efficient track of money in BAH: how many business accounts and which ones
Hey guys,
we are BAH (buy-and-hold) property owners that just separated our business account from personal.
To efficiently operate rentals, what business accounts would you recommend to have? Would you recommend:
-a small business CREDIT CARD on top of a small business CHECKING account (all the rental income?
-SAVINGS account to put away 10% of the rental income form CHECKING acct for future maintenance expenses?
-separate SAVINGS account for tenant's DEPOSIT or just put the tenants deposit to the SAVINGS account receiving 10% of rental income?
I just want to simplify tracking of income/expense.
It seems to me just one checking account (income from properties and expenses associated with properties) would be easier to track rather than checking acct AND a small biz credit card. In the same time do not want to miss out on the perks of a small business credit card.
PLease, advise ;)))
Thank you!
Edita