How to Open a Business Account

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When opening a business account, consider opening several accounts to handle credit card payments, payables and payroll to keep things more organized. Open up a business bank account with information from an accounting professor in this free video on business.

Part of the Video Series: Business Accounting
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Video Transcript

Hi my name is Shawn Jones, adjunct professor here at Argosy University. Today we're going to talk about the topic of opening a business checking account, or other business bank accounts that are needed to run your business and help it perform it's day to day functions. If you are a larger organization I would suggest opening several bank accounts, especially if you're going to be doing credit card processing. You my want to look into opening one account to process your credit card accounts, one account to handle the payment of your payables, and then another account to be able to pay your payroll. This helps you to diversity those accounts, it also helps in the reconciliation process to be able to make that process much cleaner and much smoother. However, if you're a much smaller business, one business account or checking account would be sufficient for your business needs. But the process for doing so is simply, you can simply open a bank account by going online to any bank that is within your area. Or simply going down to the branch and being able to discuss with the branch manager and filling out the necessary paperwork for opening your business checking account. For more information about this topic, please visit our website, argosy.edu. There you can find our phone number or an address to come and visit our Salt Lake City campus.

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