Running a business

[Shigobad20201]

If you want to be succesful in your business endeavours , then you must definitely knows that you have to seperate your fund , I mean you must not join your personal fund with your business fund .

The company's account should be separated from personal account. The company should be managed and run as a different entity. After all, it will not cost you anything to establish your personal account. If the company needed fund ,you could transfer fund to the company's account.

 

[Chibson]

Well it is never easy to run a business because you will be faced with so many challenges and also so many problems but then you must always be dedicated and committed to your business

it is not even possible for you to run a business if you're not ready to face challenges. Every business comes with many challenges but your ability to solve it is what we determine the level of your success.

 

[Good-Person]

I would have no problem running a joint account if I trust the partner and if my partner is a good person. However, I would personally opt to start a business where I am the only owner of the business.

 

[Godspower]

I would have no problem running a joint account if I trust the partner and if my partner is a good person. However, I would personally opt to start a business where I am the only owner of the business.

Well, it depends on certain things. But I would have reservations about running a joint business account with someone else. You can never trust people when it comes to money issues.

 

[Danny4cash]

I prefer to have a separate account. I see alot of business owner having a joint account with their business. To me, it's not ideal because it'll make auditing very tedious. Business money should not be tamper with, but a business is using a joint account with it's business, there's now the business money will not be tamper with.

 

[Good-Person]

Well, it depends on certain things. But I would have reservations about running a joint business account with someone else. You can never trust people when it comes to money issues.

I think that a joint-venture company is a really different kind of company. It is not based on partnership rather it is based on amalgamation of two firms or two organisations.

 

[Shigobad20201]

I prefer to have a separate account. I see alot of business owner having a joint account with their business. To me, it's not ideal because it'll make auditing very tedious. Business money should not be tamper with, but a business is using a joint account with it's business, there's now the business money will not be tamper with.

If you want your business to succeed, you must seperate your business fund from your personal fund ,that will help you to know if you are actually making profit or running loss

 

[Godspower]

If you want your business to succeed, you must seperate your business fund from your personal fund ,that will help you to know if you are actually making profit or running loss

You should always have a dedicated bank account set aside separately in your business name. It will give you a clear idea of you're making profit or not when doing accounting.

 

[Sincerem]

For me as a business owner , i will have a business account in which the profit and everyfund needed for the business maintenance will always be . I do not link it with my personal or private account . There will be a business account.

 

[Shigobad20201]

You should always have a dedicated bank account set aside separately in your business name. It will give you a clear idea of you're making profit or not when doing accounting.

Most people are fund of putting all their money innthe same account which is not advisable , because you won't be able to know when you are running at loss in your business.

 

[Godspower]

Most people are fund of putting all their money innthe same account which is not advisable , because you won't be able to know when you are running at loss in your business.

Even if you are to be constrained to using only one account for everything, always ensure that you keep financial records of the business so that you can track your spending regularly.

 

[Sincerem]

There must be a separate account for my business if I am interested to take the business serious. I don't really know the reason of having a joint account in business but business must have its own personal account to make accounting easier.

 

[Immilash1]

In a Running of a Company as a boss what's your opinion :

1. Running a joint account with your company
OR

2. Having a separate account

Seriously is not that easy to run a business, business has so much challenges, for me I think having a separate account will be preferable.

 

[Chibson]

I think this is dependent on the nature of the business. If it is a partnership business you will need to have a joint account with the company and you can also have your own personal account if you wish. But if it is a sole proprietorship business you can have a personal account because you are the only owner.