Open a Business Bank Account and Credit Card to Stay Organized

By QuickBooks Canada Team

0 min read

Using a business banking account to keep your business finances separate from your personal finances is a great way to stay organized. You can easily track cash flows for your business. At tax time, it will be easier to separate your business expenses from your personal expenses. For example, if you have a charge from a restaurant from several months ago, you may not remember if it was personal or a business lunch.

Another benefit to using a business banking or credit card is that you may receive discounts or offers simply for being a business owner. If you travel often for work, consider using a credit card that offers discounts on hotels.

Higher credit limits may be available, as opposed to a personal credit card. This is useful if you need to make frequent large purchases for your business. These large purchases can increase the frequency of reward payouts.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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