Maintain organized financial records
- Consider Business Credit
As your company grows, you may also want to explore:
- Business credit cards
- Business lines of credit
- Equipment financing
- Business loans
Bossorama Tip: Your business bank account isn't just a place to put money. It's part of the financial foundation of your company.
