---
title: Why Your Sealcoating Company Needs Multiple Business Bank Accounts
description: Having multiple business bank accounts is a must for your sealcoating business. Without these, your finances will be in disarray and hard to keep track of.
image: https://blog.asphaltkingdom.com/hubfs/Close-up%20Of%20A%20Businesspersons%20Hand%20Examining%20Invoice%20Through%20Magnifying%20Glass%20On%20Desk.jpg
---
[](https://www.asphaltkingdom.com) Asphalt Maintenance Made Easy
 
- Supplies
- [All Supplies](https://www.asphaltkingdom.com/supply-store.html)
- [Crack Filler](https://www.asphaltkingdom.com/crack-fill-store.html)
- [Sealer](https://www.asphaltkingdom.com/asphalt-sealer.html)
- [Line Paint & Stencils](https://www.asphaltkingdom.com/parking-line-paint.html)
- [Cold Asphalt Patch Repair](https://www.asphaltkingdom.com/asphalt-patch.html)
- [Cleaning Supplies](https://www.asphaltkingdom.com/maintenance-supplies.html)
- [Traffic Safety](https://www.asphaltkingdom.com/traffic-safety.html)
- Equipment
- [All Equipment](https://www.asphaltkingdom.com/sealcoating-equipment.html)
- [Crack Filling Equipment](https://www.asphaltkingdom.com/crack-filling-equipment.html)
- [Sealcoat Sprayer](https://www.asphaltkingdom.com/sealcoat-sprayer.html)
- [Line Stripers](https://www.asphaltkingdom.com/striping-machines.html)
- [Asphalt Patching](https://www.asphaltkingdom.com/asphalt-patching-store.html)
- [Gas Blowers](https://www.asphaltkingdom.com/asphalt-blowers.html)
- Parts & Accessories ▶
- [Sealer Sprayer Parts](https://www.asphaltkingdom.com/sealer-sprayer-parts.html)
- [Crack Filling Equipment Parts](https://www.asphaltkingdom.com/crack-repair-parts.html)
- [RY10 / RY10 Pro Replacement Parts](https://www.asphaltkingdom.com/replacement-parts.html)
- [Line Striper Parts](https://www.asphaltkingdom.com/line-painting-accessories.html)
- [Cleaning Supplies](https://www.asphaltkingdom.com/maintenance-supplies.html)
- [Line Striping Accessories](https://www.asphaltkingdom.com/asphalt-line-painting-parts.html)
- [Spray System Accessories](https://www.asphaltkingdom.com/spray-system-accessories.html)
- [Asphalt Tools](https://www.asphaltkingdom.com/asphalt-tools.html)
- Parking Lot Stencils ▶
- [Word Stencils](https://www.asphaltkingdom.com/wording-stencils.html)
- [Handicap Stencils](https://www.asphaltkingdom.com/handicap-stencils.html)
- [Letter Stencils](https://www.asphaltkingdom.com/letter-stencil-kits.html)
- [Number Stencil Kits](https://www.asphaltkingdom.com/number-stencil-kit.html)
- [Road Stencils](https://www.asphaltkingdom.com/roadway-stencils.html)
- [Surface Preparation](https://www.asphaltkingdom.com/asphalt-cleaning.html)
- [Asphalt Business Packages](https://www.asphaltkingdom.com/start-a-business.html)
- [Sale](https://www.asphaltkingdom.com/sale.html)
- [Property Managers](https://info.asphaltkingdom.com/asphalt-parking-lot-repair)
- [Contractors](https://info.asphaltkingdom.com/existing-business)
- [Start a Business](https://info.asphaltkingdom.com/start-your-business)
- Resources
- [All Resources](https://info.asphaltkingdom.com/asphalt-maintenance-resources)
- [Business Solutions](https://info.asphaltkingdom.com/business-solutions)
- [Training Courses](https://info.asphaltkingdom.com/asphalt-maintenance-resources#2)
- [AK DASH CRM](https://akdash.com/)
- [Coaching](https://info.asphaltkingdom.com/asphalt-coaching)
- [Success Stories](https://info.asphaltkingdom.com/success-stories)
- [Weekly Roundtable](https://info.asphaltkingdom.com/weekly-roundtable)
- [Parking Lot Calculator](https://www.asphaltkingdom.com/mapping-tool-customer-sign-up)
- [Supply Calculators](https://info.asphaltkingdom.com/asphalt-supply-calculators)
- [AK Vault](https://info.asphaltkingdom.com/the-vault)
- [Video Center](https://info.asphaltkingdom.com/video-center)
- [Media](https://info.asphaltkingdom.com/media)
- [Blog](https://blog.asphaltkingdom.com/)
- [FAQ](https://www.asphaltkingdom.com/asphalt-faq.html)
- [Testimonials](https://info.asphaltkingdom.com/testimonials)
- [Events Calendar](https://info.asphaltkingdom.com/calendar-of-events)
- [Contact](https://info.asphaltkingdom.com/contact)
- [Account](https://www.asphaltkingdom.com/customer/account/)
Speak to an Asphalt Expert!
