If you have some sort of business LLC, S-Corp, etc. and people make out checks to that business's name, what is the procedure for cashing the checks yourself. Since they are not explicitly made out to your name.
2007-01-07 13:56:42 · 5 answers · asked by sammy 1 in Business & Finance ➔ Small Business
You need to have an account in the businesses name. You would be on the account and could cash the checks.
2007-01-07 13:59:52 · answer #1 · answered by zara01 4 · 0⤊ 1⤋
You can't cash checks made out to your business name. You have to deposit them into your business account and then write a check out of that account to your name.
2007-01-07 14:05:13 · answer #2 · answered by ? 3 · 1⤊ 1⤋
If you don't want to pay a ridiculous fee at "Check Cashing" place, you ask the payor of the check to kindly issue another check made out to your name instead of the company. You can say that you are in the process of opening a bank account under the company name but you hadn't gotten around to doing it yet. You return the check to them so that they can destroy it rather than having to make the stop payment (fee involved).
2016-03-14 02:51:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If they are made out to the business they must first go into the business account. Then you are probably signed up as a legal writer of checks from that account and you can write yourself a check.
2007-01-07 14:00:44 · answer #4 · answered by Anonymous · 2⤊ 1⤋
You can't.
Another thing you can do is have the party make the check out to the business OR you the business owner. That is acceptable.
ex. JIMBOBS BUSINESS BOXES or JIM BOB JOHNSON
2007-01-07 14:24:36 · answer #5 · answered by Mee-OW =^..^= 7 · 0⤊ 1⤋
Deposit the check.
Then write a check made payable to yourself.
2007-01-07 13:59:13 · answer #6 · answered by fcas80 7 · 2⤊ 1⤋