22 posts tagged with "small business"

Choosing a credit card processor is part math, part operations. The right partner simplifies your workflow, while the wrong one can slowly bleed your margins through hidden fees and create bookkeeping nightmares. Transaction fees, payout timing, hardware costs, contracts, and data export quality all affect your bottom line—and your accounting workflow. This guide highlights popular U.S. options in 2025 and adds Beancount-friendly tips so you can keep your ledger clean from day one.

All pricing snapshots below are published U.S. rates as of September 2025 and may vary by plan, industry, and transaction volume. Always confirm current pricing on the provider’s official site.

How to Choose: A Quick Framework​

Before diving into brand names, use this framework to narrow your search. Your business's unique transaction profile is the most important factor.

• Transaction Mix

  • Mostly in-person, low average ticket: Your priority is speed and simplicity at the point of sale. Favor simple flat-rate POS systems like Square, Zettle, Clover, or Chase.
  • Mostly online/SaaS or multi-country: You need robust APIs, international payment methods, and developer-friendly tools. Look at Stripe, Adyen, or Braintree.
  • $30k–$100k+ monthly volume with a stable mix: At this scale, flat-rate pricing becomes expensive. It's time to consider interchange-plus (Helcim, Dharma) or membership (Stax, Payment Depot) models to lower your effective rate.

• Total Cost of Ownership (TCO) Don't just look at the advertised percentage. Calculate your effective rate by combining the percentage fee, fixed cents-per-transaction fee, monthly account fees, hardware costs, and potential chargeback fees. This gives you a true picture of your costs.

• Payout Cadence How quickly do you need your cash? A next-day deposit schedule versus a two-day rolling window (T+2) can significantly impact your cash-flow forecasting. We'll cover how to model this in Beancount below.

• Lock-In Avoid long-term contracts with hefty early termination fees (ETFs). Look for month-to-month billing and, crucially, the ability to easily export your transaction data via CSV or an API. Your data is your own; don't let a processor hold it hostage.

The Shortlist: Who It’s Best For​

Stripe — Best for Online-First and Platforms​

Stripe is the gold standard for internet businesses. Its excellent APIs, pre-built Checkout and Link components, robust subscription management, and global payment method support make it incredibly versatile. For physical sales, its Terminal line of hardware integrates seamlessly.

• Pricing Snapshot: Online transactions are typically 2.9% + 30¢ (domestic). In-person payments via Terminal are 2.7% + 5¢. International cards and currency conversion may incur surcharges.
• Payouts: Operates on a configurable, rolling schedule. Most U.S. businesses see funds available on a T+2 basis (two business days after the transaction).

Square — Best Turnkey POS for New Storefronts​

Square excels at getting new retail and service businesses up and running quickly. With a free and intuitive POS app, a simple hardware lineup, and fast onboarding, it's a favorite for cafes, boutiques, and service providers.

• Pricing Snapshot: In-person is 2.6% + 15¢, online is 2.9% + 30¢, keyed-in is 3.5% + 15¢, and invoices are 3.3% + 30¢.
• Payouts: Standard next-business-day transfers are free. For urgent cash needs, instant or same-day transfers are available for an additional 1.75% fee.

PayPal Zettle — Best “Micro-Merchant” Mobile POS​

Perfect for sellers at farmers' markets, pop-up shops, or conventions. Zettle offers low-cost entry hardware that integrates smoothly with the broader PayPal ecosystem, making it easy to manage funds alongside your online PayPal sales.

• Pricing Snapshot: In-person card transactions are 2.29% + 9¢. Keyed, invoice, and online transactions have separate rates.

Braintree (by PayPal) — Best for PayPal/Venmo + Cards Under One API​

Braintree is a developer-centric platform that allows businesses to accept credit cards, PayPal, Venmo, and other digital wallets through a single integration. It's a strong choice for e-commerce sites that want to offer customers a wide array of payment options.

• Pricing Snapshot: Standard rate for cards and most digital wallets is 2.89% + 29¢. Venmo is often 3.49% + 49¢. Discounts for non-profits and custom pricing for high-volume businesses are available.

Helcim — Best Transparent Interchange-Plus with Volume Discounts​

Helcim offers interchange-plus pricing with no monthly fee, making it an accessible option for businesses graduating from flat-rate models. Its pricing automatically gets cheaper as your processing volume increases, with clear tiers published on its site.

• Pricing Snapshot: Margins are typically around Interchange + 0.40% + 8¢ (card-present) and Interchange + 0.50% + 25¢ (card-not-present), with margins decreasing at higher volumes.

Dharma Merchant Services — Best Small-to-Mid B2B Interchange-Plus​

Dharma is known for its fair interchange-plus pricing and excellent support, with a focus on B2B transactions. It helps businesses qualify for lower Level 2 and Level 3 processing rates, which can lead to significant savings on corporate card transactions.

• Pricing Snapshot: Card-present is IC + 0.15% + 8¢, and e-commerce is IC + 0.20% + 11¢, plus a modest monthly fee.

Stax — Best Subscription (Membership) Pricing at Higher Volumes​

Stax uses a membership model: you pay a flat monthly subscription fee and in return get access to direct interchange rates with a "0% markup." This can be extremely cost-effective once your monthly volume is high enough to justify the subscription cost.

• Pricing Snapshot: Plans start at $99/month, with tiers based on annual processing volume.

Payment Depot — Membership Alternative to Lower Processing Costs​

Similar to Stax, Payment Depot offers interchange-plus rates under a membership model. It positions itself as a way for businesses to access wholesale processing rates without percentage markups, with an emphasis on no long-term contracts or early termination fees.

• Pricing Snapshot: Membership-style IC+ pricing. Plans are typically provided via a custom quote.

Shopify Payments — Best if You Already Run on Shopify​

If your business runs on Shopify, using Shopify Payments is a no-brainer. It's tightly integrated with your store, provides excellent fraud analysis tools, and enables the high-converting Shop Pay checkout. Using a third-party gateway on Shopify incurs additional fees.

• Pricing Snapshot: Rates are tied to your Shopify plan. Online fees range from ~2.5% to 2.9% + 30¢, while in-person rates are around 2.4% to 2.6% + 10¢ on higher tiers.

Toast — Best All-in-One for Restaurants​

Toast is purpose-built for the food and beverage industry. Its platform combines durable, restaurant-grade hardware with software for kitchen display systems (KDS), online ordering, inventory, and even payroll add-ons.

• Pricing Snapshot: A pay-as-you-go plan is available at ~3.09%–3.69% + 15¢. If you pay for hardware upfront, rates can be as low as 2.49% + 15¢ (card-present) and 3.50% + 15¢ (card-not-present).

Clover (Fiserv) — Best POS Hardware Variety (Retail/Service)​

Clover offers one of the broadest hardware lineups in the industry, from the mobile Go and Flex to the countertop Mini and Station. This variety makes it a flexible choice for retail stores and service businesses that need a specific form factor.

• Pricing Snapshot: Rates vary widely by plan and device, but in-person rates are commonly advertised as low as 2.6% + 10¢.

Lightspeed Payments — Best Mid-Market Retail POS with Deep Inventory​

Lightspeed is a powerhouse for retail businesses with complex inventory needs. Its integrated payments system works seamlessly with its advanced POS features, providing a unified platform for sales and stock management.

• Pricing Snapshot: A frequently cited U.S. reference rate is ~2.6% + 10¢ for in-person and ~2.9% + 30¢ for card-not-present transactions.

Authorize.Net — Best Standalone Gateway (Bring Your Own Merchant Account)​

A long-standing and trusted name, Authorize.Net is a payment gateway that connects your website to your merchant account. This is for businesses that have already negotiated a direct merchant account with an acquiring bank and just need the technology layer to process online payments.

• Pricing Snapshot: All-in-one: $25/mo + 2.9$25/mo + 10¢ per transaction, plus a small daily batch fee.

Chase Payment Solutions — Best Bank-Integrated POS & Fast Deposits​

For businesses that bank with Chase, their payment solutions offer a compelling advantage: the potential for same-day deposits into a Chase business checking account at no extra cost. This tight integration simplifies cash flow management.

• Pricing Snapshot: Card-present is 2.6% + 10¢, while keyed-in sales and payment links are 3.5% + 10¢.

Beancount: Model Your Payouts and Fees Cleanly​

Plain-text accounting shines when you can model real-world financial flows precisely. For payment processors, the key is using a "clearing account" to track money from the moment of sale until it lands in your bank. This preserves your gross revenue figures and makes reconciliation trivial.

Example Chart of Accounts:

Assets:Bank:Operating
Assets:Processors:Stripe      ; A clearing account for each processor
Income:Sales
Expenses:ProcessingFees
Liabilities:SalesTax:Payable

Pattern A: “Net Deposit” Processors (Most Flat-Rate)​

Most processors batch your sales, subtract their fees, and deposit the net amount. Your job is to record the gross sale first, then account for the deposit and the fee. A $100 sale with a$2.90 fee becomes:

2025-09-08 * "Online order #8421"
  Assets:Processors:Stripe               100.00 USD
  Income:Sales                          -100.00 USD

2025-09-09 * "Stripe payout"
  Assets:Bank:Operating                   97.10 USD
  Expenses:ProcessingFees                  2.90 USD
  Assets:Processors:Stripe               -100.00 USD

Why this pattern is essential: It correctly records $100 in `Income:Sales` and$2.90 in Expenses:ProcessingFees. This is critical for analyzing your true gross revenue and is exactly what you need to reconcile your books with the processor's 1099-K form at year-end.

Pattern B: “Daily Batch” with Line-Item Fees​

Some POS systems (like Toast or Clover) will show a single large deposit for a day's sales, with fees deducted as separate line items in their report. The principle is the same: balance the clearing account to zero.

2025-09-08 * "Toast batch — store #1"
  Assets:Bank:Operating                  1,943.55 USD
  Expenses:ProcessingFees                   56.45 USD
  Assets:Processors:Toast               -2,000.00 USD

Pattern C: “Membership” Pricing (Stax/Payment Depot)​

For membership models, the monthly subscription is a separate operating expense. You book it directly, while the much smaller per-transaction fees are handled using Pattern A or B.

2025-09-01 * "Stax subscription"
  Expenses:ProcessingFees                  99.00 USD
  Assets:Bank:Operating                   -99.00 USD

Importing & Reconciling Tips​

• One Clearing Account Per Processor: Create Assets:Processors:Stripe, Assets:Processors:Square, etc. If you have multiple locations, consider Assets:Processors:Toast:Store1 to isolate activity.
• Mind the Payout Cadence: A sale on Friday might not hit your bank until Tuesday. This lag is why the clearing account is so important for accurate cash forecasting.
• Automate Your Imports: Every provider offers CSV exports. Write simple Python scripts or use Fava's importer functionality to map the columns (date, gross amount, fees, net deposit) to Beancount transactions.
• Handle Sales Tax Correctly: Sales tax is not income. Split it out to Liabilities:SalesTax:Payable at the time of sale. Most POS reports provide this breakdown.
• Book Chargebacks Promptly: When a chargeback occurs, the processor debits your account. Book a reversal to Income:Sales for the sale amount and a separate entry to Expenses:ProcessingFees for the chargeback fee.

Quick Comparison Snapshot​

Which One Should a Beancount User Pick?​

• For the simplest setup with daily auto-payouts: Start with Square or Zettle. Their reports are clean and easy to import.
• For developer work, subscriptions, or multiple payment methods: Stripe or Braintree are your best bets due to their powerful APIs.
• If you process ≥$30k/month with a stable card mix: It's time to do the math. Price out Helcim (IC+) versus Stax/Payment Depot (membership) to calculate your true effective rate.
• For a restaurant POS: Compare Toast and Clover/Lightspeed, paying close attention to contract terms and hardware financing.
• If you're already on Shopify: Use Shopify Payments to avoid paying extra gateway fees.
• For same-day deposits into your operating account: Chase QuickAccept linked to a Chase business checking account is the clear winner.

Final Beancount Checklist​

• Create Assets:Processors:* clearing accounts for each processor and location.
• Always record gross sales and separate fees, even if your bank deposit is a net amount.
• Match payout dates and batch IDs from the processor's CSV report to your clearing account transactions.
• Automate your workflow by writing small importers to map CSV columns to Beancount postings.
• Review chargebacks weekly and post the reversal and fee on the day they are debited by the processor.