[1-866-399-5562](tel:1-866-399-5562)
[tel:1-866-399-5562](tel:1-866-399-5562)
 
Speak to an Asphalt Expert!
[1-866-399-5562](tel:1-866-399-5562)
 
- Supplies
- [All Supplies](https://www.asphaltkingdom.com/supply-store.html)
- [Crack Filler](https://www.asphaltkingdom.com/crack-fill-store.html)
- [Sealer](https://www.asphaltkingdom.com/asphalt-sealer.html)
- [Line Paint & Stencils](https://www.asphaltkingdom.com/parking-line-paint.html)
- [Cold Asphalt Patch Repair](https://www.asphaltkingdom.com/asphalt-patch.html)
- [Cleaning Supplies](https://www.asphaltkingdom.com/maintenance-supplies.html)
- [Traffic Safety](https://www.asphaltkingdom.com/traffic-safety.html)
- Equipment
- [All Equipment](https://www.asphaltkingdom.com/sealcoating-equipment.html)
- [Crack Filling Equipment](https://www.asphaltkingdom.com/crack-filling-equipment.html)
- [Sealcoat Sprayer](https://www.asphaltkingdom.com/sealcoat-sprayer.html)
- [Line Stripers](https://www.asphaltkingdom.com/striping-machines.html)
- [Asphalt Patching](https://www.asphaltkingdom.com/asphalt-patching-store.html)
- [Gas Blowers](https://www.asphaltkingdom.com/asphalt-blowers.html)
- Parts & Accessories ▶
- [Sealer Sprayer Parts](https://www.asphaltkingdom.com/sealer-sprayer-parts.html)
- [Crack Filling Equipment Parts](https://www.asphaltkingdom.com/crack-repair-parts.html)
- [RY10 / RY10 Pro Replacement Parts](https://www.asphaltkingdom.com/replacement-parts.html)
- [Line Striper Parts](https://www.asphaltkingdom.com/line-painting-accessories.html)
- [Cleaning Supplies](https://www.asphaltkingdom.com/maintenance-supplies.html)
- [Line Striping Accessories](https://www.asphaltkingdom.com/asphalt-line-painting-parts.html)
- [Spray System Accessories](https://www.asphaltkingdom.com/spray-system-accessories.html)
- [Asphalt Tools](https://www.asphaltkingdom.com/asphalt-tools.html)
- Parking Lot Stencils ▶
- [Word Stencils](https://www.asphaltkingdom.com/wording-stencils.html)
- [Handicap Stencils](https://www.asphaltkingdom.com/handicap-stencils.html)
- [Letter Stencils](https://www.asphaltkingdom.com/letter-stencil-kits.html)
- [Number Stencil Kits](https://www.asphaltkingdom.com/number-stencil-kit.html)
- [Road Stencils](https://www.asphaltkingdom.com/roadway-stencils.html)
- [Surface Preparation](https://www.asphaltkingdom.com/asphalt-cleaning.html)
- [Asphalt Business Packages](https://www.asphaltkingdom.com/start-a-business.html)
- [Sale](https://www.asphaltkingdom.com/sale.html)
- [Property Managers](https://info.asphaltkingdom.com/asphalt-parking-lot-repair)
- [Contractors](https://info.asphaltkingdom.com/existing-business)
- [Start a Business](https://info.asphaltkingdom.com/start-your-business)
- Resources
- [All Resources](https://info.asphaltkingdom.com/asphalt-maintenance-resources)
- [Business Solutions](https://info.asphaltkingdom.com/business-solutions)
- [Training Courses](https://info.asphaltkingdom.com/asphalt-maintenance-resources#2)
- [AK DASH CRM](https://akdash.com/)
- [Coaching](https://info.asphaltkingdom.com/asphalt-coaching)
- [Success Stories](https://info.asphaltkingdom.com/success-stories)
- [Weekly Roundtable](https://info.asphaltkingdom.com/weekly-roundtable)
