More on cashing checks and bank accounts

Following up on my previous post about cashing your first check, I thought I’d mention how important it is to set up a separate bank account for your business.

Now, if you’re a sole proprietor, you can deposit checks to your personal account. But it makes for messy books, unless you’re an organized person. If you don’t have the budget to open a small business bank account, consider opening a second personal account. As long as the checks are made out to your name, you should have no problem cashing them. For the most part, the government doesn’t care whether you have a "business bank account" — they just want to see that you treat your business like a business.

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