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Why is it worth creating a business account

Business accouont

Almost every bank offers the possibility to set up a company account. The law does not impose a direct obligation to have a company account, but on the other hand, the entrepreneur should use it to settle payments to ZUS and the Tax Office. What exactly are the rules of a business account and what are the benefits of having it?

Unwritten Obligation To Have A Company Account

No act specifies directly about the obligation for entrepreneurs to have a company bank account. On the other hand, taxpayers who want to be included in the white list of VAT taxpayers must have a company account. Moreover, according to the decision of the Ministry of Finance, enterprises are obliged to use a company account if they settle the transaction using the split payment mechanism. Entrepreneurs must also settle their tax and contribution obligations through a dedicated account. Therefore, although in theory you do not need to have one, most people running a business do not use a personal account for settlements, but a company account.

Why Is It Worth Creating A Business Account?

There are many benefits to setting up a company account, including the ability to make all settlements related to the company’s operations from one account. Through it, you can settle accounts with:

Financing Institutions.

Company account holders also have the option of making card payments for purchased goods or services related to the company’s operations. Thanks to this, private expenses do not alternate with private expenses, which allows for easier management of the company’s finances. Finding a specific inflow or outflow of funds is not problematic if our daily expenses do not pass between subsequent operations. You can also make recurring payments with a corporate account.

How To Choose The Right Account?

We can set up a company account at any bank, no matter in which one we have a personal account. A properly selected account should meet the needs of the enterprise, and to a large extent facilitate its proper functioning. You can read more about how to set up a company account on the website https://moneycore.pl. However, before we decide on a specific offer, it is worth knowing what aspects to take into account when choosing it. The main focus should be on:

Business account holders often have the opportunity to take advantage of financing on preferential terms, offered by the bank. Therefore, when looking for a suitable offer for yourself, it is worth considering the issue of obtaining additional funds for running and developing a business.

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