Home Forums Money matters 2 Business Names 1 ABN – 1 or 2 bank accounts Reply To: 2 Business Names 1 ABN – 1 or 2 bank accounts

#1181841
Jason@Plumsale
Member
  • Total posts: 155

As a Sole Trader you are running 1 business, no matter how many names you have. You may be selling cakes under one name and providing house cleaning services under another it does not matter you are still running 1 business.

As for the bank account, you can run it all under 1 account or 1 per each business name. But you will have un-necessary fees. You will be better off using a bookkeeping/accounting system that allows you to categorise your sales/expenses for each income stream.