Flippers organizing bank accounts

[Jason Elbers]

Flippers, what's the best way to organize your bank accounts?
I have a personal account and an LLC business account.
Currently, I keep the bulk of my money in my personal account and transfer funds as needed to my LLC account. My LLC account has a "main" account for business expenses and a sub-account for each project I am working on. As projects finish, their sub-account closes. When a new project starts, a new sub-account is opened.
Would be easier to keep my personal account out of it and keep all available funds in the LLC "main" account. Especially for moving funds in and out of sub-accounts....and for providing Proof of Funds in the LLC name.
There are also some liability issues with keeping all my funds in the same LLC account, right? Is my cash "safer" the way I currently operate (in my personal account)? Not planning on ever being sued, but what if?
How do you guys organize multiple projects within your bank accounts?
Thanks in advance...

[Bill Gulley]

To make this a little more clear guys, let's define that "personal account" so that we can see if it's personal money being used or if it is company funds that have not yet been disbursed to your personally.

Money held in a business is a capital account, could be ABC, LLC Capital. From there you could use it as your operating funds. Under that you would have sub-accounts, 123 Walnut ST. 4561 Oak St. etc.
These could be used for direct project costs. You could also have your accounts payable, under each sub-account for labor, mortgages, insurance, etc.

Your personal or profits is in the capital account until you disburse it and you do that through Jason's Drawing Account, where a check is written to you personally and on the check you should note on the for line "Drawing".

If you need to put your personal money in the business from your personal family account, write it to ABC, LLC, Capital.

You should also note in the minutes of the LLC when money is contributed to the LLC or taken out to the drawing, or address these deposits and disbursements in the operating agreement to ensure that the business account is not being "used" passing money through for non-business matters. Commingled funds between you and your LLC is one of the best ways to lose your personal liability protection.