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View Full Version : If you use a business name do you have to have a business account?



Ripeberry
13-01-2009, 07:42 PM
Hi, just wondering what to do, i'm setting up my childminding under a business name but only have a personal account. Is it best to set up a business account or just get the parents to pay in my personal name?
I've got a seperate account that is just ticking over and i was going to use that for childminding.
How do you manage your accounts?

tulip0803
13-01-2009, 11:00 PM
Sorry don't have a business name and use my personal account but someone will answer at some point.

Chrissy B
22-01-2009, 09:17 AM
Sorry i don't know, but i hope you get some answers soon.

Andrea08
22-01-2009, 09:41 AM
Hi ,Fun Days Childminding Service but every one calls me Andrea and i just use my own bank account if need to for cheques or instant bank payments, if you recieve the gov. funding for 3yr olds (2yr olds in some areas) then you need a different bank acc. not nessesary a buisness one but ask your LA it can be different in some areas..

hope that helps xx

FizzysFriends
22-01-2009, 09:59 AM
I have a business name but for my own use only. Its not registered with companies house. For the purposes over very thing I use my own name and its only on my paperwork that I use Happy Bunnies. I use a personal bank account, I had one that wasn't doing anything so I used that so that the money is seperate.

DudleyChildmind
22-01-2009, 10:36 AM
I am just in the process of setting up my business name (which the children chose for me) and we are also creating a new website but I will still use my personal bank accounts.

don the duck
22-01-2009, 12:18 PM
i have a business name and its also on my business bank account. u dont have to have a bussines account but personal i thought be better aas wouldnt get confused and they offer better services for small business.

think its all up to personal choice

misst104
22-01-2009, 12:39 PM
On our recent business training we were advised to open a seperate account for childminding side of finances but not to tell bank that it was for that purpose (just to say its a private personal account). Only problem is that I can't remember why :rolleyes:

Jo x x x

Chatterbox Childcare
22-01-2009, 01:06 PM
Hi ,Fun Days Childminding Service but every one calls me Andrea and i just use my own bank account if need to for cheques or instant bank payments, if you recieve the gov. funding for 3yr olds (2yr olds in some areas) then you need a different bank acc. not nessesary a buisness one but ask your LA it can be different in some areas..

hope that helps xx

You do not have to be a business to accept these payments. Mine all go into my personal account.