Get Paid: Manual Name Review

[itbiz-pro]

I hereby request a manual name review as I have a commercial bank account for my Single Member LLC which does not match my personal name.

[itbiz-pro]

I'd like to understand if I am better served here by 'Creating an Agency', even though I am an individual with no additional employees.

First, will creating an agency enable contracts to be entered-into in my company name rather than in the name of an individual freelancer?  This is an important distinction because my company is covered by liability insurance - and I wouldn't want any suggestion of a relationship to be outside of my company name.

Second, will creating an agency enable payments to be depositing into a bank account that is in my company's name, rather than in my name, as a freelancer?  This is the problem I am experiencing now)?

Best & Respectfully--

Tom

[nkocendova]

Hi Thomas,

Many freelancers are sole proprietors, but many own LLCs, corporations, etc.  If you don't enter a business name in your profile, then you are doing business under your own name.  Although your profile itself needs to be in your name, you can include your company name in your profile and in your settings (under "Tax Information"), and use your company's tax ID, as well.  If your "business name" is different than your personal name in your account information, then your business name also appears on your invoices to your clients.  You could also create an agency in your company's name, if you wanted to. I've requested that one of our agents reach out to you directly to assist you with manual review of the mismatch between the bank account you'd like to use and your name.

[itbiz-pro]

Thank you, Nina.

I'm still uncertain whether or not there would be an advantage to creating an agency.

With an agency, is the contract still made in the name of an individual freelancer, or is the contract clearly made between the agency and the client (rather than in the name of an individual freelancer)?

Also, with an agency, is payment clearly made in the name of an institution/ company, is it still associated with an individual, which will require a manual name-matching process for a company account?

What other differences are there, if any?  Is there a way for me to 'test drive' it to see how it changes the platform?

Best & Respectfully--

Tom