- [Parking Lot Calculator](https://www.asphaltkingdom.com/mapping-tool-customer-sign-up)
- [Supply Calculators](https://info.asphaltkingdom.com/asphalt-supply-calculators)
- [AK Vault](https://info.asphaltkingdom.com/the-vault)
- [Video Center](https://info.asphaltkingdom.com/video-center)
- [Media](https://info.asphaltkingdom.com/media)
- [Blog](https://blog.asphaltkingdom.com/)
- [FAQ](https://www.asphaltkingdom.com/asphalt-faq.html)
- [Testimonials](https://info.asphaltkingdom.com/testimonials)
- [Events Calendar](https://info.asphaltkingdom.com/calendar-of-events)
- [Contact](https://info.asphaltkingdom.com/contact)
- [Account](https://www.asphaltkingdom.com/customer/account/)
# Why Your Sealcoating Company Needs Multiple Business Bank Accounts
Having multiple business bank accounts is a must for your sealcoating business. Without these, your finances will be in disarray and hard to keep track of.
Posted by [Judson Burdon](https://blog.asphaltkingdom.com/author/judson-burdon) on October 19, 2025
Find me on
Congratulations on your new sealcoating business! Now that you have obtained licenses, permits, and [financing](https://info.asphaltkingdom.com/financing), the only thing left to do is open a business bank account and you're good to go.
[](https://cta-redirect.hubspot.com/cta/redirect/4106553/8521c62b-b990-41fa-b59a-4c48e11fbc29)
But it's not just one business bank account.
You need at least five bank accounts to ensure that your business runs smoothly and you can track every cent minus the hassle.
But why should you open multiple bank accounts for your business, and what are these for? Find out below.
## Income bank account
This is your primary bank account for your asphalt maintenance business and the first bank account you should get. Take note: every sale you make should be deposited in your income bank account first. Then— and only then—can you send a set percentage of your income to your other business accounts.
If you already have a personal savings account, then you might be wondering why you should still get a separate bank account for your business. Is it necessary?
The short answer is yes, it is necessary. It's always a good idea to have a separate business bank account, so you don't dip into your income and profits for personal expenses or dip into your savings for business expenses.
Another advantage of having a separate business bank account is that it can make your business look more legitimate and allows you to facilitate credit card payments.
A separate business account makes tax preparation easier for you and your accountant. It can also help you sort out your finances in case you're entering a business partnership or planning to incorporate your business.
The question remains: is it better to get a regular business savings bank account or a business checking account?
For your income bank account, we recommend that you sign up for a business checking account that comes with 0 or low monthly fees and does not have minimum balance requirements. Another thing you should look into when choosing a checking account is whether it comes with unlimited no-fee transactions so you can [save money](https://info.asphaltkingdom.com/asphalt-sealing-strategy-guide#3).
