Deposit Personal Paycheck into Business Account

Posted By: Anonymous

Deposit Personal Paycheck into Business Account - 07/11/13 04:31 PM

Has there been any new "regulation" about this? I 've seen Ask a Guru questions from 2006 and 2008 that states it is allowable under the right conditions. Not best practice, but is it still allowable?

Thank you.
Posted By: JacF

Re: Deposit Personal Paycheck into Business Account - 07/11/13 05:14 PM

Generally, we do not allow the deposit of personal checks into business accounts. (To clarify- I'm referring to accounts owned by a business that is a separate legal entity from the individual, not sole proprietor accounts).

The logic behind this is the same logic behind not allowing the inverse, and not allowing individuals to deposit their checks into other individuals' accounts.
Posted By: NotDoneYet

Re: Deposit Personal Paycheck into Business Account - 07/11/13 08:22 PM

Unless the check is properly signed over to the business, we aren't suppose to allow it, although some slip through.