Separate business/personal accounts?

[Marcel Carey]

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Maybe there are different rules in the U.S.A. But for me in Canada the
most important thing is to have a good accounting program. It's the in
and out of funds that are important. The accounting program can separate
the different use of funds. As long as you keep records (receipts) and
can prove what was used for the business you should be OK.
=20
Only my humble opinion.
=20
Marcel Carey,
Sherbrooke, QC

-----Message d'origine-----
De : pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] De la
part de william ballard
Envoy=E9 : 3 janvier 2006 20:50
=C0 : Pianotech
Objet : Re: Separate business/personal accounts?



On Jan 3, 2006, at 2:14 PM, Andrew and Rebeca Anderson wrote:

Co-mingling is what the tax-"services" call it.  Opening a second
account in the same bank usually works well.  Sometimes they allow you
to make electronic draws to your personal account but using a cheque is
better for record-keeping.


Let's not overlook having separate business checking and savings
accounts, so that when you get a deposit on labor yet to be performed or
invoices for materials yet to arrive, that deposit can sit in the
savings account and not get dissolved in the daily ebb&flow flow in the
checking account.


Bill Ballard RPT
NH Chapter, P.T.G.

"I go, two plus like, three is pretty much totally five. Whatever"
    ...........The new math
+++++++++++++++++++++


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