Can a deposit paid to a corporate account be deposited into a personal saving account that is owned by the business owners?
If the checks are payable to the ABC Company, the deposit should only go into an account with that same ownership title. Your question comes up often, especially as it relates to small business accounts. Jane Smith operates as Jane's Home Interior Stuff Sales. She may have checks payable to her as well as to her business. These may get deposited into her business account. This happens, even though Jane should better ensure checks to the business are payable to the business.
Accountants hate this because mixing personal and business accounts confuses the income and debts of the business. Doing the balance sheets and income statements gets harder because of this mix, but business deposits should never go into a "personal" account that has similar owners as the business. Most banks wouldn't allow this to happen and a business shouldn't either. It can give the appearance of hiding income and attempting to avoid taxes. Also, if there happened to be a change in ownership of the business, the bank wouldn't know.
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If the checks are payable to the ABC Company, the deposit should only go into an account with that same ownership title. Your question comes up often, especially as it relates to small business accounts. Jane Smith operates as Jane's Home Interior Stuff Sales. She may have checks payable to her as well as to her business. These may get deposited into her business account. This happens, even though Jane should better ensure checks to the business are payable to the business. 