Cash flow management is crucial for any business. You need to know exactly how much money is coming in and how much is going out. A business bank account can help. But it’s not just a good idea—if you’re registered as a limited liability company (LLC) or corporation, the IRS strongly recommends opening a separate bank account for company finances.. If you’re a sole proprietor, it’s not required but still recommended to help you track your expenses.
Here’s the good news: Opening and maintaining a small business bank account is easy, and it can be an exciting step in your journey as a business owner. Read more about how to open a business bank account, its requirements, different types, what to look for, and their benefits to small business owners.