If you keep immaculate books in Beancount, you already think in systems. You appreciate precision, automation, and a single source of truth. This guide turns that disciplined mindset into an 11-step, practical workflow for establishing and growing business credit. We'll map each critical step to simple, automatable Beancount habits, transforming your ledger from a historical record into a forward-looking tool for financial strength.

The 2025 Quick Primer: What Actually Matters​

The world of business credit can feel opaque, but the principles for 2025 are straightforward. Here’s what you need to know before you start.

First, separate your identities. The absolute foundation of business credit is a distinct legal entity (like an LLC or corporation) with its own, separate bank accounts. Co-mingling personal and business funds is the fastest way to be denied business credit.

Next, get an Employer Identification Number (EIN). This is your business's social security number for tax purposes. It is always free and you should apply for it directly with the IRS—never pay a third-party site for this service.

Then, understand how you’ll be scored. Unlike consumer credit's unified FICO score, business credit is measured by several bureaus, each with its own methodology:

• Dun & Bradstreet PAYDEX® (1–100): This score is almost entirely driven by your payment history with vendors and suppliers. A score of 80 is considered on-time, while anything higher indicates you pay your bills early.
• Experian Intelliscore Plus (1–100): This is a predictive score that forecasts the likelihood of serious delinquency. It analyzes payment trends, public records, and other company data.
• FICO® SBSS (Small Business Scoring Service): This score is critical for accessing SBA 7(a) "Small Loans." As of 2025, the Small Business Administration (SBA) lists a minimum prescreen score of 165.

Finally, know that monitoring is fragmented. Scores differ by bureau, and accessing your full reports often costs money. Before paying for a report, try to verify which score a specific lender or vendor uses.

Heads-up: A quick note on identifiers. If you plan to sell to the U.S. federal government, the Unique Entity ID (UEI) replaced the D-U-N-S number in the SAM.gov system on April 4, 2022. However, for building your business credit file with Dun & Bradstreet, the D-U-N-S number is still essential.

The 11 Steps (and the Beancount Moves That Make Them Stick)​

1. Formalize the Entity and Separate Money Flows​

This is the non-negotiable first step. Form a legal entity, open a dedicated business checking account, and keep personal funds out. This creates a clean financial history that credit bureaus can track.

Beancount Move: Your ledger should explicitly reflect this separation from day one. Open distinct accounts for the business and document initial capitalization cleanly.

2025-01-01 open Assets:Bank:Checking:Business      USD
  institution: "Bank of Example"
2025-01-01 open Equity:Owner:Contributions         USD

2025-01-05 * "Owner Capitalization"
  Assets:Bank:Checking:Business        10000 USD
  Equity:Owner:Contributions

2. Get Your EIN (Free) and File It in Your Repo​

Apply directly at IRS.gov. Once you receive your EIN confirmation letter (SS-4), store a digital copy in a docs/ directory alongside your ledger. This keeps critical identity documents version-controlled and accessible.

Beancount Move: Use metadata at the top of your ledger file to record the EIN and link to the source document.

; organization-id: "EIN 12-3456789"
; documents: "docs/tax/SS-4.pdf"

Tip: Beware of search-ad "EIN helpers" that charge fees or harvest your data. Always verify you are on a .gov domain before entering sensitive information.

3. Claim Your D-U-N-S® Number​

A D-U-N-S number links your company to its Dun & Bradstreet credit file, which vendors and lenders use to assess your reliability. Go to the D&B website to claim or update your company's record for free.

Beancount Move: Just like your EIN, add your D-U-N-S number to your ledger's metadata. You can also link to an internal checklist for vendor onboarding to ensure you're always providing consistent information.

; duns: "123456789"
; vendor-onboarding-checklist: "docs/credit/dnb-checklist.md"

4. Open a Business Credit Card and Use It Prudently​

A revolving business credit card is a powerful tool, as issuers often report your payment history to business bureaus. Use it for regular expenses, keep your utilization modest (ideally under 30%), and never, ever miss a payment.

Beancount Move: Model your credit card as a liability. Use metadata to note which bureaus it reports to. Track purchases and, crucially, payments from your business checking account.

2025-01-01 open Liabilities:Credit:BizCard:BankCo  USD
  reports_to: "Experian, Equifax (varies)"

2025-02-04 * "Laptop (business card)"
  Assets:Equipment:Computers          1600 USD
  Liabilities:Credit:BizCard:BankCo

2025-02-15 * "BizCard payment (keep util <30%)"
  Liabilities:Credit:BizCard:BankCo    1200 USD
  Assets:Bank:Checking:Business       -1200 USD

5. Establish Vendor Net-30 Trade Lines That Report​

This is the fastest path to building a strong PAYDEX score. Find vendors that offer payment terms (e.g., Net-30) and confirm that they report your payment history to bureaus like D&B. Office supply, packaging, and shipping companies are common starting points.

Beancount Move: Track each vendor invoice in your Accounts Payable (Liabilities:AP). When you pay the invoice, record the transaction and consider adding a tag to track your payment habits.

2025-02-03 * "Acme Packaging — Net30"
  invoice: "INV-2025-023"
  Expenses:COGS:Packaging              525.00 USD
  Liabilities:AP:AcmePackaging

2025-02-27 * "Pay Acme INV-2025-023 (paid early)"
  Liabilities:AP:AcmePackaging         525.00 USD
  Assets:Bank:Checking:Business       -525.00 USD
  ; tag: net30-early

6. Pay on Time or Early to Target PAYDEX ≥ 80​

D&B explicitly maps a PAYDEX score of 80 to "prompt/on-time" payments. Scores above 80 signify early payments. If your cash flow allows, paying invoices 10–20 days before the due date can significantly boost your score.

Beancount Move: This is a process, not a transaction. Set up a recurring reminder (e.g., a cron job or a Makefile task) that queries your open Liabilities:AP accounts and flags invoices that are due in the next 30 days, prompting you to schedule payments early.

7. Keep Business Identity Consistent Everywhere​

Use the exact same legal name, address, phone number, and industry codes (like NAICS) across your bank accounts, IRS filings, insurance policies, and credit bureau profiles. Inconsistencies can lead to fragmented credit files or mismatches.

Beancount Move: Establish a single source of truth for this data in your ledger's top-level metadata.

; company-legal-name: "Acme Robotics, Inc."
; naics: "541511"
; address: "123 Market St, Springfield, ST 12345"

8. Monitor Your Business Credit and Dispute Errors​

Business credit reports are less standardized and regulated than consumer reports, making errors more common. Periodically pull your reports from the major bureaus and dispute any inaccuracies immediately.

Beancount Move: Maintain a directory for docs/credit/ where you store PDFs of your credit reports and any dispute correspondence. You can link to these documents directly from transactions that were misreported, creating an auditable trail.

9. Graduate to Bank Lines and SBA Options (When Ready)​

Once you have a solid history of on-time payments, you can approach banks for lines of credit or apply for SBA-backed loans. For SBA 7(a) Small Loans, lenders use the FICO SBSS score, and the current minimum prescreen is 165. Keep your personal credit clean as well, as it's often a factor.

Beancount Move: Use your ledger to track key financial metrics that lenders care about, like your Debt Service Coverage Ratio (DSCR) or cash buffer days. You can define these as custom metadata and run queries against your ledger to see if you meet a lender's covenants before you even apply.

10. Automate the Habits That Move Scores​

Good credit is the result of consistent habits. Set up autopay for at least the minimum payment on business credit cards. Schedule a weekly time block to run your A/P. Regularly review A/R aging to protect your cash flow. Systematize the behaviors that lead to good scores.

Beancount Move: Document your financial policies as metadata. This serves as a reminder and a checklist for your operations.

; policy:
; - autopay: "Liabilities:Credit:BizCard:BankCo:min"
; - payables-run: "weekly, Mondays"
; - target-utilization: "<30%"

11. Keep Learning Your Scores’ Dials​

Finally, understand what drives each score so you can focus your efforts:

• PAYDEX (D&B): Driven almost entirely by payment timeliness and the number of trade lines reporting.
• Intelliscore (Experian): Influenced by payment trends, public records (liens, judgments), and firmographics (age of business, industry risk).
• SBSS (FICO/SBA): A blended model using business credit, personal credit, and business financials. Used heavily for SBA 7(a) loans.

A Compact Beancount Starter for Credit-Building​

Here is a minimal credit.beancount file to get you started on tracking these activities in a structured way.

option "operating_currency" "USD"

; --- Accounts ---
2025-01-01 open Assets:Bank:Checking:Business      USD
2025-01-01 open Assets:Equipment                   USD
2025-01-01 open Liabilities:AP:Vendors             USD
2025-01-01 open Liabilities:Credit:BizCard:BankCo  USD
2025-01-01 open Expenses:COGS:Packaging            USD
2025-01-01 open Expenses:Office:Supplies           USD
2025-01-01 open Income:Sales                       USD
2025-01-01 open Equity:Owner:Contributions         USD

; --- Identity (metadata you can query) ---
; EIN: 12-3456789
; DUNS: 123456789
; NAICS: 541511
; address: "123 Market St, Springfield, ST 12345"

; --- Example workflow ---
2025-02-03 * "Acme Packaging — Net30" "Boxes for March"
  invoice: "INV-2025-023"
  vendor_duns: "987654321"
  Expenses:COGS:Packaging              525.00 USD
  Liabilities:AP:Vendors

2025-02-27 * "Pay Acme INV-2025-023 (early)"
  Liabilities:AP:Vendors               525.00 USD
  Assets:Bank:Checking:Business       -525.00 USD

2025-03-04 * "Laptop (business card)"
  Assets:Equipment                    1600.00 USD
  Liabilities:Credit:BizCard:BankCo

2025-03-15 * "BizCard payment (util <30%)"
  Liabilities:Credit:BizCard:BankCo    1200.00 USD
  Assets:Bank:Checking:Business       -1200.00 USD

Common Questions​

How many trade lines do I need to generate a D&B score? Dun & Bradstreet requires a sufficient number of verified trade experiences to generate a PAYDEX score. While there's no magic number, the key is having multiple vendors consistently reporting your on-time or early payments.

Where do I check my business credit scores? Each bureau (D&B, Experian, Equifax) offers paid access to reports on their websites. Some third-party services aggregate data, but they may not show the specific score a lender uses. Before paying, ask your potential lender or vendor which credit bureau and score they rely on.

I see sites charging money for an EIN. Are those legit? No. An EIN is always free from the official IRS.gov website. Avoid non-.gov domains and sponsored search ads that pose as official IRS pages; they are designed to charge you for a free service or collect your data.

Recap: The System in One Checklist​

1. Form an entity → Open a dedicated business bank account.
2. Get an EIN (free) → Store the SS-4 document in your code repository.
3. Claim your D-U-N-S number → Align your business identity across all systems.
4. Add a business credit card → Automate payments and keep utilization low.
5. Open 2–3 Net-30 vendor accounts that report → Pay them early to target a PAYDEX score of 80 or higher.
6. Monitor your reports → Dispute any and all inaccuracies with the bureaus.
7. When ready, approach lenders → Keep the SBA's SBSS prescreen minimum of 165 in mind as a benchmark for readiness.

Sources for Further Reading​

• U.S. Small Business Administration: On establishing business credit and the SBA 7(a) Small Loan SBSS minimum.
• IRS: On obtaining an EIN for free.
• Dun & Bradstreet: On PAYDEX scores and D-U-N-S numbers.
• Experian: On Intelliscore Plus and business credit basics.
• Investopedia: On monitoring business credit.
• GSA: On UEI replacing D-U-N-S in SAM.gov.

As a founder, you live and breathe your product, your customers, and your team. But are you just as connected to the financial pulse of your business? Financial health can feel like a complex topic reserved for accountants, but it really comes down to four pillars: liquidity, profitability, insolvency, and operational efficiency.

This article provides a concise, founder-friendly checklist you can run monthly or quarterly to get a clear picture of where you stand. Best of all, it’s designed specifically for users of the plain-text accounting tool Beancount, showing you exactly where to look and what to track.