Related: [Sealcoating and Crack Repair Safety Checklist](https://blog.asphaltkingdom.com/sealcoating-and-crack-repair-safety-checklist)
## Operating Expenses (OpEx) Bank Account
Operating expenses (OpEx) are business expenses necessary for your company's day-to-day operation. These include:
- Accounting fees
- Cost of equipment repairs
- Insurance costs
- Legal fees
- License fees
- Marketing
- Payroll
- Property taxes
- Purchase of asphalt maintenance equipment and supplies
- Office supplies
- Rent
- Research and development
- Utilities and more
Having a separate bank account for operating expenses gives you a crystal-clear view of your sealcoating company's financial transactions and helps you manage your daily budget with ease.
It also helps you untangle knots when it's time to file your taxes as records of your operating expenses are already separate from your primary business account and your personal savings account.
[](https://cta-redirect.hubspot.com/cta/redirect/4106553/4dfc80b2-4379-42e8-bf52-cabb222e5ac3)
## Net profit bank account
Net profit is the amount that remains after all the cost of goods sold and all the operating expenses have been deducted from your gross income.
To keep track of your business profits, we recommend that you deposit them into a separate bank account. Having a separate bank account allows you to determine whether you’re making a profit, breaking even, or operating at a loss.
You don’t have to get a checking account for this — a regular business savings account will do to keep track of your net profit.
Related: [How to Make Money Sealcoating Driveways](https://blog.asphaltkingdom.com/how-to-make-money-sealcoating-driveways)
## Tax bank accounts
You should also get a separate bank account for filing taxes, and we recommend that you use a checking account for this. A separate bank account will make it easier for you to prepare your business tax returns, especially if you do it yourself.
## Owners compensation bank account
You built this asphalt maintenance company to gain financial freedom for yourself and your family, so it's only proper for you to pay yourself. To do this, you have to have an owner's compensation bank account.
You have two options to compensate yourself with your company's profits. The first one is the draw method. In this method, you can draw a certain amount from your earnings. It doesn't matter if it's a small or a large amount or whether the business is doing well or not — you're basically the captain of your own ship here so pay yourself with the amount that you see fit.
Another way to compensate yourself is by using the salary method. Every month, you draw a certain amount and pay yourself like one of your employees.
[](https://cta-redirect.hubspot.com/cta/redirect/4106553/e3a59f07-d6b7-4b02-a7d2-263885a74442)
We have plenty of sealcoating business resources for you here at the Asphalt Kingdom blog! If you have any questions about the ins and outs of running an asphalt maintenance business, or you want to know more about our sealcoating and crack repair products, just reach out to us at [1-866-399-5562](tel:1-866-399-5562) or send us a message at sales@asphaltkingdom.com
Topics: [Asphalt Maintenance Business](https://blog.asphaltkingdom.com/tag/asphalt-maintenance-business)
[](https://blog.asphaltkingdom.com/author/judson-burdon)
Judd Burdon has worked in asphalt maintenance for over 25 years. He started out selling driveway sealcoating door to door and eventually created his own asphalt business. After successfully selling Imperial Asphalt he retired to the Caribbean - at the age of 24! He was soon tired of kitesurfing all day every day and he decided to build a website to help people find asphalt equipment and start a business just like he did.
### Share with a Friend
### Leave a Comment
SIGN UP
### Get tips and tricks from the world of asphalt maintenance – sealcoating, line striping, crack repair and more – straight to your inbox.
Get Your FREE Start a Business Blueprint
Get free access to the exact step-by-step system that's helped contractors go from zero to $50k+ in their first few months.
