Business account for small business owners? 3 super practical benefits!

Do you want a food retailer, a Starting a business or direct marketing, do you have to consider a few things about your finances concerns. Depending on which Type of company You choose, there are different requirements. No matter what kind of company it is, you need a current account. We'll tell you for whom a business account is mandatory, and when you as small business owner It applies. We'll also show you the advantages and disadvantages of business accounts.

What is a small business owner?

Anyone who is a small business owner is in Sales Tax Act regulated. Die Small business regulation This does not relate to the legal form of your company. The requirement is that your Turnover in the first or previous year are not higher than 22,000 euros And not in the current year 50,000 euros exceed. Then you can make use of the small business regulation and must pay no sales tax.

Since you don't pay sales tax, you can't get the input tax refunded either. In other words, the sales tax that you pay on purchases. When signing up, you enter in Tax registration questionnaire indicate whether you want to use the regulation. You will then be bound to your information for the next five years.

For example, do you start a delivery service, do you have to use this as crafts sign in. If you do not expect sales higher than 22,000 euros in the first year, you are considered a small business owner.

What is the difference with small businesses?

As a small business owner, your company can take on different legal forms. Your delivery service, for example, is a business that you register with the trade office. A small businesses Is it then when your annual turnover not higher than 600,000 euros Is or the annual Win a maximum of 60,000 euros amounts to. Small businesses are therefore not necessarily covered by the small business regulation. Instead, they are subject to the requirements of the Commercial Code, but are not entered in the commercial register. With a small business, you are exempted from bureaucratic requirements, which you have to fulfill as a real businesswoman. This is because the requirements are linked to sales.

With your delivery service than small businesses You may be able to make use of the small business regulation. But as a small business owner, you don't automatically have a small business, for example if you're a freelancer. Exempted from Compulsory trade Are also farms. Commercial activities However, this includes sales at a sales stand or a shop that is spatially separated from the farm. Or when you're in Farm shop sell products from other producers. You can produce food and sell it non-commercially in the farm shop if the Products close to original production are. For example, if you make dairy products, you can also sell them.

Small business is a popular form of start-up because you can register it without there being a prescribed start-up capital There is. Besides, you can also part time job establish. You have fewer bookkeeping hurdles, for example, there is no need for double bookkeeping. You will also receive perks in the case of commercial contracts. You can register it as sole trader:in or in pairs or three as Civil Law Society (GbR).

The swap from the Small business regulation to the regular Sales tax payment Is done at tax officeby filing the advance sales tax return. If you want to switch to a small business owner, all you have to do is submit an informal application.

Is a business account mandatory?

Regardless of whether small business owner or freelancer, you manage your finances via a bank account. You usually open a business account. However, this is for small businesses and small businesses not mandatory. Even if you are self-employed as a part-time job, a business account is not mandatory for you. On the other hand, the obligation applies to corporations, limited liability companies or associations.

Usually permit You still the Bank terms and conditions notto allow business transfers to run via a private account. This is often not allowed if your house bank offers to open private and business accounts. This is due to the fact that it has different conditions and the cost of business accounts is greater.

When do I need a business account?

Set the bank business payment transactions on your private account Sure, she has various ways to prevent this. It may take a few months before she realizes this, but you shouldn't wait that long.

Because depending on how accommodating it is, your bank may first ask you to stop payment transactions or open a business account. But she can also do that for you private account With a deadline or even without notice terminate. Or it automatically converts the account to a business account and demands in return retroactively which Extra charges.

It is therefore advisable to find out about the bank's requirements beforehand. Even though they are independent of the regulations for small business owners. For example, do you register a business such as a delivery service, a business account therefore makes sense.

What are the advantages and disadvantages of having a business account?

But even without the bank's requirements and without the regulations for entrepreneurs or freelancers, it is usefully, private finances from business to separate. Because it is much easier to To keep track about your company's income and expenses. Regardless of whether you have to pay sales tax or not.

Even as a freelancer, you are registered as such with the tax authorities. By then, it is important to manage your finances carefully and clearly. Because even as a self-employed person, you have a Obligation to provide evidence to the tax office. With a business account, you have all the documents together at a glance and no private bookings in between. Dies spared You significantly zeit.

In addition, business accounts have important featuresthat a private account does not offer. That is that Direct debit mandate from customers, refunds to customers, card payments by customers in the store or in the online shop and the payout of salaries to employees. They also have the option of sub-accounts or additional applications for accountancy And yours bookkeeping. Some even offer an automatic tax calculation on. The business account can often be used with accounting software such as from Lexoffice be linked. Or just with Freight pilot.

Of course it's a Time spent, one suitable bank find one that offers the best conditions for account management. The bank with which you have your personal account may not have the best prices or features for you. Die Account maintenance fees are another drawback. Of course, it depends on how much money you have available and how big your company is.

Banks, for their part, make a significant difference between private and business accounts. This also applies to loans. An overdraft facility is cheaper than a Current account credit. However, this is important if your company has to financially bridge phases without income. To do this, the bank always checks your creditworthiness.

What should I consider before opening?

You should make a list Which features you need for the business account. Are digital services and online banking enough for you? Then is a Direktbank suitable. They often have lower account management fees because they have no branches. But they also don't have cash machines. Do you also have to cash Depositing or withdrawing is not the best option after all.

Banks also offer different numbers Free transfers on and different fees for your transfers. This also depends on how many transfers you make.

Some banks also give you the account card readers. However, if you don't need such a device, it is a function that only costs you extra.

There are also banks that focus on the catering sector or on medical practices and pharmacies specializes have. You can also look out for them.

Business accounts are More expensive than private accounts, as they represent a loss-making transaction for the credit institution for the time being. The effort is greater because usually more transactions accrue as on private accounts. The review of current account loans is also more complex than overdraft facilities. The bank only earns money from it when it charges interest on the loan. It also only earns money when business customers pay account management fees and fees for transactions as well as for credit and current cards.

Conclusion

As a small business owner or small business owner Are you not obligated, a business account to use. But you should know about the Your bank's conditions inform. If it doesn't allow you to use a personal account for business, you can't avoid a business account.

One advantage is Separation of business transactions from the private ones. You've got a better overview and saves time. In addition, business accounts have practical additional functions. You should still consider which functions you actually need beforehand. Die fees However, business accounts are also higher because they mean additional costs for the bank. Linking the account to a accounting software. From your direct agricultural marketing, your grocery store or your bread delivery service You certainly already know such software.

And of course you can also at FrachtPilot the bookings on your business account with your invoices reconcile. All with one click, no hassle.