Beancount Tip: Fava, the web interface for Beancount, is your command center for this checklist. Its built-in Income Statement, Balance Sheet, and Holdings reports, combined with its query capabilities, provide everything you need to check these metrics fast.

The 12-Question Financial Health Check​

1) Do you have enough cash to sleep at night?​

• What to look at: Your cash reserve. The common rule of thumb is to hold 3 to 6 months of operating expenses in cash or highly liquid assets. Adjust this target based on your business’s volatility, seasonality, and growth plans.
• Why it matters: A healthy cash buffer allows your business to absorb unexpected shocks—a lost client, a market downturn, a supply chain delay—without resorting to expensive, reactive financing. It's the foundation of financial peace of mind.
• Where to check in Beancount: In Fava, navigate to the Balance Sheet and sum the balances in your Assets:Bank:* accounts, plus any short-term liquid investments you hold.

2) Is today’s liquidity solid?​

• What to look at: The Current Ratio (Current Assets / Current Liabilities). For an even stricter view, use the Quick Ratio (or "Acid Test"), which excludes inventory from current assets. A ratio above 1.0 is generally considered stable, but this varies by industry.
• Why it matters: These ratios gauge your ability to cover all your short-term obligations (like payroll and supplier bills) using only your short-term assets. They answer the critical question: "If we had to pay all our upcoming bills right now, could we do it without distress?"
• Where to check in Beancount: Your Balance Sheet in Fava provides all the necessary figures. To make this easy, ensure you are tracking Assets:Receivables, Assets:Inventory, and Liabilities:Payables in separate sub-accounts.

3) Are you consistently profitable?​

• What to look at: The Net Income on your Income Statement. More importantly, look at the trend. Is it positive and growing month-over-month or quarter-over-quarter?
• Why it matters: Profit is the engine of your business. It funds growth, attracts investment, and provides the ultimate cushion against downturns. Consistent profitability is the clearest sign of a sustainable business model.
• Where to check in Beancount: Go to the Income Statement in Fava. (Pro-tip: consider enabling Fava’s option to invert income signs, which many find more intuitive for reading financial reports.)

4) Are gross margins holding (or improving)?​

• What to look at: Your Gross Margin Percentage, calculated as (Revenue − COGS) / Revenue. COGS, or Cost of Goods Sold, is typically Beginning Inventory + Purchases − Ending Inventory.
• Why it matters: Gross margin reflects the profitability of your core product or service before overhead. A shrinking margin is a major red flag, often signaling issues with pricing power, discounting pressure, or rising supply costs.
• Where to check in Beancount: Categorize all direct costs under Expenses:COGS:*. You can then review your margin directly on Fava’s Income Statement.

5) Are you collecting on time? (DSO)​

• What to look at: Days Sales Outstanding (DSO), which is approximately (Accounts Receivable / Total Credit Sales) × Number of Days. This tells you the average number of days it takes to collect payment after a sale.
• Why it matters: A high DSO means your cash is trapped in your customers' bank accounts, tightening your own cash flow. Efficient collections are crucial for maintaining liquidity.
• Where to check in Beancount: Track invoices using metadata (e.g., invoice: "INV-123" and customer: "AcmeCorp"). You can then monitor the total A/R balance on Fava’s Balance Sheet.

6) Are you turning inventory efficiently?​

• What to look at: Inventory Turnover, calculated as COGS / Average Inventory. This measures how many times you sell and replace your inventory over a period. You can also track Days Sales of Inventory (DSI) to see how many days stock sits on the shelf.
• Why it matters: Slow-moving inventory ties up cash that could be used elsewhere. Conversely, turning inventory too quickly can lead to stockouts and lost sales. Finding the right balance is key.
• Where to check in Beancount: Use Beancount’s built-in inventory lot tracking to manage cost basis and quantities accurately. You can then review your current positions in Fava under Holdings.

7) How fast do you turn cash? (CCC)​

• What to look at: The Cash Conversion Cycle (CCC), calculated as DSI + DSO − DPO (Days Payable Outstanding). It measures the time between paying for inventory/supplies and receiving cash from customers.
• Why it matters: A shorter CCC means your business needs less external capital to operate and grow. A negative CCC (common in businesses like Dell or Amazon) means your customers pay you before you have to pay your suppliers—a powerful position for liquidity.
• Where to check in Beancount: With DSI and DSO already tracked, the final piece is DPO, which you can derive from your Liabilities:Payables account. Reviewing this trend quarterly is sufficient for most businesses.

8) Can you comfortably service your debt? (DSCR)​

• What to look at: The Debt Service Coverage Ratio (DSCR), calculated as Net Operating Income / Total Debt Service. Many lenders, including for SBA loans, look for a ratio of 1.25 or higher.
• Why it matters: This ratio signals your ability to make your loan payments from the cash your business generates. A healthy DSCR is critical for maintaining good relationships with lenders and avoiding breaches of loan covenants.
• Where to check in Beancount: Tag your loan payments (both principal and interest). You can use a query or manually summarize your total debt service for the period and compare it to your operating income from the Income Statement.

9) Is leverage appropriate for your business model?​

• What to look at: Your Debt-to-Equity ratio and overall Working Capital. Don't just look at a single number; analyze the trend over several quarters.
• Why it matters: Debt can be a powerful tool for financing growth, but it also introduces risk. The right level of leverage depends on your industry and risk tolerance. Are you taking on debt faster than you're growing equity?
• Where to check in Beancount: Fava’s Balance Sheet clearly lays out your total liabilities versus your total equity.

10) How concentrated is your revenue?​

• What to look at: The percentage of total revenue coming from your top 1, 3, or 5 customers. Many practitioners flag a risk when a single customer accounts for 10-20% or more of your revenue.
• Why it matters: Over-reliance on a few large clients magnifies churn risk and can weaken your pricing power. Diversification creates a more resilient business.
• Where to check in Beancount: This is where metadata shines. Add a customer: tag to every income posting. You can then use Fava's filtering or Beancount's query language to pivot revenue by customer.

11) Do your unit economics work?​

• What to look at: The Contribution Margin for each product or service line (Revenue - All Variable Costs).
• Why it matters: This tells you if scaling a particular offering will add cash to your bottom line or just burn through it faster. If the contribution margin is negative, you lose money on every additional sale.
• Where to check in Beancount: Track variable costs and revenue with specific metadata tags like product: "Widget-A" or channel: "Retail". This allows you to slice and dice your data with queries to calculate profitability at a granular level.

12) Are your books clean and audit-ready?​

• What to look at: Do you have clear documentation, a consistent chart of accounts, and are you retaining records for as long as the IRS recommends?
• Why it matters: Clean books reduce errors, dramatically speed up tax preparation, and are essential for securing financing or passing due diligence if you ever sell your company.
• Where to check in Beancount: Use invoice: and document: metadata, and leverage Fava’s ability to link directly to source documents (like PDFs of receipts or invoices) to keep proof organized and accessible.

A One-Hour Monthly Financial Ritual​

Turn this checklist into a routine. Block out one hour on the first business day of each month to perform this health check.

• (15 min) — Cash & Runway: Confirm your cash balance. Review upcoming major payables and expected inflows from receivables. Re-validate that you still have your 3–6 month buffer.
• (15 min) — P&L Review: Scan your net income and, most importantly, your gross margin trend. Did margins dip? If so, investigate whether it was due to discounting, returns, or higher COGS.
• (15 min) — Working Capital Check: Quickly glance at your DSO, inventory turnover, and DPO. Calculate your CCC. Identify any actions needed, like following up on late invoices or adjusting inventory reorder points.
• (15 min) — Solvency & Risk: Check your DSCR if you have debt. Review any changes in your Debt-to-Equity ratio and revenue concentration. Are any trends moving in the wrong direction?

Final Reminders​

• Benchmarks vary by industry. A "good" current ratio for a SaaS business is very different from that of a retail store. Compare your metrics against your own history first, and then against industry peers.
• Trends beat snapshots. A single data point can be misleading. Charting your key ratios over 6–12 months will reveal the true direction of your business.
• Plain-text wins. The beauty of Beancount is transparency. If a number on a report looks off, you can drill down to the exact plain-text transaction in seconds. This puts you in complete control of your own financial narrative.

Deciding where to park your small business's cash reserves can feel like a balancing act between earning a decent return and keeping funds accessible. The two most common, safest options are high-yield savings accounts and certificates of deposit (CDs). Each serves a distinct purpose, and choosing the right one depends on your timeline and liquidity needs.

Let's break down the differences, explore the nuances of FDIC insurance for businesses, and then dive into practical Beancount patterns to track it all cleanly.

TL;DR: The Quick Summary​

• Savings / Money Market Deposit Accounts (MMDAs): Best for liquid, everyday operating cash and near-term tax payments. Their interest rates are variable. While the Fed removed old withdrawal limits, banks can still set their own rules.
• Certificates of Deposit (CDs): Offer a higher, fixed yield if you can lock up cash for a specific term. Pulling money out early triggers a penalty.
• Safety First: Both are FDIC-insured up to $250,000 per depositor, per bank, per ownership category. The rules differ slightly for sole proprietorships versus corporations.
• Over the Limit?: For balances above $250,000, services like an Insured Cash Sweep (ICS) can spread your funds across multiple banks to maximize insurance coverage while you maintain a single banking relationship.
• Beancount Users: Skip to the end for journal patterns to model CDs, accrue interest, and handle early withdrawal penalties correctly.

What Each Account Does Well 🏦​

High-Yield Savings / Money Market Deposit Accounts (MMDAs)​

Think of these as your business's primary cash hub. They are designed for safety and accessibility.

• Liquidity: This is their main advantage. You can withdraw funds anytime without penalty. It's important to note that even though the Federal Reserve removed the old "six convenient withdrawals per month" rule (Regulation D) in 2020, individual banks are still free to impose their own transaction limits or fees. Always read your account's terms.
• Insurance & Safety: Savings and MMDAs at an FDIC-insured bank are covered. Don't confuse these with money market mutual funds offered by brokerages, which are investments and are not FDIC-insured.
• Best Use Case: Perfect for your operating cash buffer (3-6 months of expenses), funds set aside for near-term payroll or taxes, and your general emergency reserve.

Certificates of Deposit (CDs)​

CDs are a deal you strike with the bank: you agree not to touch your money for a set term (e.g., 3, 6, 12 months), and in return, the bank gives you a higher, fixed interest rate.

• Yield Certainty: The fixed rate is a key benefit, protecting you if market rates fall. The flip side is the penalty for early withdrawal. If you break a CD within the first six days, federal rules mandate a minimum penalty of seven days' simple interest. After that, the penalty is determined by the bank's own policy (e.g., three months of interest).
• Insurance & Safety: CDs carry the same FDIC insurance as savings accounts, up to the same $250,000 limit.
• Best Use Case: Ideal for cash you are certain you won't need for the duration of the term. This could be money earmarked for a tax payment nine months away or a reserve for a capital expenditure you plan to make next year. CD laddering—opening multiple CDs with staggered maturity dates (e.g., 3, 6, 9, and 12 months)—is a popular strategy to balance higher yields with regular access to cash.

FDIC Coverage: The Practical Bits for Businesses 🛡️​

The FDIC insurance rules are straightforward but have important distinctions for different business structures.

• The Headline Rule: You get $250,000 of coverage per depositor, per insured bank, per ownership category. All your deposits (checking, savings, MMDAs, CDs) within the same ownership category at a single bank are added together to determine your coverage.
• Sole Proprietorships: Business accounts for a sole prop are treated as the owner's individual accounts. They are combined with the owner's other personal single accounts at that same bank for one $250,000 insurance limit.
• Corporations, LLCs & Partnerships: These legal entities are insured separately from their owners' personal accounts. The business itself gets its own $250,000 of coverage per bank.
• Need More Coverage?: If your business holds more than $250,000, you don't have to juggle multiple banking relationships. Ask your bank about an Insured Cash Sweep (ICS). This service automatically distributes your deposits across a network of other FDIC-insured institutions, keeping all your funds insured while you manage them through your primary bank.

