Our's is similar to Morgan's.
We have a joint checking account that we both contribute to for all of our joint bills - mortgage, cars, phones, utilities, etc. Mike puts twice as much as I do b/c he makes a lot more than I do. I manage this account and pay all of our bills each month.
We both still have our own personal checking, saving, and investment accounts. Whatever is leftover in our own checking accounts after we contribute to our savings and our investments is our own "fun money". We also use our own checking accounts for going out to eat, groceries, gas, etc. It works well for us.