Bank and Software Recommendations
This post may contain affiliate links, which means I’ll receive a commission if you purchase through my link, at no extra cost to you. Please read the full disclosure here.
As a bookkeeper, I see a lot of the behind the scenes of a lot of businesses. And with that special view of the back-end, I've got a few favorite banks & softwares (and a few not-so-favorites).
Keep reading to learn about my top bank & software recommendations for small business owners.
Business Banks
Having a business bank account is so important for staying organized with your bookkeeping and not piercing the corporate veil.
When choosing a bank, think about the future goals of your business. Do you plan to hire a bookkeeper some day and need a bank with accountant access? Will you accept cash from customers and need a bank with a brick & mortar location near you? Will you write checks and need a bank with a physical check option?
Most banks offer a free business checking option so you don't have to pay service fees. Be sure to choose a bank with little to no fees. I hate seeing my clients pay $10-15 per month just to use a checking account when there are so many free options!
My favorite bank for online businesses is Relay Bank. They don't have physical locations, so if you accept cash in your business, a local bank might work better for you. Relay has wonderful capabilities for transferring money electronically, linking to accounting software, and adding an accountant read-only user. Click here to create an account with Relay today.
Some other banks that I enjoy working with as a bookkeeper are Chase and Bank of America.
Although I prefer supporting small & local businesses for almost everything, I don't recommend small, local banks for business bank accounts. They rarely link to accounting software, they are generally more clunky and less user-friendly, and they often don't offer read-only accountant access.
Business Credit Cards
Having a business credit card is totally optional. I only recommend opening a business credit card if you can be responsible with it and pay off your statement each month. Credit cards can be a slippery slope into debt, and it can happen quickly if you're not adamant about paying off the full amount each month.
If you are interested in opening a business credit card, I recommend Chase. They offer great credit card point options, some cards with no annual fee, and some cards with 0% interest for the first year.
Click here to apply for a Chase business credit card. If you use my link to open a card, we both receive a bonus from Chase.
American Express is another great option, though Chase is my top choice as a bookkeeper.
One credit card company that I don't recommend is Capital One. Capital One doesn't link as nicely to accounting software as Chase and AmEx do. And you can't add your future bookkeeper as a read-only user to your Capital One business card, as you can with Chase and AmEx. If you plan to grow your business and will eventually need accounting software & a bookkeeper, I recommend steering clear of Capital One.
Accepting Payment from Customers
Accepting credit card payments from clients and customers is an essential part of running a business. The small fee is worth it because it makes life easier for both you and your clients. You save so much time not chasing down checks and depositing them into the bank.
Dubsado is a CRM software that also offers a payment processor, scheduling tool, lead forms, contracts, and more. I loved using Dubsado in the early days of running my business. To sign up for Dubsado and receive 20% off your first payment, click here. Or, use my code BLA20 at checkout.
Once I was ready to create my DIY bookkeeping course, Clear Profits, I left Dubsado for Kajabi. Kajabi offers websites, email marketing, course products, payment processing, and more. If you have a course or community, I highly recommend Kajabi! Click here to sign up for Kajabi.
I don't recommend using Venmo to accept payments from customers, even if you are using a Venmo for Business account. Venmo is clunky and hard to use for the bookkeeping process. Plus, it just doesn't come across as professional as an actual CRM / Stripe payment processor does.
Paying Employees & Contractors
If you are running payroll in your business or paying contractors, I highly recommend Gusto.
Gusto is so user-friendly, and it seamlessly links to accounting software. They file payroll returns on your behalf, which eases a large administrative burden!
Click here to sign up for Gusto. If you use my link to sign up, we both receive a bonus from Gusto.
Keep in mind, I don't recommend doing your own books if you are running payroll in your business (for W-2 employees or for yourself if you're an S-Corp owner).
So, if it's time to hire W-2 employees in your business, it's time to hire a bookkeeper. Click here to fill out my inquiry form if you'd like to learn more about the bookkeeping services that I offer.
