Editing Best practices (section)

==Money Money Money==
For the love of all that is and is not holy, get someone who knows what he or she is doing to manage your accounts!  This makes all the difference.  Srsly.


Most committees in the past set up a business account with a bank.  This allows you to have business credit cards for charging deposits and other expenditures.


An alternative to a business bank account is to set up a business account on PayPal.  The [[C15]] committee did this, and it worked quite well.  The PayPal business account lets you use a debit card to make your deposits and purchases, giving you 1% cash back on all debit card transactions.  There are two drawbacks to this:  1) The business account must be attached to an existing PayPal account (meaning that someone will not have personal use of his/her PayPal account for the duration of planning and until all debts are paid), and 2) committees must either have a nest egg in the account before laminates go on sale or wait until laminates are on sale and money is in the account before putting down deposits on venue space, etc.