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Your Business Bank Account and Checks
| The majority of banks will charge some nominal fees for business bank accounts, however if you call around, you may find totally free checking for a small business. Take your articles of incorporation and your EIN number's printout to the bank, with $100, which is what the usual opening deposit is and open your account. Now you can start accepting checks made out to your business name. More importantly, you can start keeping your business money separate from your personal money - this is so important in the big picture - even if your business can only afford to pay you $20 a week, still do the process legitimately instead of mixing all the money up. This is a good business practice and habit to form early on so that when you get to the point of really bringing in good money, you will have proper accounting habits ingrained. Most banks will assume you are ordering checks through the bank, however the checks at the bank are very, very expensive. Ask your banker if you can optionally order the checks yourself. Most times, they will say yes, however if they do not, order whatever the smallest quantity is of the cheapest possible checks you can get. I use computer checks for my company. This looks more professional, and in order to print a check, I have to log it and therefore, I am documenting my transactions while I am in the process of taking money out of my account. I use Quickbooks to print my checks - if you do not want to buy Quickbooks at full price, look on eBay or Craigslist and pick up an old version -I found one for $20 - it is ok to use an older version, as you are only going to be using really basic functions in the beginning anyway. As your business gets to be more profitable, you can upgrade, however in the beginning, just pick up a cheap, used copy. For checks, this is where I get my checks from (I am linking to the exact checks I get): https://www.compuchecks.com/CheckTop.htm You can see that these checks come in quantities as little as 50 for only like $10 plus shipping and you can start with a small quantity and re-order checks when you need it. You will notice that there are options to upload a logo. If you want to create a quick logo, the next section will detail how to produce one. Source: Content Machine | |
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