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Capital Accounts - LLC Co-Owners
My partner and I just formed our LLC as co-owners. We are trying to determine the best banking option for our business and have come across a lot of recommendations online to form capital accounts to help track each members contributions. However, we are having trouble understanding what this means exactly for our bank accounts and accounting. I have called several banks and none of them have been able to explain this to me. Can someone please share information about capital accounts in a way that can be clearly understood? Much appreciated.