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Updated almost 8 years ago,

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3
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0
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Johan Praats
  • Investor
  • Cumming, GA
0
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3
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Managing multiple LLC's with one "master" bank account?

Johan Praats
  • Investor
  • Cumming, GA
Posted

We're looking at PM software; one of the vendors suggested setting up a single "master" bank account into which all our tenants (regardless of which of my 10 LLC their property belongs to) pay their monthly rent. I would subsequently transfer the appropriate amounts into each LLC's bank account. Does this violate the spirit of a LLC, i.e. are we breaking that veil? The reason for this set-up is to avoid establishing 10 ACH accounts via my software vendor (set-up and monthly fees are high). thanks.

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