Your business account comes with an ATM, Debit card. Pick a really secret pin number. Don't give it to anyone even in an emergency. Make sure you record withdrawals. If you have a bookkeeper paying your bills for you, be careful because they won't know that you took out money. They will be upset and so will you and your vendors if they mistakenly write a bad check to pay a bill because you forgot to tell them of your numerous unrecorded withdrawals from the ATM machine.
Originally ATM cards had a maximum of $300.00 per 24-hour period, suppose this was incase you developed a drug habit and take out the maximum $300.00 per night in cash or incase it was stolen to minimize risk on your account. Most business accounts do allow up to $1000.00 per 24-hour period now, but most likely you will have to ask for it. If you business might need this it is a good idea to have.
It is not wise to co-mingle funds such as taking $60.00 out of your business account via your local ATM to take your girl friends out to dinner. If you need $60.00 in cash then take it out of your weekly paycheck to yourself or even out of your daily cash before you put it into your bank account. Be sure however to report it as income because that's the honest thing to do. If not you have created a nightmare for your accountant and put up red flags during your tax form preparation.
"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.worldthinktank.net/wttbbs
maid service near Lake Forest ..In the 2003 Auto Laundry News Survey it was determined... Read More
You bet a name is important. Many small business owners... Read More
Back when I owned an inventory-based business, one of my... Read More
Summer is a time for the outdoors, for that well-deserved... Read More
Experts urge small business owners to "brand" their business ?... Read More
Articles abound advising the business community how to properly screen... Read More
All franchises must meet the legal definition of a franchise... Read More
Grow your Professional Organizer business by branching out into related... Read More
What could Seinfeld possibly have to do with marketing a... Read More
The difference between rates and wages is not always clear... Read More
Expanding your business requires you to take a good hard... Read More
Shopping for a franchise is easy if you know what... Read More
The employer / employee relations environment has been constantly evolving... Read More
Why Alliances FailWhen do you know an alliance is falling... Read More
Many have not experienced a fire up close. One year... Read More
Are you a motivational speaker who consistently gets rave reviews... Read More
Pity parties are nothing new. In fact, we do it... Read More
The reason we Franchisors call it an exclusive territory is... Read More
Just a few years ago, when one thought of a... Read More
Introduction: This article is written as a general discussion on... Read More
Small business success is very similar to learning to walk,... Read More
Small businesses need Public Relations, possibly more than large corporations,... Read More
You know your prospects need what you sell. You know... Read More
There is a rather famous true story called "Acres of... Read More
Why should you always maintain a good report with a... Read More
top rated cleaning service Des Plaines ..There are countless ways to save your business money. Unfortunately,... Read More
Why should you always maintain a good report with a... Read More
Did you ever have one of those days or weeks... Read More
As you may already know, asphalt paved parking lots do... Read More
When do you need to get more involved with the... Read More
Success is the desire of everyman on the face of... Read More
If you are a motorcycle detailer and need to expand... Read More
In a quest for customers and to keep those customers,... Read More
We all know that competition is an ugly word but... Read More
This is the tale of two business plans with very... Read More
I started working with another new client last week. He... Read More
We were more than excited. Our women's doubles tennis team... Read More
The success of your business is critically dependent on how... Read More
The single most important activity you can do in your... Read More
Seventy percent of US households use the web when shopping... Read More
The Workers' Compensation situation in this country is unbelievable. Why,... Read More
Every business plan book tells you how the Executive Summary... Read More
How a donation is different from a sponsorship and what... Read More
1. There Are No "gimmes" ? They count two-foot putts... Read More
In the book Women and Small Business author gives all... Read More
When should you create a foundation in order to solidify... Read More
There is a continual trend we are seeing which I... Read More
Last week we discussed the importance of performing an autopsy... Read More
$37.4 million funded from venture capital today. $86.4 million funded... Read More
First, we need to define the different kinds of skip... Read More
Small Business |