• Fri. Sep 22nd, 2023

How to Manage Multiple Bank Accounts: ADHD Financial Advice

Q: “I have multiple checking and savings accounts for personal use and for two small businesses. I do not know a great way to keep these accounts balanced. I have been using the old-fashioned techniques of pencil and pen in my registers, but it takes me half a day to complete for all my accounts. Is there another way?”— NordyGirl

Hi NordyGirl:

That is a lot to manage! Though I am a pencil and paper girl, too, I have found that online and mobile tools have really helped me streamline my business and personal accounts. I suggest you enlist professional financial help such as an accountant, bookkeeper, or financial planner who can help you set up the correct systems for your financial needs.

I also advise you to use technology any way you can. It will automate all your processes. Here are the three tools that I can’t live without.

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QuickBooks is the premiere business accounting software for small businesses. It’s a powerful tool that can easily handle most of your bookkeeping tasks. It can also simplify and streamline the accounting, tracking, and reporting side of your businesses, which will save you money and time. The cost is affordable, the software customizable, and the customer support first rate. You can try QuickBooks for free for 30 days.

My favorite feature is the ability to invoice customers directly from the site and receive payment the same way. QuickBooks even allows you to pay your own personal bills online. All you need to do is connect it to your bank accounts.

Your local bank. Set up an appointment with a customer representative at your local bank. They can help you download the bank’s mobile app, create an account online, and investigate other time-saving processes. Your bank’s mobile app helps you track expenses, payments, deposits, and provides an overview of all your balances. I think you will find these features incredibly useful.

Mint is another powerful personal finance app that lets you see and manage all your financial accounts, including your bank and credit card accounts, from one place. You connect your credit cards, PayPal account, or as many bank accounts as you like to get started.  Once your accounts are connected, Mint provides you with an overview of your finances. This can help you manage spending and budgeting. The app is easy to use, very secure, and free.

Good Luck!

How to Manage Multiple Bank Accounts: Next Steps

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