When a Small Business Should Favor Each Option 🤔​

• Choose a Savings/MMDA when…

  • Your cash flow is unpredictable or you have frequent, variable expenses.
  • You're building your 3–6 month operating expense buffer.
  • You need immediate access to funds and are willing to accept a variable interest rate.

• Choose a CD when…

  • You have a surplus of cash that you can confidently lock away for a fixed term.
  • You want to lock in a specific interest rate and protect your return from market fluctuations.
  • You are building a CD ladder to create a predictable schedule of maturing cash.

A blended approach is often best: keep your immediate operating cash in a high-yield savings account and place longer-term reserves into a CD ladder or short-term Treasuries.

Important Fine Print to Read 📝​

• Early Withdrawal Penalties: These are specific to each bank and will be disclosed in your CD agreement. The best way to avoid them is to plan your ladder carefully so you don't have to break a CD.
• Transaction Limits on Savings: Just because the federal rule is gone doesn't mean your bank won't charge you a fee after a certain number of monthly withdrawals. Check your account agreement.
• Taxes on Interest: Interest earned from both savings and CDs is generally taxable income in the year it's credited to your account. You'll receive a Form 1099-INT. If you pay an early withdrawal penalty, it is deductible. The penalty amount appears in Box 2 of your 1099-INT and is typically treated as a business expense.

Alternatives Worth Knowing​

• Treasury Bills (T-Bills): These are short-term loans to the U.S. government that mature in 4 to 52 weeks. They are considered one of the safest investments in the world, backed by the full faith and credit of the U.S. government (not FDIC insurance). They are highly liquid and can be a great option for cash reserves exceeding FDIC limits.
• Money Market Mutual Funds (MMFs): Offered by brokerage firms, these are investment products, not bank deposits, and are not FDIC-insured. They invest in high-quality, short-term debt and aim to keep a stable value of $1 per share, but this is not guaranteed.

A Decision Cheat-Sheet ✅​

Beancount: How to Model Savings and CDs 💻​

For those of us managing our business finances with plain-text accounting, here are some simple, effective patterns for tracking these accounts in Beancount.

1) Chart of Accounts​

First, ensure you have the necessary accounts. Adjust the names to fit your own chart.

Assets:Bank:Checking
Assets:Bank:Savings
Assets:Bank:CD:12M              ; Create a unique account for each CD
Assets:InterestReceivable       ; Optional, for monthly accruals
Income:Interest:Bank
Expenses:Bank:EarlyWithdrawalPenalty
Documents:Bank                  ; To link statements and agreements

2) Open and Fund a CD​

When you open a CD, it's a simple transfer from one asset account to another.

; Open a 12-month CD for $50,000
2025-01-15 * "Open 12M CD @ fixed rate"
  Assets:Bank:CD:12M              50,000.00 USD
  Assets:Bank:Checking           -50,000.00 USD
  document: "Documents:Bank/CD-Agreement-2025-01-15.pdf"

3) Recognize Interest: Two Methods​

Option A: Recognize Interest Only When Paid (Simple)​

If your bank credits all interest at maturity, this is the easiest method.

; CD matures; principal + interest paid to checking
2026-01-15 * "CD matured; interest credited"
  Assets:Bank:Checking              52,375.00 USD
  Assets:Bank:CD:12M               -50,000.00 USD
  Income:Interest:Bank             -2,375.00 USD

Option B: Accrue Interest Monthly (Better for Reporting)​

For more accurate monthly financial statements, you can accrue the interest earned each month.

; Monthly accrual (illustrative amount)
2025-02-15 * "Accrue CD interest"
  Assets:InterestReceivable            197.40 USD
  Income:Interest:Bank               -197.40 USD

; At maturity, reverse the receivable when the cash arrives
2026-01-15 * "CD matured; settle accrued interest"
  Assets:Bank:Checking              52,375.00 USD
  Assets:Bank:CD:12M               -50,000.00 USD
  Assets:InterestReceivable        -2,372.80 USD
  Income:Interest:Bank                 -2.20 USD   ; true-up for rounding

4) Early Withdrawal and Penalty​

Recording a penalty requires an extra posting to an expense account. This keeps your reporting clean and makes tax time easier.

; Break CD early; bank pays back principal plus net interest after penalty
2025-06-10 * "Early CD redemption; penalty applied"
  Assets:Bank:Checking              50,900.00 USD
  Assets:Bank:CD:12M               -50,000.00 USD
  Income:Interest:Bank             -1,200.00 USD
  Expenses:Bank:EarlyWithdrawalPenalty   300.00 USD
  document: "Documents:Bank/1099-INT-2025.pdf"  ; Box 2 shows the penalty

5) High-Yield Savings Interest and Reconciliation​

Recording interest from a savings account is straightforward. Use a balance assertion to confirm your books match the bank statement.

; Monthly interest posted to savings
2025-03-31 * "Monthly interest - Savings"
  Assets:Bank:Savings                   185.23 USD
  Income:Interest:Bank                -185.23 USD

; Reconcile with the month-end statement
2025-03-31 balance Assets:Bank:Savings  150,185.23 USD

Tip: Always attach digital copies of your statements and CD agreements using the document: metadata tag. At tax time, you can easily search for Expenses:Bank:EarlyWithdrawalPenalty and verify the amount against Box 2 of your 1099-INT.

Final Thoughts: A Simple Cash Policy​

• Segment Your Cash: Keep your runway plus 1–2 months of operating expenses in a liquid Savings/MMDA. Place reserves for the next 3–12 months in a CD ladder or T-Bills.
• Mind Your Insurance: Keep balances for each legal entity under the $250k limit per bank, or use an ICS service.
• Avoid Surprises: Read the fine print on withdrawal rules and CD penalties before you commit your cash.
• Stay Tax-Aware: Remember that interest is taxable and early-withdrawal penalties are deductible. Consult with your CPA to ensure you're handling them correctly.

This article is for educational purposes and does not constitute financial or tax advice. Please consult with a qualified professional for guidance specific to your business.

Turn one messy ledger into a calm, cash‑confident business in 30 days—using plain‑text accounting.

TL;DR​

• Separate, simplify, and lock your books with a lean chart of accounts, consistent imports, and automated balance checks.
• Surface what matters—COGS, overhead, cash runway—via quick bean-query reports.
• Cut the noise (unused subscriptions, duplicate tools) and codify good habits (weekly reconcile, monthly close, receipts attached).
• Make tax season boring by keeping statements, receipts, and balances verifiable in one place.

Why a “Detox”?​

Financial clutter in a small business isn't just messy—it's expensive. It hides wasteful spending, obscures your true profitability, and turns tax season into a frantic scavenger hunt. A financial detox is a focused, 30-day reset: you identify what moves (and leaks) money, remove the complexity, and then institutionalize simple, repeatable routines to keep it clean.

Beancount is the perfect tool for this because it’s transparent, scriptable, and verifiable. Unlike black-box software, a plain-text ledger means every number is explainable. Every check and balance can be automated with directives and queries, creating a self-auditing system that forces clarity. This guide will walk you through a four-week plan to achieve just that.

Week 0 — Set Your Baseline​

Before you can clean up, you need a solid foundation. This week is about defining the structure of your financial world.

Create a Lean Chart of Accounts​

Your chart of accounts is the skeleton of your financial system. The goal here is minimalism. Don't create an account for every possible expense you might have. Start with the essentials you use today; you can always add more later. A cluttered chart of accounts encourages miscategorization and makes high-level analysis difficult.

Here’s a simple, effective starting point:

; Core entities
2025-01-01 open Assets:Bank:Checking           USD
2025-01-01 open Assets:Bank:Savings            USD
2025-01-01 open Liabilities:CreditCard:Business USD
2025-01-01 open Income:Sales
2025-01-01 open Expenses:COGS
2025-01-01 open Expenses:Overhead:Rent
2025-01-01 open Expenses:Overhead:Utilities
2025-01-01 open Expenses:SaaS
2025-01-01 open Equity:Opening-Balances

Lock Balances You Can Verify​

The most powerful feature in plain-text accounting is the ability to assert reality. A balance directive tells Beancount: "On this date, this account had exactly this much money." If it doesn't, Beancount will raise an error. This is your primary safety net.

When starting out, use pad in combination with balance to initialize your accounts from a bank statement. The pad directive creates a transaction that forces the account to the correct starting balance, booking the difference to an equity account.

; Initialize from statements
2025-01-01 pad     Assets:Bank:Checking      Equity:Opening-Balances
2025-01-01 balance Assets:Bank:Checking      12345.67 USD

A word of caution: Use pad sparingly. It's for getting started cleanly, not for papering over recurring reconciliation mistakes.

Week 1 — Separate and Simplify Flows​

With a structure in place, it's time to clarify how money moves through your business.

Keep Business ≠ Personal​

This is the golden rule of small-business finance. Co-mingling funds is a recipe for confusion and tax-time headaches.

• Maintain one dedicated business bank account and one business credit card.
• Mirror this separation in your ledger: Assets:Bank:Business:Checking, Liabilities:CreditCard:Business.
• If you pay yourself, book it as a distribution to Equity:Owner-Draws. Never categorize personal expenses directly from business accounts.

Standardize Vendor Categories​

Do you pay for AWS, Google Cloud, and Vercel? Don't create three separate accounts. Map them all to a single, logical category like Expenses:Cloud. Avoid creating micro-accounts you won't actually analyze. The goal is to see patterns, not to track every single vendor with its own account.

Week 2 — Automate Inputs and Receipts​

Manual data entry is slow, error-prone, and unsustainable. This week is about building a machine to feed your ledger reliably.

Build a No-Drama Import Path​

Beancount's import framework lets you teach it how to read CSV or OFX files from your bank and automatically generate transactions. Invest the time to set this up once, and you'll save hundreds of hours down the line. Keep your importer rules in version control (like Git) so your system is repeatable and backed up.

• Start with Beancount’s official Importing External Data guide.
• For a more interactive workflow, consider a tool like beancount-import, which provides a web UI for semi-automatic matching.
• Many users rely on the built-in ingest or newer beangulp frameworks to build their custom importers. Pick one and stick with it for consistency.

Attach Documents Where They Belong​

A transaction without a receipt is an unsubstantiated claim. Beancount and its web interface, Fava, make it trivial to link source documents to entries, creating an unshakeable audit trail.

You have two great options:

1. Documents Folder + Directive: Store all your receipts and statements in a dedicated folder. Then, link a file to a transaction using the document directive.
2. Drag-and-Drop in Fava: Simply drag a PDF or image file onto a transaction in the Fava UI. Fava automatically stores the file and inserts the correct document directive into your ledger file for you.

; In your main ledger file, tell Fava where your documents live
option "documents" "/home/acme/docs"

; Link a receipt to a specific transaction posting
2025-08-07 * "Figma" "Monthly Subscription"
  Assets:CreditCard:Business    -12.00 USD
  Expenses:SaaS                 12.00 USD
    document: "receipts/figma-2025-08-07.pdf"

Week 3 — See the Truth (Fast Queries You’ll Reuse)​

Your ledger is now clean and fed with data. It's time to ask it important questions. Fire up the bean-query command-line tool to get instant answers.

1) Where’s My Cash?​

Get a quick snapshot of your liquid assets.

bean-query business.beancount 'BALANCES FROM year = 2025 AND (account ~ "Assets:Bank" OR account ~ "Liabilities:CreditCard")'

This gives you an immediate, real-time view of your cash position without logging into multiple bank portals.

2) What Am I Spending On Overhead vs. COGS?​

Understand where your money is really going. Are you spending more on non-essential overhead or on the costs directly tied to delivering your product (Cost of Goods Sold)?

SELECT
  account,
  units(sum(position))
WHERE
  account ~ "^Expenses:(Overhead|COGS)" AND year = 2025
GROUP BY
  account
ORDER BY
  account

This query separates your core operational costs from your administrative burden, a critical insight for profitability.

3) Which Subscriptions Look “Zombie”?​

Find recurring, small-dollar expenses that often fly under the radar. These "zombie" subscriptions can bleed your cash flow dry.

