What are four things to look into your business Bank account ?

Business banking is important part of your business and it is a distraction for business owner as time can be utilized toward business growth.

If you are a small business or a sole trader you have no choice to keep an eye on accounts transactions yourself unless you can afford to have an internal accountant.

Accounts Fee

Most small businesses do get a discount or offer in the first year of opening business bank account with no transactions fee. The fees are payable on every transactions but the fee charge is different on transactions amount and types. It also depend on what sort of account you are using business current account or business saving account. It is good practice to read the fees charges descriptions and check the charged amount to ensure you have not been overcharged. If you take payments by card machine, the fee charges can amount in hundreds and thousands depend on your turnover. There are different charges for different cards such as american express is charged more than visa debit and visa credit card. It is good practice to do regular bookkeeping it will ensure all the funds have been cleared and the fees charged are correct.

Business Credit and Debit Cards

Business debit or credit card attached to your bank can automatically collect the payments from your bank accounts. It is important to log the details of expenditures as it will make year end accounts preparation process easy and will allow you to manage the account balance to have enough funds to clear the transactions amount. Logging the details will also help to spot any unusual transactions and will provide you time to take action in timely manners.

Discount and Savings

Most banks provide discount and saving which are linked to business account such as discount on insurance or other services bought from the same bank. This can help you save money.


Business accounts offer overdraft facility. They charge fee on overdraft amount. It can be beneficial for sole trades or small business owners if they are facing short term cash flow problems. As there are small fee attached to overdraft, It can be more financially viable rather than getting loan and paying early settlement fee or arrangement fees.

It is good practice not to use overdraft facility each month and not to become reliant on it as it can be good for short term but for long term it can put you in debt.

Regular Bookkeeping and using reputable accountant such as S K Punia Accountant will make sure you are not charged hefty amount of bank charges.

Business Banking Review

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S K Punia Accountant



We get to know you: We will learn about your business and understand the industry it operates in, ensuring we always meet your expectations and deliver the best accountancy services support

You have one point of Contact: As other firms you will no longer first go to call centers and account mangers, at S K Punia Accountant you will have personal accountant who will be your main point of contact at all times saving you time and hassle.

We take care of numbers: You will no longer need to worry about sorting out tax bills and financial compliance for your business- from now on, We will take care of it all for you, giving you peace of mind and saving time to utilize toward your business growth.

Great Advice: We will ensure you keep as much of your earnings in the most tax efficient ways as possible in accordance with HMRC requirements.

Market Leading accounting software: We will ensure you have access to market leading accounting software such as Xero, Sage or Quickbooks and will provide you training

Weekend & Evening availability: Most of our clients have side business and also employed. We provide weekend and evening appointments saving you time and money by not taking the time off from work.

Why  Chose S K Punia Accountants?

Mobile: 07809568192

Phone:  02081273963


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