hi guys.

am just due to start minding in new year and was wondering if i will need a separate bank account for minding???:confused:
the one i use for everyday gets my direct debits etc paid out of it,will that matter, or will i have to open another account for payment of fees,expenses etc.(not that there's a load of money in it!!)

any suggestions???!!

thanx

I dont have a seperate account but I no some minders do x

I do not have a different account

Angel xx

No - I don't have a seperate bank account

me neither

but it is up to you really :)

take care
holly

Hi I have a separate account for childminding, but it's just an ordinary current account. Just thought it would be easier to keep track of money.

Marie x

Hiya

I don't have a separate account for childminding either. Its up to you whether you want to keep everything separate or not

Emler x

As above...in fact I don't have an account of my own at all, it'll be done through hubby's.

Ive just opened a seperate account for my childminding. I will lose track otherwise.

Sam x

Abbey National do a business account with no charges and very few restrictions

If you eventually become an accredited network childminder and offer the NEG funding for 3 year olds then you would have to have a separate bank account as you are paid directly (in my case from Stafford) but for my other children I just use my normal account.

Teacake2:)

Hi I have a separate account for childminding, but it's just an ordinary current account. Just thought it would be easier to keep track of money.

Marie x

I also have a seperate account. I pay ALL my childminding money in and take out ALL the money I spend out of the account. (Uniform, Insurances, Purchases of equipment etc)

I kind of pay myself a wage of £X each month and pay it over to 'our' personal joint account. Anything extra I keep for myself - Sssssssshhhhhh!


It really does make it easier when it comes to doing your accounts. Especially if you have to do full accounts when your income is over £15,000.