SELECT
  payee,
  COUNT(*) AS num_transactions,
  SUM(number) AS total_spent
WHERE
  account ~ "^Expenses:SaaS" AND date >= '2025-01-01'
GROUP BY
  payee
ORDER BY
  num_transactions DESC,
  total_spent DESC

This query instantly reveals vendors you pay frequently. If you see one you don't recognize or no longer need, it's time to cancel.

Week 4 — Tidy and Lock the System​

The final week is about building the habits and guardrails that keep your finances clean for good.

Put Simple Budgets in Place​

Fava can read budget directives from your ledger and display helpful progress bars in its reports, showing you if you're on track. This provides a gentle, constant reminder of your spending goals.

; Cap SaaS spending at $100 per month
2025-01-01 custom "budget" Expenses:SaaS "monthly" 100.00 USD

Set these for key variable expense categories like software, advertising, or contractors to notice drift before it becomes a problem.

Close the Month, Every Time​

Establish a simple, non-negotiable monthly closing process:

1. Reconcile: For every bank and credit card account, add a balance assertion matching the final number on your monthly statement.
2. Attach: Attach the PDF statement itself to the balance entry using the document directive.
3. Report: Run your three saved queries (cash, overhead/COGS, subscriptions) and paste the outputs into a short monthly review note.

The balance assertion is an automatic tripwire. If your ledger doesn't match the bank statement, Beancount will throw an error, telling you exactly where to look for the discrepancy.

Make Tax Season Boring (In a Good Way)​

By following this system, you transform tax preparation from a crisis into a simple reporting exercise.

• Receipts are attached to transactions, so there’s no frantic search. In Fava, you’re one click away from the source document for any expense.
• Tax-relevant items can be tagged (e.g., #tax-deductible), allowing you to pull a clean report with bean-query for your accountant.
• Year-end balances are locked and verified with balance assertions, giving you and your preparer confidence in the numbers.

A 30-Day Checklist (Print This)​

• Day 1–3
  • Create a minimal chart of accounts.
  • Add pad + balance for each bank/card using the latest statements.
• Day 4–10
  • Set up one importer pipeline and commit your rules to version control.
  • Backfill 90 days of transactions; run a first BALANCES snapshot.
• Day 11–15
  • Standardize vendors to their respective accounts (SaaS, Cloud, Shipping, etc.).
  • Attach statement PDFs for the reconciled periods; confirm they appear in Fava.
• Day 16–20
  • Run the overhead vs. COGS query; fix any miscategorized items.
  • Run the subscription frequency query; cancel or consolidate unused services.
• Day 21–25
  • Add one or two budget caps for key variable expenses via custom "budget".
  • Save your three most important bean-query commands to a script for easy reuse.
• Day 26–30
  • Reconcile all accounts with month-end balance assertions.
  • Write a short "monthly close" note summarizing key numbers and linking to documents.

Common Snippets You’ll Reuse​

A Clean Expense Posting

2025-08-05 * "Figma" "Pro plan"
  Expenses:SaaS               12.00 USD
  Assets:Bank:Checking       -12.00 USD

Balance Assertion from a Statement

2025-09-01 balance Assets:Bank:Checking  8423.17 USD

Budget Guardrail for Rent

2025-01-01 custom "budget" Expenses:Overhead:Rent "monthly" 2500.00 USD

Keep It Simple, Keep It Scripted​

The philosophy of a Beancount-powered financial detox is simple:

• Script what you repeat: Automate imports and reporting.
• Let assertions fail loudly: They are your safety rails, not an inconvenience.
• Prefer fewer, clearer accounts over perfect, granular categorization.

Adopt these habits, and your business will run on tight feedback loops: cash visibility daily, spending drift visible weekly, and a truly boring year-end. That's the clarity and control this detox is designed to deliver.

References & Further Reading​

• Beancount Query Language (beancount)
• Importing External Data with Beancount (beancount)
• Fava Budgets (custom "budget" …) (Fava)
• Documents & document Directive (beancount, Fava)
• Balance and Pad Directives (beancount)

This post is for educational purposes only and is not tax or legal advice.

Picking the “best” business bank account is a lot like picking a software framework: the right answer depends entirely on the job, your specific constraints, and what you’ll need six months from now. There is no single winner. Instead of a ranked list, what you really need is a guide that matches your business model to the right banking tool.

Below is a practical, up-to-date guide to choosing the right account for your LLC. We'll explore eight strong options grouped by use case, not by hype. Where relevant, I’ll note the key fees, APY, and operational quirks you’ll actually feel in your day-to-day work.

Heads‑up on fintechs vs. banks: Several popular options below are financial-technology platforms that work with FDIC-insured partner banks; they aren’t themselves banks. This is a crucial distinction. Always read the fine print on how your funds are covered, especially regarding deposit sweep programs designed to extend insurance.

What to Look For (The Fast Checklist)​

Before diving into specific names, know what to look for. These five factors will guide 90% of your decision.

• Monthly Cost & Waivers: The most obvious factor. A '$15' monthly fee might not sound like much, but it adds up. Look for accounts with a '$0' monthly fee or clear, achievable ways to waive it, such as maintaining a minimum balance or meeting transaction activity goals. Pay close attention to caps on free transactions or cash deposits, as exceeding them can trigger surprise charges.
• Cash vs. Digital Operations: How does money actually move in your business? If you handle physical cash (e.g., retail, food service), convenient and low-cost cash deposits are non-negotiable. If your operations are purely digital, prioritize features like seamless ACH and wire transfers, unlimited virtual cards, and easy-to-create sub-accounts for budgeting.
• APY & Treasury Management: Don't let your operating cash sit idle. Some modern business checking accounts pay a competitive Annual Percentage Yield (APY), turning your checking account into a modest revenue stream. For larger balances, look for accounts offering sweep or treasury options that automatically move excess funds into higher-yield, government-backed securities. Always understand the requirements to earn the advertised rates.
• Features that Scale with You: Your banking needs will evolve. Look for an account that grows with you. Key features include multi-user controls for your team, the ability to issue physical and virtual cards with set spending limits, sub-accounts to implement systems like "Profit First," and direct integrations with your accounting software (like QuickBooks, Xero, or Gusto). A solid mobile app is a must.
• FDIC Insurance Coverage: The standard FDIC insurance limit is '$250,000' per depositor, per bank. As your business grows, your cash balance might exceed this. Many fintech platforms partner with a network of banks to offer extended coverage via sweep networks, spreading your deposits across multiple institutions to insure millions. Confirm the coverage caps and understand the conditions of these programs.

Eight Strong Picks by Use Case​

Bluevine Business Checking — Best for High APY on Checking​

• Why it stands out: Bluevine makes your cash work for you. Its Standard plan has no monthly fees and pays a competitive 1.5% APY on balances as long as you meet simple monthly activity requirements. If you have higher balances and more activity, you can upgrade to their Plus or Premier plans for an APY of up to 3.7%. Another major benefit is its extended FDIC protection of up to '$3' million through a partner sweep network.
• Good to know: While Bluevine is an online-first platform, it accommodates cash deposits through partner locations like Green Dot and Allpoint+ ATMs. Be aware of the fees, which typically include a '$4.95' fee at Green Dot retailers or a variable fee at Allpoint+ ATMs.

Mercury — Best for Venture-Backed Startups & Remote-First Teams​

• Why it stands out: Built for modern, tech-focused companies, Mercury offers a completely online experience from start to finish. It excels with its clean user interface, robust payment tools (ACH, checks, wires), and powerful multi-user controls. Its standout feature for well-funded startups is the Mercury Vault, which provides extended FDIC coverage up to '$5' million by sweeping funds across its partner-bank network (including Choice Financial Group and Column N.A.).
• Good to know: It's important to remember that Mercury is a fintech platform, not a bank. The FDIC insurance is passed through from its partner banks. Mercury is not built for cash-based businesses; it does not accept physical cash deposits, and checks must be deposited via its mobile app.

Relay — Best for “Profit First” and Cash-Flow Clarity​

• Why it stands out: Relay is designed for business owners who want a crystal-clear view of their finances. You can create up to 20 individual checking accounts at no extra cost, making it incredibly easy to implement the "Profit First" methodology or create dedicated accounts for taxes, payroll, and operating expenses. It also allows you to issue up to 50 virtual or physical debit cards. For idle cash, Relay offers savings accounts with a well-advertised APY of up to 3.03% and provides FDIC coverage up to '$3' million via its sweep program with Thread Bank.
• Good to know: Like Mercury, Relay is a fintech whose banking services are provided by Thread Bank (Member FDIC). Be sure to review the sweep program details to understand how the pass-through FDIC insurance works.

Axos Basic Business Checking — Best No-Fee Online Bank​

• Why it stands out: If you want the security and structure of a direct bank without the fees, Axos is a top contender. Its Basic Business Checking account has no monthly maintenance fees, unlimited transactions, and unlimited domestic ATM fee reimbursements. It also includes free domestic incoming wires, making it a powerful and truly free option for many LLCs. As a chartered bank, Axos also offers optional expanded FDIC coverage through the IntraFi network.
• Good to know: Axos frequently runs new-customer promotions and offers. It's always a good idea to confirm the current terms and bonuses directly on their site before you sign up.

Chase Business Complete Banking — Best for Branch Access + Built-in Card Acceptance​

• Why it stands out: For businesses that need a physical presence, Chase's nationwide network of branches and ATMs is hard to beat. The Business Complete Banking account integrates QuickAccept, allowing you to take credit card payments directly through the Chase Mobile app. The '$15' monthly fee is straightforward to waive through several methods, including maintaining a minimum balance or meeting purchase requirements.
• Good to know: Chase has a tiered system of business accounts. The fee schedules, transaction allowances, and free cash deposit limits vary significantly between tiers. Always download and review the latest fee schedule PDF before committing to ensure the account matches your transaction volume.

U.S. Bank Silver Business Checking — Best for Low Volume + '$0' Monthly Fee​

• Why it stands out: If you want a traditional, big-name bank but don't want to worry about monthly fees, the U.S. Bank Silver Business Checking account is an excellent choice. It charges '$0' in monthly maintenance fees and provides 125 free transactions and 25 free cash-deposit units per statement cycle. It’s a solid, no-frills option for new or low-volume businesses.
• Good to know: As your business scales, you can easily upgrade to U.S. Bank's Gold or Platinum tiers, which offer higher transaction allowances and more advanced features. Keep an eye on the fee schedules for these higher tiers.

Bank of America Business Advantage — Best for Integrated Services & Large Network​

• Why it stands out: Bank of America offers another vast branch network and excels at rewarding customers for deeper relationships. Its Business Advantage accounts (Fundamentals and Relationship) offer multiple ways to avoid the monthly fee, including maintaining a minimum balance, hitting a monthly debit card spending target, or qualifying for their Preferred Rewards for Business program.
• Good to know: The specific rules for waiving fees can be complex. Before opening an account, check the current "fees at a glance" PDF on their website to confirm the exact waiver requirements for the plan you're considering.

Novo — Best for Simple, Fee-Light Digital Banking with Built-in Tools​

• Why it stands out: Novo is a fintech platform focused on simplicity and utility for freelancers and small business owners. It has no monthly fees or minimum balance requirements and reimburses all ATM fees (up to a monthly cap). Its standout features are the built-in tools, including "Reserves" for budgeting (similar to sub-accounts), free invoicing, and integrations with popular business tools. All deposits are FDIC-insured via its partner bank, Middlesex Federal Savings.
• Good to know: Novo is not designed for businesses that handle physical cash. It does not support direct cash deposits, so you'll need to plan for workarounds like using a money order if cash is part of your workflow.

How to Decide in 10 Minutes​

Feeling overwhelmed? Use this quick guide to narrow your choices.

• If you want to earn high interest on your operating cash: Start with Bluevine. If you also need advanced budgeting with multiple accounts, check Relay.
• If you’re a startup optimizing for speed and digital controls (and don't handle cash): Look at Mercury or Relay. Just be sure to verify your industry is eligible on their platforms.
• If you take cash or need in-person services: Your best bets are Chase, U.S. Bank, or Bank of America. Compare their fee waiver rules and, most importantly, their limits on free cash deposits.
• If you just want a reliable "no monthly fee" account from an actual bank: Go with Axos Basic Business Checking. It's a straightforward and powerful workhorse.

