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Tax.appeal.168
Tax.appeal.168, Accountant
Category: Finance
Satisfied Customers: 3740
Experience:  Tax Accountant
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I am buying a small business. i already have an abn and

Customer Question

hi i am buying a small business . i already have an abn and business name and need to know wether to pay for the business through my bussiness account or my noormal bank account
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: i need to know wether to pay for the business through my business account or my normal bank account
JA: Is there anything else important you think the Accountant should know?
Customer: no
Submitted: 2 months ago.
Category: Finance
Expert:  Tax.appeal.168 replied 2 months ago.

Hello. Thank you for choosing this Q&A site for assistance. We appreciate your trust in us. My name is Angela. I will be assisting you.

To keep the business records clean, it is always best not commingle personal and business funds. If you're buying a business, and currently have a business account, my suggestion would be to pay for the business using the business account. If you don't have enough money in the business account, you can make a deposit to it. While there is no cut and dry regulation on using personal monies for business purchases. It's just cleaner if you keep the two separate.

Let me know if I can be of further assistance to you regarding this matter. If I have addressed your inquiry, I ask that you please take the time to scroll to the top of the page and select 3 or more stars to positively rate my response so that I can receive credit for assisting you.

Expert:  Tax.appeal.168 replied 2 months ago.

Hello again. I am checking to see if you require further assistance with this matter. I have also noticed that my response has not yet been rated. As you have not posted any negative feedback, I take it that my response was satisfactory. Therefore, I ask that you please take the time to scroll to the top of the page and select 3 or stars to positively rate my response so that I can receive credit for assisting you. Thank you in advance.