# Sharing bank account for multiple business **URL:** \ **Category:** Uncategorized\ **Created:** [December 8, 2014, 8:00pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920 "2014-12-08T20:00:03Z")\ **Posts on this page:** 16\ **Page:** 1
**Author:** ![sdeceulaer](https://avatars.discourse-cdn.com/v4/letter/s/fbc32d/32.png) [@sdeceulaer](https://forum.manager.io/u/sdeceulaer)\ **Post date:** [December 8, 2014, 8:00pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/1 "2014-12-08T20:00:03Z")
I am new to [manager.io](http://manager.io), but it looks very promising. I have 2 separate businesses, but they share one bank account. Is it possible to share one bank account across businesses? Any other options? ---
**Author:** ![tony](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/tony/32/17755_2.png) [@tony](https://forum.manager.io/u/tony)\ **Post date:** [December 8, 2014, 11:39pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/2 "2014-12-08T23:39:11Z")
You cannot split a bank account between two businesses. A second bank account is the best solution but if one of the businesses has very few transactions then create loan accounts between the businesses. In the business that has the bank account any transaction relating to the other business can be entered to the loan account. In the business without the bank account the income and expense transactions can be entered as journal entries with corresponding debit/credits to the loan account from the other business. ---
**Author:** ![lubos](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/lubos/32/62798_2.png) [@lubos](https://forum.manager.io/u/lubos)\ **Post date:** [December 9, 2014, 4:42am UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/3 "2014-12-09T04:42:39Z")
Only one business can “own” the bank account. This is important because the balance in bank account is reported on balance sheet. If you have $10,000 in a bank account, you can’t have both businesses to report as if they have $10,000 in the bank. So the solution is to decide which business is going to “own” the balance. Then create bank account under that business. You should also create a liability account in your Chart of Accounts such as “Loan - Business ABC” where Business ABC is the name of your second business. Any transaction that relates to the second business should be allocated to “Loan - Business ABC” liability account. So that’s how you do bookkeeping for the first business that is going to “own” the bank account. Now what about the second business? Well, if your first business is paying an expense from bank account on behalf of your second business, you should record this as an [expense claim](http://www.manager.io/guides/expense-claims/) or journal entry. If your first business is receiving money from customer to the bank account on behalf of your second business, you should record this as a journal entry. Anyway, you will need to understand double-entry accounting principles in order to correctly account for these transactions. If you are not familiar with double-entry accounting principles, I suggest you have second bank account for the second business like Tony has suggested. ---
**Author:** ![sdeceulaer](https://avatars.discourse-cdn.com/v4/letter/s/fbc32d/32.png) [@sdeceulaer](https://forum.manager.io/u/sdeceulaer)\ **Post date:** [December 9, 2014, 3:19pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/4 "2014-12-09T15:19:25Z")
I understand about the bank account and the loans. But the thing is: the 2 businesses share more information than only the bank account. They have also some shared costs (like telephone, internet, computer, car, …), some shared suppliers, some shared customers… As the two businesses or divisions are targeted to different types of people and sell different products/services (a photography division and a division that sells stationary and cards etc…) the invoices need to look different (more different than just replacing the logo). In my current book keeping, I do not have a good view on the difference of income generated by the two divisions. Any suggestions on how to approach this type of division/multiple businesses? ---
**Author:** ![tony](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/tony/32/17755_2.png) [@tony](https://forum.manager.io/u/tony)\ **Post date:** [December 9, 2014, 11:34pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/5 "2014-12-09T23:34:41Z")
For multi-division capabilities, see [Guides | Manager](http://www.manager.io/guides/miscellaneous/tracking-profitability-by-division/) If you want one business to issue two different types of invoices, you should look into `View Templates` which allow to customize look & feel through HTML - see [Guides | Manager](http://www.manager.io/guides/miscellaneous/customising-invoices/) ---
**Author:** ![katrina](https://avatars.discourse-cdn.com/v4/letter/k/df705f/32.png) [@katrina](https://forum.manager.io/u/katrina)\ **Post date:** [November 17, 2016, 11:25pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/6 "2016-11-17T23:25:02Z")
When having two different templates is there a way to have two different logo’s and business information? ---