Opening an LLC Account: Documents & Compliance Notes​

Opening your account is usually straightforward, but preparation is key.

• Bring the Basics: You will almost certainly need your Employer Identification Number (EIN) from the IRS, your articles of organization, and your company's operating agreement. You will also need your personal government-issued ID and potentially a business license or DBA ("doing business as") registration if applicable. Each bank's checklist can vary slightly, so confirm what you need before you go to a branch or start an online application.
• Know the BOI Landscape: The rules around Beneficial Ownership Information (BOI) reporting have been in flux throughout 2025 due to ongoing litigation and new rulemaking. This regulation requires many LLCs to report information about their owners to the Financial Crimes Enforcement Network (FinCEN). Check FinCEN.gov for the latest status and deadlines before you open or make changes to your business accounts.

A Few Pro Tips​

• Don’t over-optimize for APY at the cost of friction. A high-yield account is useless if it creates operational headaches. If your team needs to make frequent cash deposits or visit a branch for notary services, the convenience of a traditional bank will easily outweigh a percentage point of interest.
• Model your actual fees. Don't just look at the advertised monthly fee. Review your last 90 days of business activity. Count your ACH transfers, wire payments, cash deposits, and card transactions. The account that looks cheapest on paper might not be the cheapest for your specific usage pattern.
• Check the terms of extended FDIC coverage. Sweep programs are a fantastic innovation for protecting large balances, but they aren't magic. They operate with specific partner banks and have conditions. Read the fine print to understand how your money is being managed and protected.
• Evaluate onboarding promotions last. A '$300' sign-up bonus is great, but it's a one-time perk. Don't let a short-term offer lock you into an account that will cost you more in fees or frustration over the long term. The right long-term fit is always more valuable.

Methodology (Short & Honest)​

This list was compiled by prioritizing factors that matter to running a real business: transparent fees and waiver rules, practical options for cash deposits or credible digital alternatives, features that help a business scale (like sub-accounts and user controls), and either a high APY on checking or meaningful extended FDIC coverage. All information was sourced from each provider’s public-facing pages and official U.S. small business resources. Terms change frequently, so always verify final details on the product page you intend to use.

TL;DR​

• APY Chasers: Bluevine
• Startups (Remote-First, No Cash): Mercury or Relay
• In-Person & Cash-Friendly: Chase, U.S. Bank, Bank of America
• No-Fee Workhorse (Bank): Axos
• Simple & Tool-Rich (Fintech): Novo

Ultimately, the best choice is the one that matches your transaction patterns today—and supports your team’s reality six months from now.

Finding the right business loan in 2025 is less about chasing the lowest advertised rate and more about matching how you’ll use the money to the product designed for that use. Below is a founder‑friendly map of the current landscape—what’s cheapest, what’s fastest, and what’s safest—plus concrete next steps and lender criteria you can actually meet.

TL;DR — Pick by Your Situation​

• Lowest overall APR for general use: An SBA 7(a) term loan is your best bet. These are government-guaranteed, with rates capped relative to the prime rate. Expect competitive costs, but be prepared for more paperwork and a longer process.
• Real estate or heavy equipment, long fixed rate: The SBA 504 loan program is designed for this. It offers 10, 20, or 25-year fixed portions pegged to 10-year Treasuries. Recent 2025 debenture rates have hovered in the mid-6% range.
• Flexible working capital you can reuse: A business line of credit (LOC) from a bank or online lender is ideal. For example, Bluevine offers LOCs up to $250k with rates as low as 7.8$10k monthly revenue, 12+ months in business).
• Money this week: An online term loan is the fastest option. OnDeck, for instance, funds quickly with term loans up to $250k and lines of credit up to$200k. Typical minimums are a 625 FICO score, $100k+ in annual revenue, and at least one year in business.
• Newer businesses or smaller amounts: Look into an SBA Microloan (up to $50k with 8$15k through crowdfunding.
• You invoice large customers and wait to get paid: Invoice financing or factoring can unlock cash tied up in receivables. Typical fees start around 2.2% per 30 days, which is cheap if invoices turn quickly but expensive if they don't.
• You operate in a rural area: USDA Business & Industry (B&I) loan guarantees are an underused but powerful tool. In FY2025, these guarantees commonly cover 80% of the loan.
• Last resort only: A merchant cash advance (MCA) offers easy approval but comes at a steep price. Their factor rates (often 1.2–1.5) can translate to eye-watering APRs. Know what you’re signing.

The 2025 Rate Backdrop (What “Cheap” Means Right Now)​

To understand loan costs, it helps to know the current financial environment. The U.S. prime rate is 7.50% as of December 19, 2024, and has remained unchanged through early September 2025. Many bank and SBA loan rates float at prime plus a spread. The SBA keeps its options competitive by capping lender pricing on most 7(a) loans based on size (e.g., base rate + 3.0% for larger loans).

As of mid-2025, average Annual Percentage Rates (APRs) for small business loans look roughly like this: bank term loans are around 7–8%, bank lines of credit are 6.5–8%, online loans have a wide range of 9–75%, and SBA 7(a) loans typically fall between 10.5–15.5%. Remember to treat these as ranges, not promises, as your final rate will depend on your business profile.

Best Loans by Use Case​

1. All-Purpose Working Capital at the Best Rate → SBA 7(a)​

• Why it’s great: The SBA 7(a) loan is a versatile workhorse. It has broad permitted uses, including working capital, refinancing debt, purchasing equipment, and even funding acquisitions. Government rate caps tied to the prime rate keep it affordable. The maximum loan size is **$5M**, with the SBA guaranteeing up to 85$150k and 75% for larger amounts.
• What to expect: Be prepared for a more intensive documentation and underwriting process. While the SBA’s own processing can take 5–10 business days, the total time from your application to receiving funds often takes several weeks due to lender underwriting and closing steps.
• New in 2025: The 7(a) Working Capital Pilot (WCP) now offers monitored lines of credit up to $5M with a maximum maturity of 60 months, all under the same general rate framework. This is a great option if you need revolving capital with SBA protections.

2. Real Estate or Big-Ticket Equipment → SBA 504​

• Why it’s great: The SBA 504 program is specifically designed for major fixed-asset purchases. It offers long, fixed terms of 10, 20, or 25 years on the portion of the loan from a Certified Development Company (CDC), which is pegged to 10-year Treasuries. Recent 2025 debenture rates have been in the mid-6% range. The bank's portion of the loan is typically fixed or variable.
• Caveats: This loan has limited uses and cannot be used for working capital. It also requires the borrower to contribute around 10% in equity (more for startups or special-use buildings).

3. Flexible, Reusable Funding for Recurring Needs → Business Line of Credit​

• Why it’s great: A business line of credit (LOC) allows you to draw cash as you need it and only pay interest on what you use. It's a perfect tool for creating a payroll cushion, managing inventory, or bridging gaps in receivables.
• Bank LOC: These offer the lowest rates if you qualify, with 2025 averages sitting around 6.5–8% APR.
• Online LOC: These are easier and faster to obtain. Bluevine offers up to $250k** with rates as low as **7.8$200k and can fund draws rapidly.
• SBA LOC option: The new 7(a) WCP line of credit is an excellent choice if you want the rate protection of an SBA loan on your revolving credit.

4. Need Funds in 24–72 Hours → Online Term Loan​

• Why it’s great: When speed is the priority, online term loans deliver with streamlined underwriting and fast decisions.
• Example: OnDeck offers term loans from $5k–$250k with repayment terms up to 24 months. Their typical minimums are a 625 FICO score, $100k in annual revenue, and one year in business. Same-day or next-day funding is common after approval.
• Trade-off: You'll pay for the convenience. APRs for online loans can run higher than banks or the SBA, spanning a wide range of 9–75% depending on your business profile and the loan term. Always weigh the need for speed against the higher cost.

5. Smaller Amounts or Thinner Credit Files → SBA Microloan or Kiva​

• SBA Microloan: This program provides loans up to $50k through nonprofit intermediaries. Interest rates are typically 8–13% with terms up to seven years. Borrowers usually need to pledge collateral and provide a personal guarantee. It’s a great option for startups and smaller working capital needs.
• Kiva (U.S.): Kiva facilitates crowdfunded loans from $1k–$15k with 0% interest, no fees, and no collateral. The process involves social underwriting and community support, with approvals taking around 10–15 business days.

6. Cash Locked in Invoices → Invoice Financing/Factoring​

• How it works: This method allows you to get a cash advance against your approved invoices. The fee is typically quoted per 30 days the invoice is outstanding, not as an APR.
• Pricing: Providers like FundThrough offer fees starting around 2.2% per 30 days. It's crucial to calculate the cost based on your actual payment timelines to make an apples-to-apples comparison with other loan types.
• Best for: This is ideal for B2B companies that have reliable customers but deal with slow payment terms (e.g., net-30 or net-45).

7. Rural Operations and Projects → USDA Business & Industry (B&I)​

• Why it’s great: For businesses operating in eligible rural areas, lenders can issue loans backed by the USDA with up to 80% guarantees in FY2025. This powerful risk relief for the lender can translate into better terms for the borrower. Maximum loan sizes can be quite large, often well above typical SBA caps.

8. When You’re Tempted by the “Easy Approval” Route → MCAs (Handle with Care)​

• Heads-up: A merchant cash advance (MCA) is not technically a loan. You receive a lump sum in exchange for a percentage of your future sales. The cost is expressed as a factor rate (commonly 1.2–1.5), which can translate to very high APRs once annualized. Regulators have acted against deceptive practices in this space, so read all disclosures carefully before signing.

2025 Comparison Snapshot​

Lender Criteria You Can Actually Hit​

• OnDeck (fast term loans & LOC): Minimum 625 FICO, $100k+** annual revenue, and **1+ year** in business. They offer up to **$250k for term loans and $200k for lines of credit.
• Bluevine (online LOC): You can get up to $250k** with rates from **7.8$10k+ in monthly revenue, and 12+ months in business. Some state and industry exclusions apply.
• Kiva (0% microloans): Offers $1k–$15k at 0% APR with no collateral required, but there is a social proof and crowdfunding component to the application.

How to Choose in Under 5 Minutes​

• If you can wait and want the best rate: Start with an SBA 7(a) loan for general needs or a 504 loan for real estate and equipment. The rate caps and long terms result in the lowest lifetime cost.
• If speed beats price: Go with an online term loan or an online LOC. You can qualify with less friction and get funded quickly.
• If you’re small/new and need ≤$50k: Try an SBA Microloan or Kiva. These options allow you to work with community lenders and keep costs in check.
• If cash is trapped in invoices: Use invoice financing to smooth out your cash cycles, but keep a close eye on the per-30-day fees.
• If you’re rural: Ask local lenders about USDA B&I guarantees—they are generous in FY2025 and can significantly improve your loan terms.

One-Hour Application Prep Checklist​

Having these documents ready will shave days off the underwriting process:

• ID and ownership info (and be ready for personal guarantees on many products).
• Business financials: The last 6–24 months of bank statements, your year-to-date P&L and balance sheet, and prior-year tax returns.
• AR/AP aging and invoice list if applying for a line of credit or invoice financing.
• Use-of-funds memo: A brief document explaining what you need the money for, why it's important, and how you plan to pay it back.
• For SBA loans: Confirm you meet the agency's size standards and the "credit-elsewhere" test, where lenders must document why conventional credit isn’t available to you on reasonable terms.

Pro Tips to Save Real Money​

• Match product to use. Using the wrong tool for the job gets expensive fast. Use a line of credit or a 7(a) for working capital, and a 504 for real estate. Avoid using a high-cost product like an MCA for long-term needs.
• Compare APR, not just rates. Online lenders may quote “fees” or “monthly rates.” Always convert these to an Annual Percentage Rate (APR) to accurately compare offers from banks and the SBA.
• Build a relationship with one lender. Your credit limits and pricing often improve after 3–6 months of positive payment history, especially with online LOCs that may reassess your account monthly.
• Avoid MCAs when possible. Factor rates like 1.35 can equal triple-digit APRs. Only consider this option if it’s the difference between survival and shutdown, and even then, read the disclosures with extreme care.

