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Pro Audio
Junior Varsity
Managing a developing, young business
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<blockquote data-quote="kristianjohnsen" data-source="post: 50368" data-attributes="member: 441"><p>Re: Managing a developing, young business</p><p></p><p></p><p></p><p></p><p>Haha.</p><p></p><p>Just to be clear:</p><p></p><p>The business debit card account should never even contain your earnings! That's what the personal account is for. Your business account should hold your revenue and then the business debit card account should hold a smaller portion of that.</p><p></p><p>Sometimes a business account may hold lots of money that isn't yours: Collected sales tax, money set aside for freelancers who envoice "through your company", etc, etc. If you are holding a bunch of money for the state or other businesses, just waiting to be redistributed, and that account has a debit card, you might get royally screwed if your card is stolen. Better to keep that money in an account with no card.</p></blockquote><p></p>
[QUOTE="kristianjohnsen, post: 50368, member: 441"] Re: Managing a developing, young business Haha. Just to be clear: The business debit card account should never even contain your earnings! That's what the personal account is for. Your business account should hold your revenue and then the business debit card account should hold a smaller portion of that. Sometimes a business account may hold lots of money that isn't yours: Collected sales tax, money set aside for freelancers who envoice "through your company", etc, etc. If you are holding a bunch of money for the state or other businesses, just waiting to be redistributed, and that account has a debit card, you might get royally screwed if your card is stolen. Better to keep that money in an account with no card. [/QUOTE]
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