We are a corporation that operates several different businesses. Do we have to open up a separate account for each business?
Most banks will require you to set up a separate account for each business. From the bank's perspective, it's preferable to have checksdeposited to an account in the name of their payee. Combining businesses in one account can reduce the account fees the bank receives (good for you, but not for the bank, of course). From the perspective of your bookkeeper and accountant, it might be a lot cleaner to have separate accounts so that records don't get confusing.
These rules are not hard and fast. We suggest you ask a couple of banks in your area about their policies in this area. You may find an arrangement that will suit your business perfectly.
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Most banks will require you to set up a separate account for each business. From the bank's perspective, it's preferable to have 