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Accept Deposits in 2 Company Names into 1 Acct?

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Question: 
When a corporation has an account titled "Smith mowing DBA Jones Hardware," may we accept deposits in both company names into the one account?
Answer: 

It is really a bank policy, but there would not be anything that would prevent you from doing so. It really comes down to bank policy as to what you allow deposited into the account. Many banks would limit it to Jones Hardware, as that is why the account was set up as such and would require checks made payable to Smith Mowing to be deposited into a separate account with only that title.

First published on 01/17/2021

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