**Author:** ![Tut](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/tut/32/3286_2.png) [@Tut](https://forum.manager.io/u/Tut)\ **Post date:** [November 17, 2016, 11:46pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/7 "2016-11-17T23:46:05Z")
Not by relying upon your entries under `Settings`. But you could hard program the changes in HTML. How to do that is beyond the scope of this forum. ---
**Author:** ![katrina](https://avatars.discourse-cdn.com/v4/letter/k/df705f/32.png) [@katrina](https://forum.manager.io/u/katrina)\ **Post date:** [November 23, 2016, 10:23am UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/8 "2016-11-23T10:23:20Z")
what accounts do I use in the journal entry? ---
**Author:** ![Brucanna](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/brucanna/32/1960_2.png) [@Brucanna](https://forum.manager.io/u/Brucanna)\ **Post date:** [November 23, 2016, 10:58am UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/9 "2016-11-23T10:58:22Z")
In the first business, which owns the bank account, you would post all transactions relating to the second business to an Inter-business Current Account which generally would be located in the BS Liabilities. In the second business, it would replicate within its own Inter-business Current Account via Journal all transactions posted there in the first business. It is to be noted that if the first business puts a Debit to the Inter-business Current Account, then that same transaction is taken up as a Credit to the Inter-Business Current Account in the second business and vice versa If the first business pays accounting fees on behalf of the second business then the entries are: First Business - Spend Money Credit - Bank Account Debit - Inter-business Current Account Second Business - Journal Credit - Inter-business Current Account Debit - Accounting Fees ---
**Author:** ![katrina](https://avatars.discourse-cdn.com/v4/letter/k/df705f/32.png) [@katrina](https://forum.manager.io/u/katrina)\ **Post date:** [November 24, 2016, 11:58am UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/10 "2016-11-24T11:58:49Z")
Thank you Brucanna, What do I do if the first business receives money on behalf of the second business? e.g: A customer pays an invoice into first business account that was invoiced out by the second business. ---
**Author:** ![Brucanna](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/brucanna/32/1960_2.png) [@Brucanna](https://forum.manager.io/u/Brucanna)\ **Post date:** [November 24, 2016, 12:06pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/11 "2016-11-24T12:06:16Z")
First Business - Receive Money Debit - Bank Account Credit - Inter-business Current Account Second Business - Journal Debit - Inter-business Current Account Credit - Accounts Receivable + Customer + Invoice ---
**Author:** ![katrina](https://avatars.discourse-cdn.com/v4/letter/k/df705f/32.png) [@katrina](https://forum.manager.io/u/katrina)\ **Post date:** [November 24, 2016, 12:22pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/12 "2016-11-24T12:22:05Z")
In the second business what would the Inter-business loan account be classed as? ---
**Author:** ![Brucanna](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/brucanna/32/1960_2.png) [@Brucanna](https://forum.manager.io/u/Brucanna)\ **Post date:** [November 24, 2016, 12:35pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/13 "2016-11-24T12:35:50Z")
It is not a loan account - it is an inter-business “Current Account”. A current account is where transactions are allocated to when they belong to another entity. In one business the current account will have a debit balance and in the other a credit balance, but depending on the transactions occurring, these balances might swap backwards and forwards over the course of a year. However, if the balances are going to be roughly in the same direction (business one always Debit) then the Current Account in one business will be a BS Asset and in the other business a BS Liability ---
**Author:** ![Brucanna](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/brucanna/32/1960_2.png) [@Brucanna](https://forum.manager.io/u/Brucanna)\ **Post date:** [November 24, 2016, 12:45pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/14 "2016-11-24T12:45:32Z")
If you have two businesses ABC & XYZ, then in business ABC you would have XYZ Current Account or XYZ C/A. In Business XYZ you would have ABC C/A ---
**Author:** ![katrina](https://avatars.discourse-cdn.com/v4/letter/k/df705f/32.png) [@katrina](https://forum.manager.io/u/katrina)\ **Post date:** [November 24, 2016, 12:53pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/15 "2016-11-24T12:53:45Z")
Thank you!!! all sorted now 😉 ---
**Author:** ![Ealfardan](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/ealfardan/32/63166_2.png) [@Ealfardan](https://forum.manager.io/u/Ealfardan)\ **Post date:** [January 18, 2023, 3:30pm UTC](https://forum.manager.io/t/sharing-bank-account-for-multiple-business/1920/16 "2023-01-18T15:30:12Z")
Closed on January 18, 2023, 3:30pm UTC