posted by queen .
A friend of yours wants to start her own pet sitting business. She already has a business license that is required in her city. She has had a personal checking account for years. You have told her that she also needs to open a separate account for her business needs, but she does not understand why. Explain to her why she should have a business account separate from her personal account. Use some of the language of busines.
We'll be glad to critique your answer.
personal account: deals with your own personal money, which is not used for non-business purpose.
Business account:the money is has several ties to it, payroll,state taxes etc,,,
I think you mean that a personal account IS used for non-business purposes. You may want to mention other ties to business accounts, such as other taxes (federal), depreciation, other expenses (utilities, advertising, etc.)
I suggest you write out your answer in complete sentences, using paragraph format.
accounting I -
Explain why she should have a business account separate from your personal account.