5 BANK ACCOUNTS FOR YOUR LLC

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Irvin Pena

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You only need two accounts, a business account, and a personal checking account. Any time you make purchases for the business inventory or rent, whatever it may be is all traceable, there is no need to have 5 accounts. Anytime you personally need money to cover food, mortgage, etc, just transfer money from your business account to your personal account that's called an owners draw.

EarsBeEazy

It’s also not wise and can be a bit much when are just starting out. Get one business account to start, THEN as your revenue grows look at opening the additional accounts you may possibly need.

KFontLab

From my understanding, certain banks have an allotted number of accounts under one account. So you open an account and there are branches or "accounts" within that one account. You can set it up to where the money is automatically separated with each deposit.

Pacifictheory

Not necessary to do that. Just use a common accounting software like quickbooks or sage and use charts of accounts to allocate same way

SharpBlockSoft