When you run more than one business, the first money question isn't which app to use. It's how many bank accounts you need. Get this wrong and month-end turns into detective work.
First: what are your businesses legally?
- Several DBAs under one LLC: one legal entity with several trade names.
- Several LLCs: separate legal entities, even if you own all of them.
- A holding company that owns LLCs: see holding company vs separate LLCs.
The answer to "how many accounts?" depends on which one you have.
Several LLCs: give each one its own account
Each separately formed LLC should have its own business bank account. If one LLC pays another LLC's bill, record it as an intercompany payment, a loan or a reimbursement, and keep the paperwork. Don't use one LLC's account as a "master" account for the others.
DBAs under one LLC: one account can work
A bank may let one account receive payments under several DBA names if the same entity owns them. Expect to show your DBA registrations. Your books still need to assign every sale, expense and refund to the right brand.
Consider separate accounts per DBA when:
- a brand has real volume of its own
- brands have different budgets or different people spending
- you want a clean profit and loss per brand without extra tagging
The setup that keeps things sane
- One operating account per legal entity, at minimum
- A clear brand tag on every transaction (account, class or category)
- Matching payouts: each payment processor account pays into the right bank account (Stripe by brand)
- A weekly money in and money out check per brand
- One written list of accounts: bank, last four digits, brand and who can access it
How we handle it at Linkedd LLC
Linkedd LLC houses seven businesses. The Portfolio Operator OS includes the one-page portfolio dashboard we use to see money in and money out per business each week. It's $39 once, or free with an annual membership.
Related reading
- Shared back office for multiple businesses
- One Stripe account for multiple businesses?
- NAP consistency across multiple DBAs
- How to run multiple businesses
Questions? Call (406) 389-8067. Linkedd LLC, 226 S Cruse Ave, Helena, MT 59601. This is general information, not legal, tax or financial advice. Ask your bank and your advisor about your situation.
Frequently asked questions
Do I need a separate bank account for each business?
If each business is its own LLC, generally yes. Each entity should have its own account and shouldn't share funds. If your businesses are DBAs of one LLC, one account can work if your bank accepts the trade names, but many operators still separate busy brands.
Can one bank account have multiple DBAs?
Often, yes, if the same legal entity owns all of them and the bank approves each trade name. Banks may ask for proof that each DBA is registered.
Is it okay for one LLC to pay another LLC's bills?
Record it properly as an intercompany payment, a loan or a reimbursement, with documentation. Don't treat one LLC's account as a shared account for the others.
What does Linkedd LLC use to track money across its businesses?
A one-page portfolio dashboard showing money in and money out per business each week. It's part of the $39 Portfolio Operator OS.