Is it legal for there to be different companies (company name) under 1 ABN with different bank accounts. Accounting system not liking this.
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No, it is not legal at all.
You can not have different companies using the same ABN. They are seperate legal entites and must remain that way for business and accounting purposes.
When a company registers with ASIC it is given its own Australian Company Number (ACN) consisting of nine digits, and then when that same company registers for an ABN it is issued with an 11 digit number consisting of two numbers plus the nine ACN digits, in otherwards the ABN is an extension of the ACN.
Each company with have its own unique ACN and ABN.
You need to have all the companies registered for their own seperate ABN otherwise your going to find yourself getting a vist from an income tax auditor.
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No, it is not legal at all.
You can not have different companies using the same ABN. They are seperate legal entites and must remain that way for business and accounting purposes.
When a company registers with ASIC it is given its own Australian Company Number (ACN) consisting of nine digits, and then when that same company registers for an ABN it is issued with an 11 digit number consisting of two numbers plus the nine ACN digits, in otherwards the ABN is an extension of the ACN.
Each company with have its own unique ACN and ABN.
You need to have all the companies registered for their own seperate ABN otherwise your going to find yourself getting a vist from an income tax auditor.
Did you mean you registered 2 business names under 1 company?
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