What to Do Next (Simple Path)​

• If you want the best rate: Talk to an SBA-active bank and a CDC on the same day to explore 7(a) and 504 loans. Use the SBA’s online directories to find active lenders and CDCs in your area.
• If you need speed: Pre-qualify with a reputable online lender (like OnDeck for term loans/LOCs or Bluevine for LOCs) to see what you're eligible for today. Use that offer to pressure-test terms with other lenders.
• If you’re rural or need less than $50k: Contact a local Community Development Financial Institution (CDFI) or a USDA-experienced bank to ask about B&I loans or microloans.

If you run a small business, the right credit card can be a quiet profit center. It can smooth your cash flow, earn outsized rewards on your real expenses, and bundle in protections you’d otherwise pay for. Below is a practical, category-aware shortlist of 16 excellent business cards for 2025. They are grouped by what they do best, with their key earning structures highlighted. Offers and terms change, so always verify details with the issuer before you apply.

Quick Picks: Who Should Get What​

• For simple, everyday cash back: The Chase Ink Business Unlimited® offers a flat 1.5% cash back on every purchase with a $0 annual fee and a 0% introductory APR on purchases for 12 months.

• For big spenders wanting high cash back without juggling categories: The Chase Ink Business Premier® is a pay-in-full card that earns 2.5% on purchases of $5,000 or more and 2% on everything else, with a $195 annual fee.

• For office, internet, and phone bills: The Chase Ink Business Cash® gives 5% cash back at office supply stores and on internet, cable, and phone services (up to a cap), plus 2% at gas stations and restaurants. It has a $0 annual fee and an introductory APR offer.

• For low-maintenance points on everything: The Blue Business® Plus Credit Card from American Express provides 2X Membership Rewards® points on the first $50,000 in purchases each year (then 1X) for a $0 annual fee.

• For a cash-back twin to the Blue Business Plus: The American Express Blue Business Cash™ Card earns 2% cash back on the first $50,000 spent annually (then 1%), with a $0 annual fee.

• For ad spend, shipping, and travel: The American Express® Business Gold Card automatically gives you 4X points on your top two eligible spending categories each billing cycle, up to $150,000 per year.

• For travel power perks and lounge access: The Business Platinum Card® from American Express is the go-to for premium travel benefits, offering 5X points on flights and prepaid hotels booked through AmexTravel, though it comes with a high annual fee.

• For a no-annual-fee, pick-your-category card: The Bank of America® Business Advantage Customized Cash Rewards card lets you earn 3% in a category of your choice and 2% on dining for a $0 annual fee. The Preferred Rewards for Business program can boost earnings by 25%–75%.

• For restaurants, gas/EV charging, and office supplies: The U.S. Bank Triple Cash Rewards Visa® Business Card earns 3% in these key categories, has a $0 annual fee, includes a $100 annual software subscription credit, and offers a 0% introductory APR window.

• For simple, travel-centric points: The Capital One Spark Miles for Business card earns 2X miles on everything and includes a Global Entry/TSA PreCheck credit. The $95 annual fee is waived for the first year.

• For unlimited 2% cash back: The Capital One Spark Cash Plus is a pay-in-full charge card with unlimited 2% cash back. Its $150 annual fee is refunded if you spend $150,000 annually.

• For loyal American Airlines travelers: The CitiBusiness® / AAdvantage® Platinum Select® Mastercard® offers a first checked bag free and preferred boarding on AA flights. The $99 annual fee is often waived for the first year.

• For warehouse club runs and fuel: The Costco Anywhere Visa® Business Card by Citi gives 4% back at gas stations/EV chargers (up to a cap), 3% on dining and eligible travel, and 2% at Costco. There's no card annual fee with a paid Costco membership.

• For Amazon-first businesses: The Amazon Business Prime American Express Card delivers 5% back at Amazon.com with an eligible Prime membership (or you can choose flexible payment terms), all for a $0 annual fee.

• For general travel points with a rich hotel ecosystem: The Marriott Bonvoy Business® American Express® Card earns 6X points at participating Marriott properties, provides Gold elite status, and includes an annual free-night certificate for a $125 annual fee.

• For ads, shipping, and travel spending: The Chase Ink Business Preferred® is a category workhorse, earning 3X points on shipping, online ads, travel, and internet/cable/phone services on the first $150,000 spent per year.

How to Choose Your Card​

To get more value than you pay in an annual fee, focus on these key areas.

Match rewards to your top expense lines. Look at your ledger. If you spend heavily on office supplies, internet, and phone bills, the Ink Business Cash® is unusually efficient. If your spending is concentrated in a few shifting categories like ads, shipping, or travel, the American Express® Business Gold Card automatically targets your top two categories each cycle without any manual switching.

If you prefer simplicity, go for a flat-rate card. Options like the Ink Business Unlimited® (1.5% cash back) and the Blue Business® Plus (2X points up to $50K) minimize the mental load without sacrificing value.

Fund growth with introductory APR windows. Several cards offer 0% introductory APR on purchases, which can help smooth out inventory or equipment buys if you pay them down on schedule. Look to the Ink Cash, Ink Unlimited, and U.S. Bank Triple Cash for these offers.

If you travel often, decide between perks and earning power. The Business Platinum Card® from American Express layers on lounges and statement credits, while the Capital One Spark Miles for Business keeps it simple with 2X miles everywhere and the option to transfer to airline and hotel partners.

Leverage existing banking relationships. If you already bank with Bank of America, their Preferred Rewards for Business status can boost earnings by 25%–75% on eligible BofA business cards, turning decent earn rates into standout ones.

For large, lumpy purchases, do the math. The Ink Business Premier® pays 2.5% on single transactions of $5,000 or more. If you regularly cut big checks for freight, equipment, or media buys, that math wins fast. Just remember it’s a pay-in-full card.

At-a-Glance Cheat Sheet​

No Annual Fee & Simple​

• Ink Business Unlimited®: 1.5% back on everything; intro APR.
• Blue Business® Plus: 2X points on the first $50K/year.
• Blue Business Cash™: 2% back on the first $50K/year.
• BofA Customized Cash Rewards: 3% in a category of your choice; 2% on dining; relationship boosts available.
• U.S. Bank Triple Cash Rewards Visa® Business: 3% in key business categories; software credit.

Cash-Back Maximizers​

• Ink Business Premier®: 2.5% on ≥$5K purchases; 2% otherwise; pay-in-full; $195 AF.
• Capital One Spark Cash Plus: Unlimited 2% back; AF refunded with $150K annual spend.

Travel-Forward​

• Ink Business Preferred®: 3X on ads, shipping, travel & more (up to $150K).
• Business Gold (Amex): 4X on your top 2 eligible categories (cap applies).
• Business Platinum (Amex): Premium travel perks & lounges; 5X via AmexTravel on flights/prepaid hotels.
• Spark Miles for Business: 2X miles on everything; transfer partners; Global Entry/TSA PreCheck credit.
• CitiBusiness / AAdvantage Platinum Select: AA bag & boarding perks; $99 AF (often waived year one).
• Marriott Bonvoy Business (Amex): Gold status + annual free night; $125 AF.

Category-Specific​

• Costco Anywhere Visa® Business by Citi: 4% gas/EV (to a cap), 3% dining/travel, 2% at Costco; requires Costco membership.
• Amazon Business Prime Amex: Up to 5% back at Amazon.com with eligible Prime (or flexible terms); $0 AF.

Smart Stacking Ideas​

• One-Card Simplicity: The Blue Business® Plus (2X up to $50K) or Ink Unlimited® (1.5% back) covers miscellaneous spending with minimal effort.

• Two-Card Combo: Pair the Ink Business Cash® (for its 5%/2% categories) with the Ink Business Unlimited® (for 1.5% everywhere else). If you prefer not to have two Chase cards, swap in the Blue Business® Plus for the "everywhere" role.

• Travel Optimizer: Use a high-multiplier card like the American Express® Business Gold Card (4X on top categories) or Ink Business Preferred® (3X on its categories) and a flat-rate travel card like the Spark Miles for Business for everything else, then redeem your points for trips.

Fine Print to Respect​

• Intro APR is not free money. Treat 0% periods as structured payment plans and pay off the balance before the introductory window closes. Cards like the Ink Cash, Ink Unlimited, and U.S. Bank Triple Cash all offer these periods.

• Pay-in-full products behave differently. The Ink Business Premier® and Spark Cash Plus are designed to be paid in full monthly. This is great for spenders with predictable cash flow but not for those who need to revolve a balance.

• Co-branded cards have constraints. Airline and hotel cards can be incredible—if you actually use the brand. Otherwise, general-purpose cash-back or transferable-points cards are usually a better first choice.

How This List Was Curated​

This list prioritizes (1) the earning math on common small-business categories, (2) simplicity of ongoing use, (3) cash-flow friendliness (like intro APR offers), and (4) issuer acceptance and ecosystem. All key card attributes were verified against public information as of September 2025.

Picking a business checking account in 2025 isn’t about finding a single “winner.” It’s about matching how you move money—ACH vs. wires, cash deposits, international payouts, multi-user access, interest on idle cash—to what each provider actually does well (and at what cost). Below are six excellent options, each “best” for a specific use case, followed by a quick comparison and a practical buying framework.

At a glance — best by use case​

• Bluevine — best for earning APY on checking and modern payables automation.
• Mercury — best for startups that want builder‑friendly banking and free USD wires.
• Relay — best for multi‑account cash management (up to 20 checking accounts) and cash deposits via Allpoint+.
• Novo — best for Stripe‑centric solo and small teams; fast Stripe payouts with Boost; domestic wires rolling out to eligible accounts.
• Axos Basic Business Checking — best for unlimited ATM reimbursements and free incoming wires.
• Chase Business Complete Banking — best for branch access, built‑in card acceptance, and regular cash deposits.

Quick comparison (key signals to check)​

Rates, fees, and coverage change—always confirm on the provider’s site before you apply. Data points above reflect public pages as of September 3, 2025.

The picks, explained​

Bluevine — online checking that actually pays​

• Why it’s great Bluevine’s tiered plans let you trade a higher monthly plan (waivable) for higher yield: 1.5% APY on Standard (with qualifying activity) up to 2.7% (Plus) and 3.7% (Premier)—with FDIC coverage up to $3M via a sweep network. Daily operations feel modern: unlimited transactions, free standard ACH, and integrated bill pay.
• Costs to watch Outgoing domestic wires are $15**; same‑day ACH is **$10; mailed checks are $1.50**. Cash deposits work at Green Dot retailers (typically **$4.95 per deposit) and Allpoint+ ATMs with stated per‑deposit limits.
• Good fit if you want yield on operating cash without giving up modern payables.

Mercury — startup‑grade banking with free USD wires​

• Why it’s great Mercury keeps fees simple: free ACH, checks, domestic wires, and USD international wires. If you send non‑USD, there’s a 1% FX fee. Deposits are held at partner banks with sweep coverage offering up to $5M in FDIC insurance. In March 2025, Mercury announced it’s transitioning away from Evolve to other partners (such as Choice Financial Group, Column N.A. and Patriot Bank).
• Costs to watch No cash deposits—period. If your business is cash‑heavy, consider Relay or Chase.
• Good fit if you’re a software‑first company wiring vendors globally, want API access, and don’t handle cash.

Relay — cash‑flow control with sub‑accounts and ATM cash deposits​

• Why it’s great Relay is built for envelope‑style budgeting: open up to 20 checking accounts under one entity, issue up to 50 cards, set rules/roles, and keep funds organized. Cash deposits are supported at Allpoint+ ATMs, and funds can be covered by FDIC up to $3M through its partner bank program.
• Costs to watch On the free Starter plan, outgoing domestic wires cost $8** (international via local rails from **$5; $25** via SWIFT). **Relay Pro** adds **same‑day ACH** and **free outgoing wires**. Cash‑deposit limits at ATMs apply (e.g., **$1,000 per deposit, $2,000/day).
• Good fit if you want clean segregation of funds (e.g., Profit First), team controls, and the ability to deposit cash without visiting a branch.

