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
disinfecting cleaning services Buffalo Grove ..1. TargetYou are not all things to all people. Decide... Read More
With the massive explosion of start-ups and home businesses developing,... Read More
No matter what kind of small business you have, you... Read More
If I had $1.00 every time I heard someone say... Read More
You've probably heard the statistic that 95% of small businesses... Read More
As a practitioner and student of Small Business Marketing, I... Read More
A Mattress Cleaning Business might be just for you if... Read More
Whether your target audience is in your neighborhood or across... Read More
Having their own business is something many millions of people... Read More
Achieving real success should be the goal of any good... Read More
Everyone wants to succeed in life. Most people want to... Read More
To have one of the popular in home daycare businesses.... Read More
Everyday, customers and business owners are bombarded with billboards, logos,... Read More
Most business owners know when they need an accountant, but... Read More
Setting priorities in your business? Your first job is to... Read More
The current lack of industry leaders represents an exceptional opportunity... Read More
The easiest way to lift profits is to cut the... Read More
As a practise gets larger & larger the associated problems... Read More
When is the Chamber ideal for your business?Joining a Chamber... Read More
People will always stress that having a well researched business... Read More
Here is an interesting case study of a company, which... Read More
So often small service businesses fail to exploit niches, which... Read More
The stock market is still on a wild roller coaster... Read More
So you want to start a business but you don't... Read More
Running a business on the net these days can be... Read More
spotless home service Arlington Heights ..The choice to incorporate a small business in Florida has... Read More
If you want to start a business in 2005, and... Read More
Just as you are about to say "good-bye" to your... Read More
Scenario OneDuring a recent presentation, a business owner was given... Read More
Should you buy a business opportunity or Franchise if you... Read More
The story is told of a tiger chasing some goats... Read More
Most business owners know when they need an accountant, but... Read More
Looking for a place to add a Quick Lube away... Read More
When is the Chamber ideal for your business?Joining a Chamber... Read More
Shipping materials can be expensive! Even the styrofoam "peanuts" can... Read More
For the employees, payday is the brightest day; they finally... Read More
Seems as though there are a lot of business closings... Read More
How often has someone thought of starting a business based... Read More
Part of the power plan is making sure you have... Read More
You have spent considerable time pulling your business plan together,... Read More
A reader of one of my online sessions asked should... Read More
First you have to start with knowing your budget and... Read More
Approximately 200,000 new businesses are started each year. More people... Read More
Support is critical for your small business survival. You may... Read More
Most new small businesses won't be in business this time... Read More
You make the decision to go into business and for... Read More
Today required franchise disclosure documents are over 200 pages generally.... Read More
Someone new to business ownership recently told me, "Before I... Read More
You can make your trade show experience much easier by... Read More
Want your small business to flip instead of flop?! Statistically... Read More
Small Business |