Checkbook Register Use This Form To Keep Track Of Your Purchases: Fill & Download for Free

Learn to balance your checkbook."But, Drew, nobody uses checks any more!"I know, but you should have them if only for the register they come with. If you don't, make your own and stick to it! Update it after every purchase, or at least at the end of every day. Do not trust "keeping track in your head". Keeping track of accounts is what I do and I still don't trust my own head for my one checking account.I think that everyone should live in the ghetto for at least a year. On top of building character, it also will save you a lot of rent money. I lived in a cute little house in the middle of rough neighborhood. My neighbors had 12 people living in a single family dwelling while growing corn in the front yard and weed in the back. If gunshots aren't a common sound, you are probably paying too much for rent. Ok, maybe you don't have to be as extreme as me, but sacrificing convenience and property value to save money is an important and humbling thing to learn. Even the shadiest of neighborhoods can be a relatively safe place to live if you live smart.The last thing I can think of is to minimize any kind of monthly payments. These usually accompany luxury services like cellphones, cable, and cars. You do not need cable. You do not need a $80/month smart phone. And you definitely do not need a car payment. You can be completely entertained with a $10 WalMart HD antenna and $20/month Internet. Staying out of debt as long as possible will greatly improve your chances of survival. The one exception to this is student loans, but before you start laying those loans, make sure you are committed to college and your degree will land you employment that will help pay off the loans.

This will depend on if your bank will allow it and the Terms and Conditions of the financial institute you picked.Be sure to keep track of your expenses and to not commingle. The purpose of a business bank account allows you to keep track of business expenses, simplify tax reporting, deposit payments under your company name, and to set up credit card payment acceptance.Opening a business bank account is one of the most important things you can do when starting a company. A business bank account plays a key role in growing your business, while protecting it and yourself at the same time. It allows you to keep track of business expenses, simplify tax reporting, and deposit payments under your company name. In this article, we outline crucial reasons for opening a business bank account and what you will need in order to do it.When Should I Open a Business Bank AccountYou should open a business bank account as soon as your business has an Employer Identification Number (EIN) or begins to accept or spend money.The reason is the Internal Revenue Service (IRS) requires that any incorporated business have a business bank account. The rule applies whether the business is structured as a sole partnership, a partnership, limited liability company (LLC), or corporation.A sole partnership isn't legally required to open a business bank account, but you should get one anyway. A business bank account is a pre-requisite for obtaining business loans. The reason is because lenders won't approve your business loans unless funds can be deposited into a business bank account.Moreover, a business bank account is a must if you want to accept credit card payments for merchandise or services. If you have an ecommerce business, you'll need a business bank account to accept payments through your point-of-sale system.Business Bank Account AdvantagesA business bank account provides a simpler and more professional way to run your business. It makes it easier to manage your financials and protect your personal assets in case of a lawsuit.Clean Financial RecordsThe main reason why it’s recommended to open a business bank account is that it alleviates problems that is caused by mixing your business and personal finances.Opening a business account can help you separate business and personal expenses, allowing you to effectively track your business cash flow. You’ll also have a better way of managing budgets with a clear overview of your spending and expenses.Through separating your personal and business bank accounts it will help you manage and organize what is necessary for taxes and deductions at year end. You will also have a clear audit trail.Preserving Limited LiabilityAs a Limited Liability Company (LLC) opening a business bank account can protect the owner’s liability more effectively because they won’t be combining business and personal funds.Since LLCs are separate legal entities from the individuals who own them, the owners can’t be held personally responsible for the debts that the company may accrue. However, there are some cases in which owners, members, or stakeholders are held personally liable for the company’s debts by the courts. This is referred to as “piercing the veil.” As a result, the owner’s personal assets, such as their home or personal investments, can be used to pay off the LLC’s debts.One of the reasons why an LLC might have its veil pierced is for not adhering to corporate formalities, which include keeping detailed records of important decisions or holding annual meetings of stakeholders. It’s important for LLCs to strictly follow the rules surrounding the formation and governance of the company.Small LLCs are especially vulnerable to having their veils pierced due to their size and corporate practices.One of the mistakes that many small businesses make is “commingling assets,” by using business assets for personal needs or vice versa. This is strictly prohibited. For example, a small business owner might mistakenly use corporate assets to make an installment on a personal mortgage. So if you want to decrease the risk of putting your personal assets in jeopardy in the event of a lawsuit, then you need to adopt some protective legal measures. One of the most important things you can do is to keep your company’s bank account separate from your other accounts.Saving MoneyFor tax purposes, you have to keep your personal and business income and expenses separate. Tracking business purchases and deposits in a separate bank account can help you manage budgets and financial transactions more easily when it comes time to file taxes. Just think about how chaotic your checkbook would be if you used it for both personal and business transactions throughout the year. This mess could prove costly when tax season rolls around.Also, there are clear guidelines that differentiate a business from a hobby, and only businesses are allowed to deduct expenses. However, if you use a personal account to manage your business transactions, the government will consider your business to be a hobby. In case of an audit, this will inevitably become a difficult task when you have to look at every single transaction, no matter how small, to set personal apart from business.Therefore, a separate bank account for your business will make it easier to show all your records to your accountant. Bear in mind that you have to file your business transactions in a different form from your personal tax information.The Business Bank Requirements For Business EntitiesHere’s a basic overview of what you’ll need to open a business bank account based on your business entity type.Limited Liability Company (LLC)Employer Identification Number (EIN)Business AddressMailing AddressRegistered AgentPersonal identificationBusiness license and business permit(s)Certificate of assumed name or DBALLC operating agreementArticles of organizationMonthly credit card revenue for merchant accountsNeed tips on opening a business bank account for your LLC? Check this out 3 Steps to Opening a Business Bank Account for Your LLC | GoRemote by VirtualPostMail

