When you have a commercial bank account for your business, you want to have a different set of checks and balances than you would for your personal checking account. A commercial bank account will also require proper paperwork, such as your articles of incorporation, your business certification from the secretary of your state, and personal information about the business and business owners. If you are going to be drawing checks for this account, you will have the option to ask for two signatures to be required, versus one. Here is why you should require two signatures for all checks and for any withdrawals on the commercial banking account. 

The finance person should draw each check

To run a business's finances, you need at least one person who is in charge of keeping the bookkeeping balanced. The person who is designated to keep the books balanced should be the person who physically plans and writes out each check. This is the best way to make sure that no checks will bounce and that the finances are accurately accounted for, especially in the beginning years. After the finance person draws the check and signs it, the person who is responsible for the project or payment can also sign off on the check before it is presented.

Two people are always accountable

If two people are always accountable for each check going out, it can help to keep the books straight and stop any mistakes. Make it a requirement for the finance person to write out and sign the check; the check then  also needs to go through at least one other person before it is sent off. This means that if there are any financial mistakes or if something looks amiss, there are two people who can check on the outgoing money. If anything ever looks like an oversight, both people should be held equally responsible for the content of the checks that go out. 

Embezzlement is a non-issue

When two people must sign on any outgoing money or any moving of funds, it becomes much more difficult to attempt to embezzle funds from the business. Embezzlement can be major theft over time, or it can be something as simple as padding a paycheck a little bit every once in a while. With two signatures instead of one, things that look odd or different are far less likely to slide and send the business finances and legal issues into disarray.