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Setting up account in business name?

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  • 05-11-2007 5:59pm
    #1
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭


    Hi,
    I recently registered a business name (Just waiting for the paperwork to come through from CRO)

    Just wondering, when I get the business name, can I set up a bank account in the business name? ie. If someone wants to pay me with a cheque, instead of getting it made out to my name, can it be made out in the business name? (I'd prefer getting paid in cheque to a certain extent, eventhrough I provide receipts with all services, it's another way of logging income incase mr. tax man wants to come inspect)

    Hope this is in the right place, thanks.

    PS. Meeting with accountant next week to get some 'official' advise with regard to keeping track of income etc. (Will be only small income from this, less than 20k a year)


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    #2
    dahamsta
    Banned (with Prison Access) Posts: 16,659 ✭✭✭✭dahamsta


    If it's just a business name and not a corporation name, you'll need to show the cert to your bank to be able to accept cheques in that name. You can also have the bank account named "YOURNAME T/A RBN".

    adam


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    #3
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    dahamsta wrote: »
    If it's just a business name and not a corporation name, you'll need to show the cert to your bank to be able to accept cheques in that name. You can also have the bank account named "YOURNAME T/A RBN".

    adam

    It's just a business name.

    So once I get my cert, I can just show that to the bank and should then be able to accept cheques in that name?


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    #4
    Nuttzz
    Registered Users Posts: 3,774 ✭✭✭Nuttzz


    you should get a seperate bank account for the business it would have on it YOURNAME T/A RBN, keep it seperate from your personal stuff imo


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    #5
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    Nuttzz wrote: »
    you should get a seperate bank account for the business it would have on it YOURNAME T/A RBN, keep it seperate from your personal stuff imo

    Aye, that's what i'm trying to do. Is there anything else than registering a business name that I would need for this?


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    #6
    Nuttzz
    Registered Users Posts: 3,774 ✭✭✭Nuttzz


    no, just the usual id requirements and the rbn cert from the cro


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    #7
    JohnCleary
    Registered Users Posts: 10,210 ✭✭✭✭JohnCleary


    Nuttzz wrote: »
    no, just the usual id requirements and the rbn cert from the cro

    Excellent, just waiting for the cert from the CRO. Thank's for that


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