[.png?width=200&height=300&name=First%20page.pdf%20(1).png "Start a Business Blueprint")](https://start.asphaltkingdom.com/)
#### Trending
- [How Long Do You Need to Stay Off The Driveway After Applying Sealcoating?](https://blog.asphaltkingdom.com/how-long-stay-off-driveway-after-sealcoating)
- [What Are the Standard Parking Space Dimensions?](https://blog.asphaltkingdom.com/standard-parking-space-dimensions)
- [A Complete Guide to Asphalt Millings for Driveways & Paving](https://blog.asphaltkingdom.com/a-comprehensive-guide-to-using-asphalt-millings)
- [Driveway Sealcoating: The Why, How and When](https://blog.asphaltkingdom.com/driveway-sealcoating)
- [Crack Fill Comparison: Which Crack Sealer is the Best?](https://blog.asphaltkingdom.com/crack-fill-comparison-which-crackfiller-is-best)
- [ADA Parking Space Requirements and Specifications | Asphalt Kingdom](https://blog.asphaltkingdom.com/ada-handicap-parking)
### Browse by Category
- [Asphalt Maintenance Business (114)](https://blog.asphaltkingdom.com/tag/asphalt-maintenance-business)
- [Asphalt Maintenance (86)](https://blog.asphaltkingdom.com/tag/asphalt-maintenance)
- [Sealcoating (47)](https://blog.asphaltkingdom.com/tag/sealcoating)
- [Crack Repair (28)](https://blog.asphaltkingdom.com/tag/crack-repair)
- [Property Management (26)](https://blog.asphaltkingdom.com/tag/property-management)
- [Line Striping (25)](https://blog.asphaltkingdom.com/tag/line-striping)
- [Pothole Repair (19)](https://blog.asphaltkingdom.com/tag/pothole-repair-2)
- [Cleaning and Preparation (15)](https://blog.asphaltkingdom.com/tag/cleaning-and-preparation)
- [Equipment Care (13)](https://blog.asphaltkingdom.com/tag/equipment-care)
- [News (7)](https://blog.asphaltkingdom.com/tag/news)
- [start a business (5)](https://blog.asphaltkingdom.com/tag/start-a-business)
- [parking lot sealcoating (2)](https://blog.asphaltkingdom.com/tag/parking-lot-sealcoating)
- [Asphalt Surface Preparation (1)](https://blog.asphaltkingdom.com/tag/asphalt-surface-preparation)
- [Pedestrian Safety (1)](https://blog.asphaltkingdom.com/tag/pedestrian-safety)
See all
[](https://cta-redirect.hubspot.com/cta/redirect/4106553/bea4c04b-06aa-4043-ab52-c8352053c413)
## Read Next: Related Articles
[](https://blog.asphaltkingdom.com/start-small-with-crack-repair)
### [Start Small With Asphalt Crack Fill Services](https://blog.asphaltkingdom.com/start-small-with-crack-repair)
[](https://blog.asphaltkingdom.com/why-you-should-start-a-youtube-channel)
### [4 Reasons To Start YouTube Channel for Your Sealcoating Company](https://blog.asphaltkingdom.com/why-you-should-start-a-youtube-channel)
[](https://blog.asphaltkingdom.com/5-marketing-angles-proven-to-increase-fall-business)
### [5 Marketing Angles Proven to Increase Fall Business](https://blog.asphaltkingdom.com/5-marketing-angles-proven-to-increase-fall-business)
## Equipment
- [All Equipment](https://www.asphaltkingdom.com/sealcoating-equipment.html)
- [Spray Systems](https://www.asphaltkingdom.com/sealcoat-sprayer.html)
- [Crack Filling Equipment](https://www.asphaltkingdom.com/crack-filling-equipment.html)
- [Line Striping Machines](https://www.asphaltkingdom.com/striping-machines.html)
- [Stencil Shop](https://www.asphaltkingdom.com/parking-lot-stencils.html)
- [Parts & Accessories](https://www.asphaltkingdom.com/parts-and-accessories.html)
## Supplies
- [All Supplies](https://www.asphaltkingdom.com/supply-store.html)
- [Sealer](https://www.asphaltkingdom.com/asphalt-sealer.html)