I found an useful review article from Tomsguide. I used Money Lover and Mint and really like them. easy to use and keep track of your cash flow.Money Lover (Android, iOS)This app is an all-in-one bank account tracking and budget management app that shows you how much you've got in your accounts, as well as how much you can afford to spend for the day. The app connects to your bank and card accounts through an encrypted, read-only connection, allowing you to quickly view the status of your accounts and transactions while remaining secure. The app automatically sorts your purchases, subscriptions, and bill payments, and factors in your previous spending factors to provide you an estimate as to how much you can safely spend from your accounts without going into the red.Money Lover - Money Manager - Android Apps on Google Playapk hereSpendee (Android, iOS) (Freemium)Spendee (Android, iOS) features a brightly colored and user-friendly UI that comes with great budgeting tracking tools whether you're a free user or a subscriber. Expenses are quickly logged into categories, with the option to snap photos of bills and receipts for easy storage. The Feed tab lets you easily scroll through your expenses, while the Overview mode offers useful infographics on your spending over time, as well as a breakdown of what items and categories you're spending your money on. Spendee has also added a budget creation tool, elevating it from expense tracker to proper budgeting app. Premium users can create multiple budgets, multiple (shareable) savings wallets, and sync their data easily across multiple devices.Spendee - Android Apps on Google Playapk hereMint: Money, Bill Pay, Credit Score & Investing Personal Finance (Android, iOS)Intuit's Mint Personal Finance (Android, iOS) not only helps you track your income and expenses, but also your financial state as a whole. Besides allowing for in-depth personal budget management and expense logging, the Mint app lets you sync your bank and card details for an up-to-date and secure look at your financial state. It's overkill if all you're looking for is a little help with simple budgeting, but Mint Personal Finance is great if you're looking for more features.Mint: Personal Finance & Money - Android Apps on Google Playapk hereExpensify (Android, iOS)If you're a business traveler, then Expensify (Android, iOS) is easily your best friend when it comes to making easy expense reports. It allows you to manually track expenses, photolog receipts and even import purchase info from your credit card for IRS validated eReceipts. Perhaps the best feature is Smart Scan, which allows users to photograph a receipt and have it read by computer and automatically generated as an expense. The app includes input options for travel mileage, time and rate based expenses, as well as automatic currency conversion.Expensify - Expense Reports - Android Apps on Google Playapk hereMvelopes (Android, iOS)Where does all the money go? At the end of the month you may be surprised at how much went toward your morning lattes (not kidding). Mvelopes (Android, iOS) gives you the tools to track your daily spending while keeping your weekly or monthly budget in focus. The app features an “envelope budgeting” system that helps you plan as well as get feedback on how you spend your money. A universal accounts screen lets you view checking, savings and credit card balances in one place. You can even sync the mobile app with the Mvelopes web app.Mvelopes Budget App – Android Apps on Google Playapk hereSpending Tracker (Android, iOS)Spending Tracker (Android, iOS) is an expense manager that helps you track your spending and stick to a budget. First, enter your income and expenses, and then choose weekly, monthly or yearly tracking — or set an amount to meet your goals. You can carry over remaining funds to the next week or month and travel back and forth in time to mark your progress and your main areas of spending.Spending Tracker – Android Apps on Google Playapk hereExpense IQ (Android)Expense IQ (formerly EasyMoney) combines an expense tracker, budget planner, checkbook register and bill reminder to allow you to easily track daily expenses, create monthly budgets and analyze spending via customizable reports. The app’s Smart Overview shows account balances summary, critical expense reports, upcoming/overdue (be it one-time or recurring) bill reminders and budget warnings. It also features repeating transactions, transfers between accounts, and detailed, interactive reports.Expense IQ - Android Apps on Google Playapk here