ACCOUNTANTS: How to use clients and operating business Bank accounts?
Hello,
Im just starting a business as a broker. I have some clients in Latin America that place orders online from major department stores, then I receive the merchandise and send it to their countries. I charge a percentage of the order's amount as a commission.
I recently opened 2 business accounts : one for Client's funds and one as operating account. My questions are:
- The operating account, what should I use it for?
- In what account should I deposit my profit and how?
- My commission, needs to be transferred from clients account to operating? or a personal account?
- Expenses like paper, inks, boxes, etc, etc, from which account?
- And the most important! How can I organize this for tax purposes?
Thank You! Thank You!
[email protected]
Hello,
Im just starting a business as a broker. I have some clients in Latin America that place orders online from major department stores, then I receive the merchandise and send it to their countries. I charge a percentage of the order's amount as a commission.
I recently opened 2 business accounts : one for Client's funds and one as operating account. My questions are:
- The operating account, what should I use it for?
- In what account should I deposit my profit and how?
- My commission, needs to be transferred from clients account to operating? or a personal account?
- Expenses like paper, inks, boxes, etc, etc, from which account?
- And the most important! How can I organize this for tax purposes?
Thank You! Thank You!
[email protected]