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Can you put a business cheque into your personal account until your business account opens the cheque is made out to the company you are the director?
Tomdat7
NO! Absolutely not! It's called Co-mingling of funds. If you werein real estate, you could loose your license. There are some FEDERAL guidelines and laws about this subject. I unfortunately can't recall the exact law for this. All I can say is just don't do it.
Wiki User
∙ 16y ago
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Is it legal to transfer funds from business to personal account?
It is legal as long as both accounts belong to the same person/company. If the owner of a company transfers cash from his business account to his business account it is legal. But, if his Personal Assistant does it from her boss's business account to her personal account, it is illegal.
Can you deposit a business check to your personal account?
No, you cannot deposit a business check into a personal checking account. You can only deposit a check into an account that shares the same name, i.e. A check is made out to ABC company--it can only be deposited into an account that is titled ABC company. It cannot be deposited into a personal account--even if that is the personal account of the owner.
Can the director of a corporation deposit company money into their personal bank account?
They can deposit money into their personal bank account but they shouldn't. It will mix funds and accounting and taxes will be challenging. They can also be accused of wrongdoing.
Can a company director withdrawal cash for drawings account from company?
Yes, but it will be treated as a drawings account.
Can a bank transfer money from a private account of a director of a Ltd company to the ltd company without the permission of the director?
I don't think they can
What is the meaning of nominal account and real account and personal account?
The account related to the individual firm , company,and institution is called personal account. THE account related to the things or properties of business organisation whose valuation can be done in terms of cash is called real account. the account related to the income , expenses,profit and gain is called nominal account. .
Can the son of a director who is neither a director nor any officer in the company be authorised to operate the bank account in the name of the company?
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What is the difference between facebook fan page and business page?
The personal account is for friends and family to add you as a friend. You use it to play games sign up for sweepstakes and contest and converse with people. On a business account people like you page and follow your updates. U can also upload pictures on a business account but not personal flicks. People can choose whether to only view your post or see all post on a business page, which is usually geared a service of your company or you contribution to a company
What is the difference between a personal business letter and a business letter?
A personal-business letter is one that is sent from an individual to a business or company. Whereas, a business letter is a letter sent by the company or organization.
What is account pitching?
Account pitching is a term used in the business world. It describes when a person or company is trying to get another company to do business with them or their product.
What is one company that offers business checking accounts?
Most all banks these days will offer business services. I think the best thing to do is go to your bank that you already have a reputation with and an active personal checking or savings account with and tell them you are starting a business and would like to add a business account.
What are the key differences between personal and business checks?
Personal checks draw funds from a non-business, usually a household, account. The account may be owned by an individual, a couple, or a family. Business checks draw funds the bank account of a company or business and are usually used for business expenses. Often they require more than one signature to be valid, and the signers are executives or other officers of the corporation. One signer is usually the accountant or treasurer.
