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    3 Replies Latest reply on Dec 5, 2009 12:36 PM by envisionary

    business checkbook alternative

    jcooper12 Wayfarer
      Hello everyone,

      If someone purchases an item from my website via credit card in full for $30 and I don't have it in stock. So I use my business checking debit card to buy it from my wholesalers website because sending a business check will take to long. I then get the item and send it to my customer. Is this alright to do? And how would I enter this type of transaction into my accounts and which accounts would be affected. Its not your typical sale that involves inventory, or atleast I don't think it is because it was not in my inventory. Would there be any recording in the inventory for this? It would take a week for the product to get to my location and about a week to send it out to the customer, also mywebsite would say please allow 2 to 3 weeks for shipping. Thanks

      Jason C
        • Re: business checkbook alternative
          LUCKIEST Guide
          business checkbook alternative

          Jason, Do you have an Accountant?? How long have you been in business??
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            • Re: business checkbook alternative
              jcooper12 Wayfarer
              I'm planning on starting an online business. Yes I plan to get an accountant. I just would like to know if there is anything wrong with using visa to purchase online for large purchases to get most of my products for resale and not send a paper business check. Maybe I should have made myself more clear.
                • Re: business checkbook alternative
                  envisionary Wayfarer
                  Jason,

                  There is nothing wrong with making your purchases with your business debit card instead of a paper check. I would just point out that if you are purchasing inventory you want to be very careful that you are using your business account and not your personal account unless you are a dba or sole proporietorship. When it comes to the tax man, you want to have your ducks in a row where your business expenditures are concerned.

                  Let me also give you a kudos for using a debit card rather than a credit card. That is a great practice to use when starting your business to avoid too much debt. Try to stick with that until you get some good positive cash flow.

                  Congrats on the business and hope this helps!