As a former banker, I have 1st hand experience on how clients with a relationship to the bank get better service. Whether you're applying for a loan, seeking advice, or just trying to avoid overdraft drama, your banker is a powerful ally—when you keep them in the loop.
Tips to Build a Better Banking Bond:
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Schedule Regular Check-ins
Meeting with your business banker quarterly (or at least annually) helpsthem understand your goals and challenges. I loved meeting with my clients and learning about what they did. Because I had so many clients, I could make connections for them and wanted to help them succeed. Just like bookkeeping—consistency is key. -
Stay on Top of Liabilities
Your banker wants to see thatyou’re managing debt responsibly. Keeping accurate financial information on debt is tricky and is often entered incorrectly. Your banker will want to see that you understand your debt. -
Choose the Right Account for Your Goals
Not all bank accounts are created equal—and not all of them play nicely with QuickBooks. Make sure your account type aligns with your organization’s needs, whether you're a small business or a non-profit. And here’s a pro tip: pick a bank that syncs smoothly with your bookkeeping software. It makes life easier for your bookkeeper, who won’t have to chase you down for statements or transaction details. Fewer emails from your bookkeeper = more peace for you.
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Keep Your Books Clean
This is where we shine. AtBudgetEase, we close out each month, reconcile accounts, and provide financial analysis that helps you speak your banker’s language. We’re not just an accounting service—we’re your behind-the-scenes support team. -
Watch Your Cash Flow
Profits don’t necessarily mean more money in your bank account. Make sure you closely watch your cash flow to make sure you have enough cash to meet your debt payments. Plus, bankers like clients that manage risk. One way you can do this is by keeping enough cash to weather a couple months’ storm.
Let’s Make Your Banker Proud
A good banking relationship starts with good data—and that starts with good bookkeeping. If your accountant only shows up at tax time, it might be time to outsource accounting to someone who’s in your corner year-round. Contact BudgetEase today!
