If you receive an insurance check for vehicle repairs payable to your S corporation, you must deposit it into your business account. Insurance companies issue checks payable to the person or entity that owns the insured vehicle. Some insurance companies send checks directly to the car repair shop, but if you receive the check, you must deposit it then write a check from that account to cover the car repairs.
Read the payee line on the front of the check to ensure that it shows the actual name of the S corporation. Insurance companies often refuse payment on checks deposited into accounts titled with names that do not match the payee line on an insurance check exactly. If the check writer spelled the company name wrong, you should request a new check. If the check shows the correct company name, you can deposit it.
Go to your bank. Complete a deposit ticket listing the total amount of the check in the "check" line on the right-hand side of the deposit slip. If you do not have a pre-printed slip, remember to write the business account number and the company name on the deposit slip.
Turn the check over and twist it around so that the endorsement line sits at the top of the check as you view it. At the top of the check, just above the endorsement line, write "Pay to the order." Write the name of the S corporation on the endorsement line and beneath the line write the business account number. Hand the check together with the completed deposit slip to a teller. When the teller hands you a receipt, ensure that the account number and deposit amount listed on the receipt are correct. Ask the teller when funds from the check will post to the account.