I got a draw from a customer on Feb. 5th to pay for the insulation and installing drywall. (that included the materials also.
Knowing how slow this company was, I put the check into my savings until the work was finished and I got the actual final bill. I got the bill on Saturday and immediately sent them a check.
The money I transferred from my saving into my business checking.
My business checking does pay a little interest, but only 1/2 of one percent interest on balances over $10,000.
I figured that I earned an extra $70 in interest by keeping that money in my money market account for the 4 weeks it took to complete the job!
I would have earned $6.90 if I let it sit in my checking.
So I made an extra $63 in interest.
I hope everyone feels that is ok?? It is the first time I have ever done that.