cashing a business check

WheatWheat subscriber Posts: 2
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?

Comments

  • olvilleolville subscriber Posts: 1
    Just write for deposit only. You will be fine.
  • OnlineSidingJamesOnlineSidingJames subscriber Posts: 2
    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!
  • homeandlhomeandl subscriber Posts: 0
    in my experiance you cant deposit a check paid to a business name in a personal account, however just make your personal name as a DBA your business name
     
    find out more info at this business checks site.
    homeandl5/27/2009 6:52 PM
  • VideographyVideography subscriber Posts: 6
    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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