Novo — the Stripe‑friendly account for solos and creators​

• Why it’s great Novo integrates tightly with Stripe; flip on Novo Boost to get Stripe payouts up to two days faster (at no added Novo fee). Novo refunds ATM fees up to $7/month and now supports domestic wires for eligible accounts; international wires are sent via Wise.
• Costs to watch No direct cash deposits. If you take cash, you’ll buy a money order and mobile‑deposit it. Wire availability/fees may depend on eligibility and Wise’s schedule for international transfers.
• Good fit if you’re online‑first (e.g., e‑commerce or services), rely on Stripe, and want simple, low‑friction banking.

Axos Bank — $0/month with unlimited ATM rebates​

• Why it’s great Basic Business Checking has no monthly maintenance fee, unlimited domestic ATM fee reimbursements, free incoming wires (domestic & international), two reimbursed domestic outgoing wires/month, and no minimum opening deposit—rare for a full‑service bank.
• Costs to watch Additional outgoing wires beyond the included reimbursements may incur fees; check Axos’ current schedule before heavy wire usage.
• Good fit if you value a traditional bank’s stability with online convenience and nationwide ATM flexibility.

Chase Business Complete Banking — branch muscle + built‑in payments​

• Why it’s great Chase pairs a massive branch/ATM footprint with built‑in card acceptance via QuickAccept (with same‑day deposits) and multiple ways to **waive the $15** monthly fee (e.g.,$2,000 minimum daily ending balance, eligible deposits from Chase Payment Solutions, or Ink card spend). In‑branch, you get $5,000 of cash deposits per cycle at no extra charge.
• Costs to watch Wire fees are typical of big banks (e.g., $25 outgoing domestic online). If you prefer zero‑fee wires, consider Mercury; if you need cash deposits without branch visits, see Relay.
• Good fit if you accept card payments in person, regularly deposit cash, or want walk‑in service.

How to choose (in 10 minutes)​

• Map your money motion
  • Heavy cash? Favor Chase (branch) or Relay (Allpoint+ cash deposit).
  • Frequent wires? For low cost, Mercury (free USD wires) or Relay Pro (free outgoing wires) stand out.
  • Need yield on checking? Bluevine offers plan‑based APY up to 3.7%.
• Decide on operating style
  • Want envelope budgeting and multi‑entity clarity? Relay (up to 20 accounts) is built for it.
  • Stripe‑heavy revenue? Novo + Boost is tailor‑made.
• Check true cost vs. your transactions
  • Compare outgoing wire fees, same‑day ACH, and cash deposit fees against your monthly volumes. Bluevine and Relay publish clear per‑transaction fees; Mercury keeps most domestic/US‑dollar transfers at $0.
• Confirm coverage & partners
  • If extended FDIC matters, note Bluevine and Relay advertise up to $3M**, **Mercury** up to **$5M, via sweep networks across partner banks.

Methodology (what we prioritized)​

• Fees you’ll actually pay (outgoing wires, same‑day ACH, cash deposit fees) over teaser bonuses.
• Availability and access (cash deposits, branches/ATMs, multi‑user controls).
• Safety (FDIC pass‑through coverage and partner banks).
• Operational leverage (APY on checking, Stripe payout acceleration, multi‑account cash management).

We relied on official product pages, help-center articles, and reputable finance publications; all terms are subject to change—verify current details on the provider’s site before opening.

Want a short, personalized pick?​

Tell me how you bank each month (cash deposits, wires, ACH volume, international needs, average balance), and I’ll match you to the best fit from this list with a 60‑second rationale.

Choosing where your company keeps—and moves—its money affects everything from fees to cash-flow visibility. The right account can save you hundreds in fees, earn you interest on idle cash, and simplify your bookkeeping. The wrong one can be a constant source of friction.

The good news: 2025 gives small businesses a deep bench of choices, from nationwide branch banks to modern banking platforms with powerful software layers. Below are seven standout options, each “best for” a different kind of business. Rates and terms change, so use this as a decision guide and confirm the details before you open an account.

TL;DR — Our Top Picks by Scenario​

• Need branches & easy cash deposits: Chase Business Complete Banking
• Want big-bank tools & rewards: Bank of America Business Advantage
• Maximizing your checking APY: Bluevine Business Checking
• For the software-first startup/VC-backed company: Mercury
• For Profit-First style envelopes & sub-accounts: Relay
• For fee-free, ATM-friendly online banking: Axos Basic Business Checking
• For no monthly fee + steady APY in the AmEx ecosystem: American Express® Business Checking

How We Chose These Accounts​

To find the best options, we focused on the features that matter most to small business owners. We analyzed total cost (including monthly fees and how to waive them), access to cash via branches and ATMs, built-in cash-flow management tools, and the potential to earn a yield on idle cash. We specifically looked at how well each account fits different business models, from cash-heavy retail stores to online SaaS companies.

The Short List: A Closer Look​

<a name="chase"></a>Chase Business Complete Banking — Best for Deposit-Heavy, Branch-First Businesses​

Why it stands out: With a massive network of over 5,000 branches and 15,000 ATMs, Chase provides unparalleled in-person access for businesses that handle frequent cash deposits or require face-to-face support. The account's standard $15 monthly fee is straightforward to waive by meeting requirements like maintaining a $2,000 minimum daily balance. A unique feature is the built-in QuickAccept card reader, which allows for same-day funding on eligible transactions, a major plus for managing daily cash flow.

Keep in mind: Like most traditional banks, Chase has a fee schedule for services like wire transfers and excess cash deposits. Before opening an account, review your typical monthly activity and compare it against their fee structure to avoid surprises.

<a name="bank-of-america"></a>Bank of America Business Advantage — Best for Big-Bank Tools & an Upgrade Path​

Why it stands out: Bank of America offers a tiered system that can grow with your business. The Business Advantage Fundamentals account starts with a promotional $0 monthly fee for the first year (then $16), which can be waived by meeting criteria like a $5,000 combined average monthly balance. As your business grows, you can move to the Relationship tier, which offers more no-fee services (like incoming wires) for higher balances. All tiers include access to a helpful cash-flow dashboard, QuickBooks integration, and a digital debit card you can use immediately.

Keep in mind: The monthly fee can be a drag if you don't consistently meet the waiver criteria. Be realistic about your typical balances and transaction volume to ensure you're in the right tier.

<a name="bluevine"></a>Bluevine Business Checking — Best for High APY on Checking​

Why it stands out: Bluevine challenges the idea that checking accounts don't earn interest. Eligible customers can earn a highly competitive Annual Percentage Yield (APY), with rates around $1.5% - 3.7%~APY depending on the plan and meeting certain activity qualifiers. It’s a powerful way to make your operational cash work for you. The account has no monthly fees and comes with a solid toolkit for payments, including ACH, wires, and invoicing.

Keep in mind: Bluevine is an online platform. While you can deposit cash, it's done through third-party networks like Allpoint+ ATMs and Green Dot retailers, which typically charge a fee (e.g., up to $4.95 per deposit). If your business handles a lot of physical cash, these fees could offset the interest earned.

<a name="mercury"></a>Mercury — Best for Startups that Want a Modern Finance Stack​

Why it stands out: Mercury is built for tech-savvy startups. It's a financial technology company (not a bank) that provides banking services through its FDIC-insured partner banks. It offers a powerful, developer-friendly platform with no monthly fees, granular user controls, and robust payment APIs. For businesses with significant cash on hand, Mercury offers up to $5 million in FDIC insurance eligibility through partner-bank sweep networks and Mercury Treasury, an option to invest idle cash into low-risk money market funds and T-bills, advertising yields up to ~4.26%~APY.

Keep in mind: Mercury Treasury is an investment account, not a bank account, meaning it is SIPC-protected but subject to market risk. Also, as a platform that relies on partner banks, the specifics of international payments and foreign exchange can vary, so read the fine print if you operate globally.

<a name="relay"></a>Relay — Best for "Profit First" Envelopes, Sub-Accounts, and Spend Controls​

Why it stands out: Relay is designed for business owners who want precise control over their finances. Like Mercury, it's a financial technology company with banking services provided by an FDIC-insured partner bank. Its standout feature is the ability to create up to 20 individual checking accounts to manage different budget categories (à la the "Profit First" method) and issue up to 50 virtual or physical debit cards with custom spending limits. It also offers a competitive savings APY on its paid plans, with tiers reaching up to ~3.03%~APY.

Keep in mind: As a software-first platform, handling physical cash is more complex than with a traditional bank. If your business model relies on frequent cash deposits, be sure to confirm that Relay's cash-in workflows fit your needs.

<a name="axos"></a>Axos Basic Business Checking — Best for Fee-Free, ATM-Friendly Online Banking​

Why it stands out: Axos Bank delivers a truly fee-conscious online banking experience. The Basic Business Checking account has no monthly maintenance fees and no transaction limits. Its most compelling feature is unlimited domestic ATM fee reimbursements, which is a rare and valuable perk for an online bank, giving you the freedom to withdraw cash from any ATM nationwide without penalty.

Keep in mind: Axos is a fully digital bank with no physical branches. If you need to deposit large amounts of physical cash or require in-person teller services, you will likely need to pair it with an account at a traditional brick-and-mortar bank.

<a name="american-express"></a>American Express® Business Checking — Best for No Monthly Fee + Stable APY​

Why it stands out: For businesses already in the American Express ecosystem, this checking account is a natural fit. It features no monthly service fees and offers a respectable APY (commonly reported around ~1.30%~APY in 2025) on balances up to $500,000. The account integrates seamlessly with AmEx charge and credit cards, making it easy to manage payments and rewards in one place.

Keep in mind: This is an online-first account. While excellent for digital transactions, businesses that are cash-heavy or need frequent in-person banking services should consider maintaining a relationship with a local branch bank as well.

Quick Chooser: Match the Account to Your Business​

• For retailers, restaurants, and trades with weekly cash deposits: Start with Chase or Bank of America for their extensive branch networks and straightforward fee waiver options.

• For online-first businesses (SaaS/e-commerce), distributed teams, or those with rigorous spending policies: Look at Mercury for its software-centric controls and Treasury yield option, or Relay for its powerful multi-account envelope budgeting.

• For making idle cash work without friction: Consider Bluevine for its high APY on checking balances or Mercury Treasury for sweeping larger sums into investment-grade funds (note the investment risk).

• For frequent ATM users who hate fees: Axos is the clear winner with its unlimited domestic ATM fee reimbursements.

• For businesses with heavy AmEx card usage seeking a simple, steady APY: The American Express Business Checking account is a logical and rewarding choice.

Frequently Asked Questions​

Are Mercury and Relay “banks”?

No. Both are financial technology companies that partner with FDIC-insured banks (like Thread Bank for Relay) to provide banking services. Your deposits are held at these partner banks and may be distributed across a "sweep network" of other banks to provide increased FDIC coverage, often up to several million dollars.

Can I earn interest on a business checking account?

Yes, absolutely. Several modern options now offer competitive yields. For instance, Bluevine advertises rates from ~1.5% to 3.7%~APY on checking for eligible customers, and Relay offers a savings APY up to ~3.03%~APY on certain plans. These rates are variable and can change with the market.

We handle lots of cash. Will an online-only account work?

It can, but it comes with trade-offs. You should expect to pay per-deposit fees or take extra steps. For example, Bluevine uses the Green Dot network for cash deposits, which typically involves a retail service fee. If cash is a core part of your operations, a traditional branch bank like Chase is often simpler and more cost-effective.

The Bottom Line​

There’s no single “best” small-business account—there’s only the best fit for your unique mix of deposits, payments, balances, and team workflow. If you need a simple rule of thumb for 2025:

• Consider a hybrid approach: Pair a branch account (like Chase or Bank of America) for cash and in-person needs with a software-first account (like Mercury or Relay) for superior digital controls and yield.
• Revisit your setup periodically: APYs, fees, and waiver rules change. A quick review once or twice a year can ensure you're still in the best possible account for your business.

Accuracy note: Fees, features, APYs, and availability are accurate as of September 3, 2025, per each provider’s disclosures and product pages. Always confirm current terms directly with the financial institution before opening or switching accounts.

Sources (Selected): Chase, Bank of America, Bluevine, Mercury, Relay, Axos Bank, Business Insider, American Express.

If you want, tell me your location, typical monthly balance, cash vs. card sales ratio, and expected wire/ACH volume. I can tailor this list to a single “best match” for your business.