Finance

Which type of bank account do I need as a sole proprietor ?

min read
Opinions expressed by Entrepreneur contributors are their own.
CAN you use your personal bank account? Yes. There’s no law that says you can't, especially as you're operating as sole proprietor.

SHOULD you? Absolutely not. If you're serious about being in business, get serious about accounting for your business expenses and transactions properly by having a separate business account.

It can also save you money on accounting fees, as you'll save your accountant time and frustration trying to parse out your business from your personal expenses.

More from Entrepreneur

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.