Forums: Discussions for entrepreneurs and small business.

I got my first business check for my services.  I had a checking account when I got married so I kept that account to use for business expenses.  This account is not in my business name.  The check is written to the business. Can I deposit this check in my account, and if so, how do I endorse the check; with my signature, or with some other writing on the back?

Just write for deposit only. You will be fine.

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olville@bloominglilies.com

Wheat,

First, ask your bank what their requirements are because each banks rules are unique. 

I am dealing with this situation right now.  Depending on how you are structured legally will depend on how you set up your account.  If you are an LLC or are going to be you need to finish the process and get your Articles of Organization and show them to the bank.  This will allow you to set up a business account and accept checks in the name of your company.  If you are a sole propreitor then you need to file with the Secretary of State for a Doing Business As or DBA name.  Once that`s completed take it to the bank.  Doing this should allow you to accept checks in the name of your business. 

To actually deposit the check you need to simply endorse the check in the name that the check was written to on the back and deposit it to the correct account.  So if the check is in your business`s name then  you don`t sign your name you sign it`s name.

Let me know if this helps and / or if you need more info. 

Usually, you will need to deposit to the account for your business, if you don`t have one your may bank may have you open one. The IRS frowns upon business owners (espeially Corps, LLC, etc.) cashing business checks.

Otherwise, if you know you can put it into your personal account, the endorsement will need to appear as:

• Your Business Name
• Pay to the Order of
• Your Name
• For Deposit Only
• Your Signature

To get cash, you usually will need to turn around and just write a check off your account rather than cashing the check itself.

I am sure you already took care of this, good luck!

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James Skinner Vice President & COO OnlineSiding LLC jskinner@onlinesiding.com www.onlinesiding.com 877-642-2496 x102

The reason that you are getting different answers is because the bank policy is mostly controlled by their state charter, and every state is slightly different.

Ask the bank.



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Steve Mann
Internet Videographer
MannMade Digital Video
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