Account for Fees

hi new to the site and to starting out to be a childminder and was just interested in whether you use your current account for Fees etc to be paid into or did you open a second account to use as I currently have joint account with OH and not sure if I can just use that or should open a new account purely for my business.
Sorry if this is not the correct place to ask this question wasn't totally sure where to post it thanks for any help

This has been much discussed before- try the Search button above. It comes down to personal preference and how you like to arrange your finances.
There is no 'must' or 'have to'.

I have my parents paying into my joint account, all my family and CMer out-goings come from that account, I write all my CM income and outgoings in my accounts book so all is clear.

Some people prefer a separate account to receive CM income into and then you have to transfer to your own personal account to pay your mortgage/bills etc. BUT, it does NOT need to be a 'business' account- no need to even tell the bank what you are using it for, a real 'business' account is not relevant to us with our low incomes and small amount of cheques etc going in and and you do not want to be paying the fees involved in 'business' accounts.

Some people keep another account to put money aside for the income tax bill.

As long as you have detailed and thorough accounts written up it is just your personal choice. People will usually support their own preference, so just go with what you feel happiest with.

thanks Moggy for your help and for letting me know about the business account as that was going to be my next question.

I've got a normal, separate account that all parents pay into. The bank is not aware it is a business account as it doesn't have that much activity going through it. I'll transfer to my joint account when necessary. Then its easy when it comes to doing to my tax return as its all in one place. Over the years you'll be asked for your bank details, for childcare vouchers, for funding, tax credit details etc.

Fees are paid in to mine & DH's joint account and I do things much the same way as Moggy. DH & I also have an online savings account. As I take deposits from parents I put them in here and they remain untouched until I need them for last months fees or reimburse them at the end of the agreement. Some parents pay by vouchers and prefer to have the savings these bring in the last month, rather than use the deposit. It is useful to be able to "ringfence" the money this way so it doesn't get spent when we have a tough month.

thank you all for your advice.
I had wondered about what people do with deposits when keeping them until the end of contract so great idea Tealady about using savings account ive already got a couple of online savings accounts i dont really use anymore, would be ideal to use

I use my current account as that is where all my dd and s./o come out of etc.....but i am currently debating whether to set up a separate account for funded payments to go into - as my LA are currently paying 100% of our funded payment at the beginning of the period so you get 4 months money all at once! I don't like working like that I would rather it went in monthly - so thought the 2nd account to filter installments into my current account ! or I could just learn to budget better!