- [Crack Filler](https://www.asphaltkingdom.com/crack-fill-store.html)
- [Line Paint](https://www.asphaltkingdom.com/parking-line-paint.html)
- [Asphalt Patch Repair](https://www.asphaltkingdom.com/asphalt-patch.html)
- [Complete Packages](https://www.asphaltkingdom.com/start-a-business.html)
## Account & Resources
- [Log In / My Account](https://www.asphaltkingdom.com/customer/account/login/)
- [Create Account](https://www.asphaltkingdom.com/customer/account/create/)
- [AK Royalty Rewards](https://www.asphaltkingdom.com/royalty-rewards)
- [About Us](https://www.asphaltkingdom.com/about-us.html)
- [Shipping Information](https://www.asphaltkingdom.com/our-policies.html#shipping-policies)
- [Customer Service](https://www.asphaltkingdom.com/customer-service)
- [Knowledgebase](https://www.asphaltkingdom.com/asphalt-faq.html)
- [Financing](https://info.asphaltkingdom.com/financing)
- [Testimonials](https://info.asphaltkingdom.com/testimonials)
- [Marketing Support](https://info.asphaltkingdom.com/asphalt-maintenance-resources)
## Get In Touch
###### Phone
[1-866-399-5562](tel:1-866-399-5562)
###### Email
sales@asphaltkingdom.com
###### Working Days
Mon–Sat, 8:00am–8:00pm ET
###### MORE LANGUAGES
[English](https://info.asphaltkingdom.com/contact)
[French / Francais](https://info.asphaltkingdom.com/fr-ca/adi-asphalt-specialist)
[Spanish / Español](https://info.asphaltkingdom.com/es/mantenimiento-de-asfalto)
 [](https://www.asphaltkingdom.com/)
[+18556514902](tel:+18556514902) [+18556377446](tel:+18556377446) [+18447911987](tel:+18447911987) [+18773532745](tel:+18773532745) [+18555361977](tel:+18555361977) [+18445822894](tel:+18445822894) [+18558786493](tel:+18558786493)
### Be the first to know about new products and special sales
[](https://www.facebook.com/YourAsphaltKingdom/) [](https://www.youtube.com/@AsphaltKingdom/?sub_confirmation=1) [](https://x.com/Asphalt_Kingdom) [](https://www.instagram.com/asphaltkingdom/) [](https://www.linkedin.com/company/asphalt-kingdom/)
Copyright © 2004-2026 Asphalt Kingdom. All rights reserved. | [Sitemap](https://www.asphaltkingdom.com/sitemap.xml) | [Our Policies](https://www.asphaltkingdom.com/our-policies.html)
```json
{
"@context" : "https://schema.org",
"@type" : "BlogPosting",
"author" : {
"@type" : "Person",
"name" : "Judson Burdon",
"url" : "https://blog.asphaltkingdom.com/author/judson-burdon"
},
"dateModified" : "2025-12-31T08:20:52.682Z",
"datePublished" : "2025-10-19T04:00:00.000Z",
"headline" : "Why Your Sealcoating Company Needs Multiple Business Bank Accounts",
"image" : [ "https://blog.asphaltkingdom.com/hubfs/Close-up%20Of%20A%20Businesspersons%20Hand%20Examining%20Invoice%20Through%20Magnifying%20Glass%20On%20Desk.jpg" ],
"mainEntityOfPage" : {
"@id" : "https://blog.asphaltkingdom.com/sealcoating-business-bank-accounts",
"@type" : "WebPage"
},
"publisher" : {
"@type" : "Organization",
"logo" : {
"@type" : "ImageObject",
"url" : "https://blog.asphaltkingdom.com/hubfs/AK_Logo_Full-2.png"
},
"name" : "Asphalt Kingdom"
}
}
```
```json
{
"@context" : "http://schema.org",
"@type" : "VideoObject",
"description" : "Accounting numbers for your asphalt business can make or break your business, but how do you know when your numbers are signaling success or disaster?",
"duration" : "PT51S",
"embedUrl" : "https://www.youtube.com/embed/As5yNNnIrv8",
"interactionCount" : "190",
"name" : "ACCOUNTING NUMBERS TO WATCH IN YOUR ASPHALT BUSINESS",
"thumbnailUrl" : "https://i.ytimg.com/vi/As5yNNnIrv8/default.jpg",
"uploadDate" : "2021-05-17T19:54:43Z"
}
```