When setting up a business it is ideal to have a business bank account for all your transactions to be in one place. For Limited Companies this is a legal requirement to have a separate business bank account.

If you’re a sole trader, it isn’t a requirement but there are many benefits to having one:
– Keep business & personal transactions separate
– Easier for bookkeeping purposes
– Prevent using business revenue for personal expenditure

If you haven’t already set up a business bank account, doing so can significantly simplify your bookkeeping process and make your life easier.