Should a business owner be in charge of the business account?

[Niyi Briggs]

I have a staff in my business that is in charge of money. She keeps account of income and disburses my salary. I took this measure to make me keep my eyes from business money and refrain from spending it. Do you think it is a good approach?

 

[cherry123]

Yes it all depends on the person and the company. if you can't keep money yourself then employ someone better but if not then keep it yourself. it's a lot better.

 

[astutimeliana723]

Yes it all depends on the person and the company. if you can't keep money yourself then employ someone better but if not then keep it yourself. it's a lot better.

Right, I totally agree with you. Sometimes a business owner can't take care and manage his money properly, so he needs to hire employees who can be trusted. There is nothing wrong, as long as the employee was honest in carrying out his responsibilities.

 

[cherry123]

That's the truthSometimes a business owner can't take care and manage his money properly, the best bet will be to hire employees who can be trusted to take care of it

 

[SHAHID987]

I have very small business so I take all control over account section. I personally don't involve anyone to see the account position, others are doing their jobs and getting timely salaries.

 

[astutimeliana723]

I have very small business so I take all control over account section. I personally don't involve anyone to see the account position, others are doing their jobs and getting timely salaries.

That's true, I agree with you. Some business owners prefer to manage their own accounts. As you do, it is a good thing. As long as he can manage it well.

 

[Niyi Briggs]

I think it depends on you knowing the kind of person that you are. If you know you are not disciplined with money, please let someone else manage the business funds.

 

[IB D]

As a business person, I handover my business account to be managed by my sister. That's because she is prudent with money. I am not a very good funds manager.

 

[Heatman]

I have a staff in my business that is in charge of money. She keeps account of income and disburses my salary. I took this measure to make me keep my eyes from business money and refrain from spending it. Do you think it is a good approach?

Yes of course, it's the best thing to do when it comes to being the one who manages your business account. If you have a good business manager, you can give him or her access to the account.

 

[Shavkat]

In my view, the business owner needs to know the financial part of his or her business. Although the financial concern can be handled by an accounting firm, which we did before.

 

[Stardom22]

I think this is a great idea. However you should use the person that you trust so much. Nowadays most people are not trustworthy and that can result to losses of your business if not handled very careful.

 

[IB D]

Yes of course, it's the best thing to do when it comes to being the one who manages your business account. If you have a good business manager, you can give him or her access to the account.

Business manager? I can't do that. Those guys can easily throw away morality and run away with your money. I think a prudent family member is best.

 

[Springtime]

It is a good idea to have an accountant to take care of the finance of the company. The business owner can focus on developing the business. That said, the accountant must be a trustworthy and reliable person. And financial reports should be submitted to the business owner on a monthly basis. If possible, the owner should also employ the service of an auditor to counter check the work of the accountant.

 

[IB D]

He would definitely know the financial part as every transaction is reported to him. He doesn't just manage the money.

In my view, the business owner needs to know the financial part of his or her business. Although the financial concern can be handled by an accounting firm, which we did before.

 

[Shavkat]

I think this is a great idea. However you should use the person that you trust so much. Nowadays most people are not trustworthy and that can result to losses of your business if not handled very careful.

I agree. It happens to our family business before. My old man asked his younger brother to stay and check the business as much as possible. For not being concerned, he let the secretary uses the bank checks without any approval.

 

[IB D]

That's the danger of lt all. it must be someone that you trust. If not, the person would see it as weakness and use it to clear your account.

I agree. It happens to our family business before. My old man asked his younger brother to stay and check the business as much as possible. For not being concerned, he let the secretary uses the bank checks without any approval.

 

[nomad]

I have full control over the finances, I do not allow another person to work on the finance department as I am afraid of embezzlement. I also avoid using my business money as my personal income

 

[Bisolami]

I have a staff in my business that is in charge of money. She keeps account of income and disburses my salary. I took this measure to make me keep my eyes from business money and refrain from spending it. Do you think it is a good approach?

It is a good approach if the person doesn't trust anyone. This is normal

 

[Reedex]

The size of the business will determine if the business owner would be in charge of the business account.

 

[uptrendfinancialsignal]

The size of the business will determine if the business owner would be in charge of the business account.

If it is a very big business it will be very difficult for the owners of the business to manage it all alone.