Why is it worth owning a business account? This is not just a white list of VAT

Why is it worth owning a business account? Sometimes owning it becomes a so-called obligation, a white list of VAT payers. But even if the trader is not forced to, he must use it. It is more convenient, efficient and at the same time safer.

Why is it worth owning a business account?

In practice, almost every individual entrepreneur must have an account, but it is not always the case that he has a business account. For this reason, some entrepreneurs prefer to stop using a previously used personal account. Unfortunately, it is not a good solution for many reasons. For example, because some banks explicitly prohibit the use of personal accounts for business purposes.

Sometimes the need to have a company account in a sole proprietorship stems from a conditional obligation, not a specific legal provision. This is the case in the context of the white list of VAT payers. The white list of VAT payers is the colloquial name of the list of persons registered as VAT payers, ie persons engaged in the sale of goods or services listed in the VAT Law.

In practice, the list is helpful for entrepreneurs who can easily check their contractors. The registry is automatically entered when several basic requirements are met. The list itself contains information such as the fact of being an active VAT payer, the date of registration as a so-called. VAT, as well as account number for payment. What is very important is that only company accounts are on the white list of VAT payers.

According to the Law on Entrepreneurs, zlotys held among entrepreneurs with more than 15,000 transactions must be cashless. It may be disturbing that the contractor is not included in the VAT white list. The white list of VAT payers is therefore an indicator of the honesty and integrity of the entrepreneur. This should be clear to every VAT payer, and since a business account is a prerequisite, its creation is usually simply necessary.

Even if it is not mandatory, it is good to present them

Regardless of the reality or the law – even if you are an entrepreneur who is not subject to the obligation to own a company account, it is very valuable to create. First, it is the only effective way to completely separate corporate and personal operations.

Then it will be easier to manage finances, as well as a more comfortable situation during the audit. Making corporate and personal purchases from one account makes it almost impossible to separate them in a way that can be reliably proven.

It should be noted that payments related to the maintenance of the company’s account, in principle, can be included in the costs of managing the company. In addition, the possible capital gains will not be subject to the so-called Belka tax, which will constitute the income from business activities and will be settled in the same way as the income of other companies.

The company accounts themselves are adapted to manage most businesses. Banks support entrepreneurs in running their businesses by adding a number of useful tools and suggestions to them. Bank Pekao SA, a partner in this approach, has a similar proposal.

Business account from Bank Pekao SA

Our partner Bank Pekao SA also offers a wide range of business solutions for micro entrepreneurs. Konto Przekorzystne Business deserves special attention, because it can be called a complete solution for entrepreneurs who are successfully engaged in individual entrepreneurial activity. The April offer is more profitable.

An interested entrepreneur will not have to worry about basic fees. In case of opening the first business account, the fee for opening and maintaining the account is 0 PLN for the first 24 months. The first MasterCard Business or Visa Business card is also free. A micro-entrepreneur can also rely on an attractive offer to purchase a payment terminal.

The Multicurrency MasterCard Business Card is also free for the first two years. Then, it remains the same if non-cash transactions are carried out in the amount of 500 PLN per month. If we already have an account at Bank Pekao SA, the company account can be created through a special website, through the modern PeoPay application or through the bank’s hotline without leaving home.

The PeoPay application, especially in the updated version, is one of the best on the market (screenshot from the AppStore)

Particularly noteworthy is the promotion, according to which you can get a bonus of up to 2000 PLN to create a business account. You can earn 200 PLN to create an account with a promo code, and individual activities related to the use of the account only increase the amount of the bonus.

The presentation also covers key activities such as actively using a company account or recording receipts. Also using a currency exchange or payment terminal offer. More information about the company’s accounts can be found on the bank’s website.

The entry was created in cooperation with our partner – Bank Pekao SA

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